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Income and Bookings Forward of Steerage
Largest Annual Cellular Viewers Ever
Highest Annual Income and Bookings in Zynga Historical past
Robust Quarterly and Annual Working Money Move
SAN FRANCISCO — Zynga Inc. (NASDAQ: ZNGA) at the moment launched monetary outcomes for the fourth quarter and full yr ended December 31, 2021.
“Our robust This autumn outcomes capped off our report 2021 efficiency the place we delivered our highest annual income and bookings ever, whereas reaching the biggest cellular viewers in Zynga historical past,” mentioned Frank Gibeau, CEO of Zynga. “I’m pleased with our group’s execution throughout all features of our development technique together with stay companies, new sport improvement and investments in our promoting platform, new markets and applied sciences to solidify Zynga as a number one mobile-first, free-to-play stay companies firm.”
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Fourth Quarter 2021 Monetary Abstract
$ in tens of millions | This autumn’21 | This autumn’20 | Variance $ | Variance % | This autumn’21 | Variance $ | Variance % | |||||||||||||||||||
Income | $ | 695 | $ | 616 | $ | 79 | 13 | % | $ | 675 | $ | 20 | 3 | % | ||||||||||||
Change in deferred income & different bookings changes | $ | (31 | ) | $ | (83 | ) | $ | 52 | (62 | %) | $ | (40 | ) | $ | 9 | (22 | %) | |||||||||
Bookings | $ | 727 | $ | 699 | $ | 28 | 4 | % | $ | 715 | $ | 12 | 2 | % | ||||||||||||
Web revenue (loss) | $ | (67 | ) | $ | (53 | ) | $ | (14 | ) | 27 | % | $ | (60 | ) | $ | (7 | ) | 12 | % | |||||||
Adjusted EBITDA | $ | 147 | $ | 90 | $ | 57 | 63 | % | $ | 122 | $ | 25 | 20 | % | ||||||||||||
Be aware: Sure measures as offered differ because of the affect of rounding.
(1) Steerage as communicated at Q3’21 earnings.
- Income & Bookings: We achieved report This autumn income of $695 million, a rise of 13% year-over-year, and our best-ever quarterly bookings of $727 million, up 4% year-over-year. On-line sport or person pay income was $534 million, up 7% year-over-year, and person pay bookings have been $555 million, down 5% year-over-year. Promoting & different income was a quarterly report of $161 million, up 37% year-over-year, and promoting & different bookings have been an all-time better of $171 million, up 46% year-over-year.
- Viewers Metrics: Common cellular every day energetic customers (DAUs) have been 37 million, up 3% year-over-year, and common cellular month-to-month energetic customers (MAUs) have been 184 million, up 38% year-over-year. Cellular common bookings per cellular DAU (ABPU) of $0.204 decreased by 1% year-over-year.
- Prices & Bills: Price of income was $260 million or 37% of income, in comparison with 41% of income within the year-ago quarter. Non-GAAP price of income was $194 million or 27% of bookings, down from 28% of bookings within the year-ago quarter. GAAP working bills have been $437 million, representing 63% of income and an enchancment from 64% within the year-ago quarter. Non-GAAP working bills of $357 million represented 49% of bookings, versus 47% within the year-ago quarter.
- Profitability & Money Move: Web loss was $67 million, in comparison with $53 million within the year-ago quarter, and adjusted EBITDA was $147 million, up $57 million year-over-year. We generated working money stream of $158 million, down $48 million year-over-year.
2021 Annual Monetary Abstract
$ in tens of millions | FY21 | FY20 | Variance $ | Variance % | FY21 | Variance $ | Variance % | ||||||||||||||||||
Income | $ | 2,801 | $ | 1,975 | $ | 826 | 42 | % | $ | 2,780 | $ | 20 | 1 | % | |||||||||||
Change in deferred income & different bookings changes | $ | (25 | ) | $ | (295 | ) | $ | 270 | (91 | %) | $ | (34 | ) | $ | 9 | (26 | %) | ||||||||
Bookings | $ | 2,826 | $ | 2,270 | $ | 556 | 24 | % | $ | 2,814 | $ | 12 | 0 | % | |||||||||||
Web revenue (loss) | $ | (104 | ) | $ | (429 | ) | $ | 325 | (76 | %) | $ | (97 | ) | $ | (7 | ) | 8 | % | |||||||
Adjusted EBITDA | $ | 641 | $ | 266 | $ | 374 | 141 | % | $ | 616 | $ | 25 | 4 | % | |||||||||||
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Be aware: Sure measures as offered differ because of the affect of rounding.
(1) Steerage as communicated at Q3’21 earnings.
