GAAP revenues of $61 million
On February 3, 2016, Glu Mobile (GLUU) announced its 4Q15 results. It reported GAAP (generally accepted accounting principles) revenues of $61 million, a decrease of 16.3% YoY (year-over-year) compared to $72.9 million in 4Q14.
GAAP gross margin was 58% in 4Q15 compared to 56% in 4Q14. Operating loss was $3.1 million compared to $5.1 million in the same period. GAAP net loss for 4Q15 was $3 million compared to a net income of $1.4 million in 4Q14.
GAAP EPS (earnings per share) was -$0.02 compared to diluted EPS of $0.01 in the same period last year.
Glu Mobile reported non-GAAP revenues of $57.9 million in 4Q15 compared to $76.2 million in the same period last year. Non-GAAP revenue excludes changes in deferred revenue and litigation settlement proceeds. Non-GAAP gross margin was 63% in 4Q15 compared to 61% in 4Q14. Operating income stood at $2.1 million compared to $13.5 million in the same period.
Non-GAAP net income was $2.3 million with diluted EPS of $0.02 in 4Q15. This compares to net income of $12.2 million with diluted EPS of $0.11 in 4Q14. Adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) was $2.8 million in 4Q15 compared to $14.1 million in 4Q14.
Analysts expected Glu Mobile to report revenues of $50.5 million with EPS of -$0.03 in 4Q15.
Glu Mobile is a developer and publisher of free-to-play games for smartphones and tablets. The games are available on a wide range of platforms, including iOS (AAPL), Android (GOOG), and Windows (MSFT).