- Income & Bookings: We achieved our highest-ever annual income of $2,801 million, a rise of 42% year-over-year, and our best-ever annual bookings of $2,826 million, up 24% year-over-year. On-line sport income was a report $2,249 million, up 35% year-over-year, and person pay bookings have been a report $2,265 million, up 15% year-over-year. Promoting & different income was a report $551 million, up 79% year-over-year, and promoting & different bookings have been a report $561 million, up 83% year-over-year.
- Viewers Metrics: Document annual common cellular DAUs have been 39 million, up 41% year-over-year, and all-time greatest annual common cellular MAUs have been 184 million, up 107% year-over-year. Annual cellular ABPU of $0.194 decreased by 12% year-over-year.
- Prices & Bills: Price of income was $1,015 million or 36% of income, in comparison with 41% of income within the prior yr. Non-GAAP price of income was $787 million or 28% of bookings, down from 30% of bookings within the prior yr. GAAP working bills have been $1,730 million, representing 62% of income and a major enchancment from 78% within the prior yr. Non-GAAP working bills of $1,386 million represented 49% of bookings versus 46% within the prior yr.
- Profitability & Money Move: Web loss was $104 million, an enchancment of $325 million year-over-year, and adjusted EBITDA was $641 million, up $374 million year-over-year. We generated working money stream of $254 million, down $176 million year-over-year, and ended the yr with roughly $1.2 billion in money and investments.
Because of the pending transaction with Take-Two Interactive Software program introduced on January 10, 2022, Zynga will not be internet hosting a convention name or offering ahead steerage in reference to the discharge of its quarterly outcomes.
Please check with the unique press launch asserting the pending transaction with Take-Two Interactive Software program right here: https://investor.zynga.com/news-releases/news-release-details/take-two-and-zynga-combine-bringing-together-best-class
About Zynga Inc.
Zynga is a worldwide chief in interactive leisure with a mission to attach the world by means of video games. With huge world attain in additional than 175 nations and areas, Zynga has a various portfolio of fashionable sport franchises which were downloaded greater than 4 billion instances on cellular together with CSR Racing™, Empires & Puzzles™, FarmVille™, Golf Rival™, Hair Problem™, Harry Potter: Puzzles & Spells™, Excessive Heels!™, Merge Dragons!™, Merge Magic!™, Toon Blast™, Toy Blast™, Phrases With Pals™ and Zynga Poker™. With Chartboost, a number one cellular promoting and monetization platform, Zynga is an industry-leading next-generation platform with the power to optimize programmatic promoting and yields at scale. Based in 2007, Zynga is headquartered in California with places in North America, Europe and Asia. For extra data, go to www.zynga.com or observe Zynga on Twitter, Instagram, Fb or the Zynga weblog.
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Key Working Metrics
We handle our enterprise by monitoring a number of working metrics: “Cellular DAUs,” which measure every day energetic customers of our cellular video games, “Cellular MAUs,” which measure month-to-month energetic customers of our cellular video games, and “Cellular ABPU,” which measures our common every day cellular bookings per common Cellular DAU, every of which is recorded and estimated by our inside analytics programs. We decide these working metrics through the use of inside firm information based mostly on monitoring of person account exercise. We additionally use data offered by third events, together with third get together community logins offered by platform suppliers, to assist us observe whether or not a participant logged in underneath two or extra completely different person accounts is identical particular person. General, we imagine that the quantities are affordable estimates of our person base for the relevant interval of measurement and that the methodologies we make use of and replace from time-to-time are fairly based mostly on our efforts to establish developments in participant habits. Nonetheless, components regarding person exercise and programs and our skill to establish and detect makes an attempt to duplicate reputable participant exercise might affect these numbers.
Cellular DAUs. We outline Cellular DAUs because the variety of people who performed certainly one of our cellular video games throughout a selected day. Common Cellular DAUs for a selected interval is the typical of the Cellular DAUs for every day throughout that interval. Underneath this metric, a person who performs two completely different cellular video games on the identical day is counted as two DAUs. We use data offered by third events to assist us establish people who play the identical sport to scale back this duplication. Nonetheless, we should not have the third get together community login information to hyperlink a person who has performed underneath a number of person accounts for our hyper-casual video games (which incorporates the video games acquired from Rollic in October 2020), cellular messenger video games (previous to the third quarter of 2021), Puzzle Fight, Merge Magic! and video games acquired from Gram Video games in Could 2018, Small Big in January 2019, Peak in July 2020 and StarLark in October 2021, and accordingly, precise Cellular DAUs could also be decrease than reported because of the potential duplication of those people. We use Cellular DAUs as a measure of viewers engagement.
Cellular MAUs. We outline Cellular MAUs because the variety of people who performed certainly one of our cellular video games within the 30-day interval ending with the measurement date. Common Cellular MAUs for a selected interval is the typical of the Cellular MAUs at every month-end throughout that interval. Underneath this metric, a person who performs two completely different cellular video games in the identical 30-day interval is counted as two Cellular MAUs. We use data offered by third events to assist us establish people who play the identical sport to scale back this duplication. Nonetheless, we should not have the third get together community login information to hyperlink a person who has performed underneath a number of person accounts for our hyper-casual video games (which incorporates the video games acquired from Rollic in October 2020), cellular messenger video games (previous to the third quarter of 2021), Puzzle Fight, Merge Magic! and video games acquired from Gram Video games in Could 2018, Small Big in January 2019, Peak in July 2020 and StarLark in October 2021, and accordingly, precise Cellular MAUs could also be decrease than reported because of the potential duplication of those people. We use Cellular MAUs as a measure of complete sport viewers measurement.
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Cellular ABPU. We outline Cellular ABPU as our complete cellular bookings in a given interval, divided by the variety of days in that interval, divided by the typical Cellular DAUs throughout the interval. We imagine that Cellular ABPU supplies helpful data to traders and others in understanding and evaluating our ends in the identical method as administration. We use Cellular ABPU as a measure of total monetization throughout all of our gamers by means of the sale of digital objects and promoting.
Our enterprise mannequin round our social video games is designed in order that, as extra gamers play our video games, social interactions enhance and the extra worthwhile our video games and our enterprise turn out to be. All engaged gamers of our video games assist drive our bookings and, consequently, each on-line sport income and promoting income. Digital objects are bought by gamers who’re socializing with, competing towards or collaborating with different gamers, most of whom don’t purchase digital objects. Accordingly, we primarily give attention to Cellular DAUs, Cellular MAUs and Cellular ABPU, which we imagine collectively greatest mirror key viewers metrics.
Non-GAAP Monetary Measures
We’ve got offered on this press launch sure non-GAAP monetary measures to complement our consolidated monetary statements ready in accordance with U.S. GAAP (our “GAAP monetary statements”). Administration makes use of non-GAAP monetary measures internally in analyzing our monetary outcomes to evaluate operational efficiency and liquidity. Our non-GAAP monetary measures could also be completely different from non-GAAP monetary measures utilized by different firms.
The presentation of our non-GAAP monetary measures will not be meant to be thought-about in isolation or as an alternative choice to, or superior to, our GAAP monetary statements. We imagine that each administration and traders profit from referring to our non-GAAP monetary measures in assessing our efficiency and when planning, forecasting and analyzing future intervals. We imagine our non-GAAP monetary measures are helpful to traders as a result of they permit for better transparency with respect to key monetary measures we use in making working choices and since our traders and analysts use them to assist assess the well being of our enterprise.
We’ve got offered reconciliations of our non-GAAP monetary measures used on this press launch to essentially the most instantly comparable GAAP monetary measures within the following tables. Due to the next limitations of our non-GAAP monetary measures, you need to contemplate the non-GAAP monetary measures offered on this press launch with our GAAP monetary statements.
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Key limitations of our non-GAAP monetary measures embrace:
- Bookings doesn’t mirror that we defer and acknowledge on-line sport income and income from sure promoting transactions over the estimated common enjoying interval of payers for sturdy digital objects or as consumed for consumable digital objects; bookings additionally contains different changes;
- Adjusted EBITDA doesn’t embrace the affect of stock-based compensation expense, acquisition-related transaction bills, contingent consideration truthful worth changes and bills incurred from vacated leases (which incorporates impairment fees acknowledged);
- Adjusted EBITDA doesn’t mirror provisions for or advantages from revenue taxes and doesn’t embrace different revenue (expense) internet, which incorporates overseas change and asset disposition positive factors and losses, curiosity expense and curiosity revenue;
- Adjusted EBITDA excludes depreciation and amortization of tangible and intangible property. Though depreciation and amortization are non-cash fees, the property being depreciated or amortized might have to get replaced sooner or later;
- Free money stream is derived from internet money offered by working actions much less money spent on capital expenditures; and
- Non-GAAP Price of Income and Non-GAAP Working Bills don’t embrace the affect of amortization of intangible property from acquisitions, contingent consideration truthful worth changes, acquisition-related transaction bills, bills incurred from vacated leases or stock-based compensation expense.
ZYNGA INC. CONSOLIDATED BALANCE SHEETS (In tens of millions, unaudited) | ||||||||
December 31, | December 31, | |||||||
2021 | 2020 | |||||||
Belongings | ||||||||
Present property: | ||||||||
Money and money equivalents | $ | 984.0 | $ | 1,364.4 | ||||
Quick-term investments | 169.0 | 208.4 | ||||||
Accounts receivable, internet of allowance of $0.9 at December 31, 2021 and $0.5 at December 31, 2020 | 242.5 | 217.5 | ||||||
Restricted money | 161.0 | — | ||||||
Pay as you go bills | 56.7 | 40.0 | ||||||
Different present property | 35.4 | 29.5 | ||||||
Complete present property | 1,648.6 | 1,859.8 | ||||||
Lengthy-term investments | — | 2.0 | ||||||
Goodwill | 3,601.1 | 3,160.8 | ||||||
Intangible property, internet | 900.5 | 838.1 | ||||||
Property and gear, internet | 30.3 | 39.3 | ||||||
Proper-of-use property | 86.4 | 131.9 | ||||||
Restricted money | 40.2 | 136.0 | ||||||
Pay as you go bills | 25.0 | 21.6 | ||||||
Different non-current property | 26.8 | 17.0 | ||||||
Complete property | $ | 6,358.9 | $ | 6,206.5 | ||||
Liabilities and stockholders’ fairness | ||||||||
Present liabilities: | ||||||||
Accounts payable | $ | 95.6 | $ | 57.2 | ||||
Revenue tax payable | 52.2 | 39.6 | ||||||
Deferred income | 748.1 | 747.7 | ||||||
Working lease liabilities | 17.1 | 18.5 | ||||||
Different present liabilities | 650.4 | 462.4 | ||||||
Complete present liabilities | 1,563.4 | 1,325.4 | ||||||
Convertible senior notes, internet | 1,343.8 | 1,289.9 | ||||||
Deferred income | 0.3 | 0.3 | ||||||
Deferred tax liabilities, internet | 93.8 | 126.3 | ||||||
Non-current working lease liabilities | 133.4 | 122.0 | ||||||
Different non-current liabilities | 112.3 | 401.1 | ||||||
Complete liabilities | 3,247.0 | 3,265.0 | ||||||
Stockholders’ fairness: | ||||||||
Frequent inventory and extra paid-in capital | 5,625.0 | 5,276.5 | ||||||
Accrued different complete revenue (loss) | (107.1 | ) | (50.7 | ) | ||||
Accrued deficit | (2,406.0 | ) | (2,284.3 | ) | ||||
Complete stockholders’ fairness | 3,111.9 | 2,941.5 | ||||||
Complete liabilities and stockholders’ fairness | $ | 6,358.9 | $ | 6,206.5 | ||||
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ZYNGA INC. CONSOLIDATED STATEMENTS OF OPERATIONS (In tens of millions, besides per share information, unaudited) | ||||||||||||||||||||
Three Months Ended | Twelve Months Ended | |||||||||||||||||||
December 31, | September 30, | December 31, | December 31, | December 31, | ||||||||||||||||
Income: | ||||||||||||||||||||
On-line sport | $ | 534.0 | $ | 571.1 | $ | 498.6 | $ | 2,249.2 | $ | 1,667.2 | ||||||||||
Promoting and different | 161.4 | 133.6 | 117.4 | 551.3 | 307.6 | |||||||||||||||
Complete income | 695.4 | 704.7 | 616.0 | 2,800.5 | 1,974.8 | |||||||||||||||
Prices and bills: | ||||||||||||||||||||
Price of income | 260.1 | 240.8 | 250.4 | 1,014.9 | 811.8 | |||||||||||||||
Analysis and improvement | 151.9 | 143.5 | 122.0 | 545.9 | 713.7 | |||||||||||||||
Gross sales and advertising and marketing | 245.6 | 216.7 | 238.5 | 955.1 | 683.5 | |||||||||||||||
Common and administrative | 39.1 | 49.2 | 32.6 | 162.0 | 136.0 | |||||||||||||||
Impairment associated to actual property property | — | 66.8 | — | 66.8 | — | |||||||||||||||
Complete prices and bills | 696.7 | 717.0 | 643.5 | 2,744.7 | 2,345.0 | |||||||||||||||
Revenue (loss) from operations | (1.3 | ) | (12.3 | ) | (27.5 | ) | 55.8 | (370.2 | ) | |||||||||||
Curiosity revenue | 1.4 | 1.6 | 1.3 | 6.4 | 11.6 | |||||||||||||||
Curiosity expense | (15.0 | ) | (14.8 | ) | (9.0 | ) | (59.2 | ) | (30.3 | ) | ||||||||||
Different revenue (expense), internet | (10.2 | ) | (0.6 | ) | (11.7 | ) | (11.2 | ) | (16.5 | ) | ||||||||||
Revenue (loss) earlier than revenue taxes | (25.1 | ) | (26.1 | ) | (46.9 | ) | (8.2 | ) | (405.4 | ) | ||||||||||
Provision for (profit from) revenue taxes | 42.1 | 15.6 | 6.1 | 96.0 | 24.0 | |||||||||||||||
Web revenue (loss) | $ | (67.2 | ) | $ | (41.7 | ) | $ | (53.0 | ) | $ | (104.2 | ) | $ | (429.4 | ) | |||||
Web revenue (loss) per share attributable to widespread stockholders: | ||||||||||||||||||||
Primary | $ | (0.06 | ) | $ | (0.04 | ) | $ | (0.05 | ) | $ | (0.09 | ) | $ | (0.42 | ) | |||||
Diluted | $ | (0.06 | ) | $ | (0.04 | ) | $ | (0.05 | ) | $ | (0.09 | ) | $ | (0.42 | ) | |||||
Weighted common widespread shares used to compute internet revenue (loss) per share attributable to widespread stockholders: | ||||||||||||||||||||
Primary | 1,124.9 | 1,097.1 | 1,079.9 | 1,099.1 | 1,016.8 | |||||||||||||||
Diluted | 1,124.9 | 1,097.1 | 1,079.9 | 1,099.1 | 1,016.8 | |||||||||||||||
Inventory-based compensation expense included within the above line objects | ||||||||||||||||||||
Price of income | $ | 0.8 | $ | 0.8 | $ | 0.5 | $ | 2.8 | $ | 2.0 | ||||||||||
Analysis and improvement | 27.7 | 29.9 | 24.8 | 110.7 | 73.4 | |||||||||||||||
Gross sales and advertising and marketing | 4.8 | 4.4 | 3.8 | 17.8 | 14.7 | |||||||||||||||
Common and administrative | 8.9 | 9.5 | 8.7 | 35.9 | 32.5 | |||||||||||||||
Complete stock-based compensation expense | $ | 42.2 | $ | 44.6 | $ | 37.8 | $ | 167.2 | $ | 122.6 | ||||||||||
ZYNGA INC. CONSOLIDATED STATEMENTS OF CASH FLOWS (In tens of millions, unaudited) | ||||||||||||||||||||
Three Months Ended | Twelve Months Ended | |||||||||||||||||||
December 31, | September 30, | December 31, | December 31, | December 31, | ||||||||||||||||
Money flows from working actions: | ||||||||||||||||||||
Web revenue (loss) | $ | (67.2 | ) | $ | (41.7 | ) | $ | (53.0 | ) | $ | (104.2 | ) | $ | (429.4 | ) | |||||
Changes to reconcile internet revenue (loss) to internet money offered by (utilized in) working actions: | ||||||||||||||||||||
Depreciation and amortization | 68.2 | 58.1 | 55.0 | 238.9 | 142.1 | |||||||||||||||
Inventory-based compensation expense | 42.3 | 44.6 | 37.8 | 167.2 | 122.6 | |||||||||||||||
(Acquire) loss from derivatives, sale of investments and different property and overseas forex, internet | 18.3 | (1.6 | ) | 13.5 | 13.4 | 16.0 | ||||||||||||||
(Accretion) and amortization on marketable securities | — | — | 0.1 | — | (2.2 | ) | ||||||||||||||
Noncash lease expense | 4.0 | 4.2 | 4.1 | 16.9 | 15.9 | |||||||||||||||
Noncash curiosity expense | 13.7 | 13.5 | 7.5 | 53.9 | 26.4 | |||||||||||||||
Change in deferred revenue taxes and different | (6.9 | ) | (9.9 | ) | (21.8 | ) | (49.9 | ) | (32.9 | ) | ||||||||||
Impairment associated to actual property property | — | 66.8 | — | 66.8 | — | |||||||||||||||
Adjustments in working property and liabilities: | ||||||||||||||||||||
Accounts receivable, internet | (33.5 | ) | 68.0 | 33.3 | (9.2 | ) | 4.8 | |||||||||||||
Pay as you go bills and different property | (3.1 | ) | (10.7 | ) | 2.7 | (25.0 | ) | 9.1 | ||||||||||||
Accounts payable | 45.0 | 5.8 | 10.2 | 37.6 | 5.5 | |||||||||||||||
Deferred income | 22.1 | (36.6 | ) | 81.2 | 17.9 | 291.5 | ||||||||||||||
Revenue tax payable | (20.4 | ) | (12.9 | ) | 17.3 | 4.7 | 36.7 | |||||||||||||
Working lease and different liabilities | 75.6 | (49.0 | ) | 18.0 | (175.2 | ) | 223.1 | |||||||||||||
Web money offered by (utilized in) working actions | 158.1 | 98.6 | 205.9 | 253.8 | 429.2 | |||||||||||||||
Money flows from investing actions: | ||||||||||||||||||||
Purchases of investments | (1.5 | ) | (3.1 | ) | (117.1 | ) | (614.2 | ) | (677.1 | ) | ||||||||||
Maturities of investments | 83.5 | 194.2 | 13.9 | 652.3 | 1,038.5 | |||||||||||||||
Gross sales of investments | — | — | — | — | 549.9 | |||||||||||||||
Acquisition of property and gear | (5.7 | ) | (2.5 | ) | (2.7 | ) | (12.5 | ) | (18.8 | ) | ||||||||||
Proceeds from sale of property and gear | — | — | — | — | 0.1 | |||||||||||||||
Enterprise mixtures, internet of money acquired and restricted money held in escrow | (286.1 | ) | (192.2 | ) | (151.4 | ) | (508.3 | ) | (942.5 | ) | ||||||||||
Asset acquisitions of intangible property | — | (1.1 | ) | (6.0 | ) | (4.3 | ) | (6.0 | ) | |||||||||||
Launch of enterprise mixture restricted money held in escrow | — | — | — | — | (30.0 | ) | ||||||||||||||
Different investing actions, internet | (8.0 | ) | (4.9 | ) | (0.2 | ) | (13.9 | ) | (1.8 | ) | ||||||||||
Web money offered by (utilized in) investing actions | (217.8 | ) | (9.6 | ) | (263.5 | ) | (500.9 | ) | (87.7 | ) | ||||||||||
Money flows from financing actions: | ||||||||||||||||||||
Proceeds from issuance of debt, internet of issuance prices | — | — | 856.7 | (1.2 | ) | 856.7 | ||||||||||||||
Buy of capped calls | — | — | (63.0 | ) | — | (63.0 | ) | |||||||||||||
Taxes paid associated to internet share settlement of stockholders’ fairness awards | (2.5 | ) | (3.0 | ) | (14.3 | ) | (17.5 | ) | (57.2 | ) | ||||||||||
Proceeds from issuance of widespread inventory | 18.3 | 4.4 | 0.6 | 33.4 | 16.9 | |||||||||||||||
Acquisition-related contingent consideration funds | — | (31.0 | ) | — | (56.1 | ) | (63.6 | ) | ||||||||||||
Web money offered by (utilized in) financing actions | 15.8 | (29.6 | ) | 780.0 | (41.4 | ) | 689.8 | |||||||||||||
Impact of change price adjustments on money, money equivalents and restricted money | (19.3 | ) | (5.0 | ) | 4.5 | (26.7 | ) | 15.8 | ||||||||||||
Web change in money, money equivalents and restricted money | (63.2 | ) | 54.4 | 726.9 | (315.2 | ) | 1,047.1 | |||||||||||||
Money, money equivalents and restricted money, starting of interval | 1,248.4 | 1,194.0 | 773.5 | 1,500.4 | 453.3 | |||||||||||||||
Money, money equivalents and restricted money, finish of interval | $ | 1,185.2 | $ | 1,248.4 | $ | 1,500.4 | $ | 1,185.2 | $ | 1,500.4 | ||||||||||
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ZYNGA INC. RECONCILIATION OF GAAP TO NON-GAAP RESULTS (In tens of millions, unaudited) | ||||||||||||||||||||
Three Months Ended | Twelve Months Ended | |||||||||||||||||||
December 31, | September 30, | December 31, | December 31, | December 31, | ||||||||||||||||
Reconciliation of Income to Bookings: Complete | ||||||||||||||||||||
Income | $ | 695.4 | $ | 704.7 | $ | 616.0 | $ | 2,800.5 | $ | 1,974.8 | ||||||||||
Change in deferred income | 21.2 | (37.0 | ) | 82.9 | 15.3 | 295.1 | ||||||||||||||
Different bookings changes | 10.0 | — | — | 10.0 | — | |||||||||||||||
Bookings | $ | 726.6 | $ | 667.7 | $ | 698.9 | $ | 2,825.8 | $ | 2,269.9 | ||||||||||
Reconciliation of Income to Bookings: Cellular | ||||||||||||||||||||
Income | $ | 673.9 | $ | 685.1 | $ | 595.3 | $ | 2,719.0 | $ | 1,899.1 | ||||||||||
Change in deferred income | 21.1 | (35.8 | ) | 84.4 | 16.3 | 296.4 | ||||||||||||||
Bookings | $ | 695.0 | $ | 649.3 | $ | 679.7 | $ | 2,735.3 | $ | 2,195.5 | ||||||||||
Reconciliation of Income to Bookings: Promoting & Different | ||||||||||||||||||||
Income | $ | 161.4 | $ | 133.6 | $ | 117.4 | $ | 551.3 | $ | 307.6 | ||||||||||
Change in deferred income | 0.1 | — | (0.2 | ) | (0.1 | ) | (1.1 | ) | ||||||||||||
Different bookings changes | 10.0 | — | — | 10.0 | — | |||||||||||||||
Bookings | $ | 171.5 | $ | 133.6 | $ | 117.2 | $ | 561.2 | $ | 306.5 | ||||||||||
Reconciliation of Web Revenue (Loss) to Adjusted EBITDA | ||||||||||||||||||||
Web revenue (loss) | $ | (67.2 | ) | $ | (41.7 | ) | $ | (53.0 | ) | $ | (104.2 | ) | $ | (429.4 | ) | |||||
Provision for revenue taxes | 42.1 | 15.6 | 6.1 | 96.0 | 24.0 | |||||||||||||||
Different (revenue) expense, internet | 10.2 | 0.6 | 11.7 | 11.2 | 16.5 | |||||||||||||||
Curiosity revenue | (1.4 | ) | (1.6 | ) | (1.3 | ) | (6.4 | ) | (11.6 | ) | ||||||||||
Curiosity expense | 15.0 | 14.8 | 9.0 | 59.2 | 30.3 | |||||||||||||||
Depreciation and amortization | 67.6 | 57.7 | 55.0 | 237.9 | 142.1 | |||||||||||||||
Acquisition-related transaction bills | 4.6 | 15.7 | 1.1 | 25.2 | 12.5 | |||||||||||||||
Contingent consideration truthful worth adjustment | 28.9 | 21.6 | 23.5 | 80.0 | 359.2 | |||||||||||||||
Bills incurred from vacated lease(1) | 4.6 | 69.8 | — | 74.4 | — | |||||||||||||||
Inventory-based compensation expense | 42.2 | 44.6 | 37.8 | 167.2 | 122.6 | |||||||||||||||
Adjusted EBITDA | $ | 146.6 | $ | 197.1 | $ | 89.9 | $ | 640.5 | $ | 266.2 | ||||||||||
Reconciliation of GAAP Working Expense to Non-GAAP Working Expense | ||||||||||||||||||||
GAAP working expense | $ | 436.6 | $ | 476.2 | $ | 393.1 | $ | 1,729.8 | $ | 1,533.2 | ||||||||||
Acquisition-related transaction bills | (4.6 | ) | (15.7 | ) | (1.1 | ) | (25.2 | ) | (12.5 | ) | ||||||||||
Contingent consideration truthful worth adjustment | (28.9 | ) | (21.6 | ) | (23.5 | ) | (80.0 | ) | (359.2 | ) | ||||||||||
Bills incurred from vacated lease(1) | (4.6 | ) | (69.8 | ) | — | (74.4 | ) | — | ||||||||||||
Inventory-based compensation expense | (41.4 | ) | (43.8 | ) | (37.3 | ) | (164.4 | ) | (120.6 | ) | ||||||||||
Non-GAAP working expense | $ | 357.1 | $ | 325.3 | $ | 331.2 | $ | 1,385.8 | $ | 1,040.9 | ||||||||||
Reconciliation of Money Supplied by Working Actions to Free Money Move | ||||||||||||||||||||
Web money offered by (utilized in) working actions | 158.1 | 98.6 | 205.9 | 253.8 | 429.2 | |||||||||||||||
Acquisition of property and gear | (5.7 | ) | (2.5 | ) | (2.7 | ) | (12.5 | ) | (18.8 | ) | ||||||||||
Free money stream | $ | 152.4 | $ | 96.1 | $ | 203.2 | $ | 241.3 | $ | 410.4 | ||||||||||
| (1) | Quantity contains $66.8 million non-cash impairment cost associated to our San Francisco workplace constructing and associated leasehold enhancements, property and gear incurred in August 2021, in addition to subsequent lease and different bills (together with depreciation) related to the workplace constructing |
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ZYNGA INC. RECONCILIATION OF GAAP TO NON-GAAP COSTS AND EXPENSES (In tens of millions, unaudited) | ||||||||||||||||||||||||||
Three Months Ended December 31, 2021 | ||||||||||||||||||||||||||
GAAP | Amortization | Contingent | Acquisition- | Bills | Inventory-based | Non-GAAP | ||||||||||||||||||||
Price of income | $ | 260.1 | $ | (65.7 | ) | $ | — | $ | — | $ | — | $ | (0.8 | ) | $ | 193.6 | ||||||||||
Working bills | ||||||||||||||||||||||||||
Analysis and improvement | 151.9 | — | (28.9 | ) | (1.4 | ) | — | (27.7 | ) | 93.9 | ||||||||||||||||
Gross sales and advertising and marketing | 245.6 | — | — | (0.1 | ) | — | (4.8 | ) | 240.7 | |||||||||||||||||
Common and administrative | 39.1 | — | — | (3.1 | ) | (4.6 | ) | (8.9 | ) | 22.5 | ||||||||||||||||
Complete working bills | 436.6 | — | (28.9 | ) | (4.6 | ) | (4.6 | ) | (41.4 | ) | 357.1 | |||||||||||||||
Complete prices and bills | $ | 696.7 | $ | (65.7 | ) | $ | (28.9 | ) | $ | (4.6 | ) | $ | (4.6 | ) | $ | (42.2 | ) | $ | 550.7 | |||||||
Three Months Ended December 31, 2020 | ||||||||||||||||||||||||||
GAAP | Amortization | Contingent | Acquisition- | Bills | Inventory-based | Non-GAAP | ||||||||||||||||||||
Price of income | $ | 250.4 | $ | (51.3 | ) | $ | — | $ | — | $ | — | $ | (0.5 | ) | $ | 198.6 | ||||||||||
Working bills | ||||||||||||||||||||||||||
Analysis and improvement | 122.0 | — | (23.5 | ) | — | — | (24.8 | ) | 73.7 | |||||||||||||||||
Gross sales and advertising and marketing | 238.5 | — | — | — | — | (3.8 | ) | 234.7 | ||||||||||||||||||
Common and administrative | 32.6 | — | — | (1.1 | ) | — | (8.7 | ) | 22.8 | |||||||||||||||||
Complete working bills | 393.1 | — | (23.5 | ) | (1.1 | ) | — | (37.3 | ) | 331.2 | ||||||||||||||||
Complete prices and bills | $ | 643.5 | $ | (51.3 | ) | $ | (23.5 | ) | $ | (1.1 | ) | $ | — | $ | (37.8 | ) | $ | 529.8 | ||||||||
ZYNGA INC. RECONCILIATION OF GAAP TO NON-GAAP COSTS AND EXPENSES (In tens of millions, unaudited) | ||||||||||||||||||||||||||
Twelve Months Ended December 31, 2021 | ||||||||||||||||||||||||||
GAAP | Amortization | Contingent | Acquisition- | Bills | Inventory-based | Non-GAAP | ||||||||||||||||||||
Price of income | $ | 1,014.9 | $ | (225.2 | ) | $ | — | $ | — | $ | — | $ | (2.8 | ) | $ | 786.9 | ||||||||||
Working bills | ||||||||||||||||||||||||||
Analysis and improvement | 545.9 | — | (80.0 | ) | (5.5 | ) | — | (110.7 | ) | 349.7 | ||||||||||||||||
Gross sales and advertising and marketing | 955.1 | — | — | (2.9 | ) | — | (17.8 | ) | 934.4 | |||||||||||||||||
Common and administrative | 162.0 | — | — | (16.8 | ) | (7.6 | ) | (35.9 | ) | 101.7 | ||||||||||||||||
Impairment associated to actual property property | 66.8 | — | — | — | (66.8 | ) | — | — | ||||||||||||||||||
Complete working bills | 1,729.8 | — | (80.0 | ) | (25.2 | ) | (74.4 | ) | (164.4 | ) | 1,385.8 | |||||||||||||||
Complete prices and bills | $ | 2,744.7 | $ | (225.2 | ) | $ | (80.0 | ) | $ | (25.2 | ) | $ | (74.4 | ) | $ | (167.2 | ) | $ | 2,172.7 | |||||||
Twelve Months Ended December 31, 2020 | ||||||||||||||||||||||||||
GAAP | Amortization | Contingent | Acquisition- | Bills | Inventory-based | Non-GAAP | ||||||||||||||||||||
Price of income | $ | 811.8 | $ | (130.0 | ) | $ | — | $ | — | $ | — | $ | (2.0 | ) | $ | 679.8 | ||||||||||
Working bills | ||||||||||||||||||||||||||
Analysis and improvement | 713.7 | — | (359.2 | ) | — | — | (73.4 | ) | 281.1 | |||||||||||||||||
Gross sales and advertising and marketing | 683.5 | — | — | — | — | (14.7 | ) | 668.8 | ||||||||||||||||||
Common and administrative | 136.0 | — | — | (12.5 | ) | — | (32.5 | ) | 91.0 | |||||||||||||||||
Complete working bills | 1,533.2 | — | (359.2 | ) | (12.5 | ) | — | (120.6 | ) | 1,040.9 | ||||||||||||||||
Complete prices and bills | $ | 2,345.0 | $ | (130.0 | ) | $ | (359.2 | ) | $ | (12.5 | ) | $ | — | $ | (122.6 | ) | $ | 1,720.7 | ||||||||
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Traders@zynga.com
Media Relations:
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Press@zynga.com
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