Company Publishes Historical U.S. GAAP
Financial Statements for Reference Purposes
Kofax Limited (NASDAQ: KFX)(LSE: KFX), a leading provider
of smart process applications for the business critical First Mile™
of customer interactions, today announced that the Company has
voluntarily changed the basis of preparation of the Company’s
financial statements from International Financial Reporting
Standards (“IFRS”) to United States Generally Accepted Accounting
Principles (“GAAP”) effective as of July 1, 2014, the beginning of
its fiscal year 2015.
Jamie Arnold, Chief Financial Officer, said: "The majority of
our shares are now owned by U.S. investors and most of the trading
volume in our shares is now on NASDAQ. As a result, the Company has
chosen to change from IFRS to GAAP financial reporting as of July
1, 2014, and all of fiscal year 2015 and subsequent fiscal year
financial statements published, filed or furnished to the SEC and
UKLA will be prepared on a GAAP basis. We have attached unaudited
quarterly financial statements prepared in accordance with GAAP for
the seven quarter period from July 1, 2012 through March 31, 2014
for reference purposes.”
Arnold continued: “After converting the basis of preparation of
the Company’s financial statements to GAAP, we have concluded and
are able to report that the differences in reporting income
statement financial measures on GAAP rather than IFRS and Non-GAAP
rather than Non-IFRS are not material to the periods presented
below. The differences in balance sheet financial measures are
largely reclassifications and related to the amortization of
goodwill arising from acquisitions made in prior periods. The
tables below show the nominal and percentage difference between the
IFRS and GAAP and Non-IFRS and Non-GAAP financial measures for
Software License Revenue, Total Revenues and Adjusted EBITDA:”
Non-
IFRS vs. Non-GAAP For the Fiscal Year Ended June 30, 2013 For
the Nine Months Ended March 31, 2014
Non-
Non-
$
%
Non-
Non-
$ %
($ In millions, except for %)
IFRS
GAAP
Change
Change
IFRS
GAAP
Change Change Software License Revenue
$ 112.4 $ 112.0 $ (0.4 )
(0.4 )% $ 88.1 $ 88.2 $ 0.1
0.1 % Total Revenues $ 266.7 $ 266.5
$ (0.2 ) (0.1 )% $ 216.8 $ 217.1
$ 0.3 0.1 % Adjusted EBITDA
$ 46.3 $ 46.6 $ 0.3
0.6 % $ 28.7 $ 28.9 $ 0.1
0.5 %
IFRS vs. GAAP
For the Fiscal Year Ended June 30, 2013 For the Nine Months Ended
March 31, 2014
$
%
$
%
($ In millions, except for %)
IFRS GAAP
Change
Change
IFRS GAAP
Change
Change
Software License Revenue $ 112.2 $ 111.8
$ (0.4 ) (0.4 )% $
83.0 $ 83.1 $ 0.1 0.1 %
Total Revenues $ 266.3 $ 266.1 $ (0.2 )
(0.1 )% $ 210.2
$ 210.5 $ 0.3 0.1 % Income from
Operations $ 25.0 $ 25.1
$ 0.1 0.4 % $ 4.1
$ 4.2 $ 0.1 2.5 %
On September 2, 2014, when the Company publishes its last IFRS
audited financial statements for the fiscal year ended June 30,
2014, it will also provide GAAP financial statements and Non-GAAP
financial measures and supplemental reconciliations for the quarter
ended June 30, 2014.
About Kofax
Kofax Limited is a leading provider of smart process
applications for the business critical First Mile of customer
interactions. These begin with an organization’s systems of
engagement, which generate real time, information intensive
communications from customers, and provide an essential connection
to their systems of record, which are typically large scale, rigid
enterprise applications and repositories not easily adapted to more
contemporary technology. Success in the First Mile can dramatically
improve an organization’s customer experience and greatly reduce
operating costs, thus driving increased competitiveness, growth and
profitability. Kofax software and solutions provide a rapid return
on investment to more than 20,000 customers in financial services,
insurance, government, healthcare, business process outsourcing and
other markets. Kofax delivers these through its own sales and
service organization, and a global network of more than 800
authorized partners in more than 75 countries throughout the
Americas, EMEA and Asia Pacific. For more information, visit
kofax.com.
Non-IFRS and Non-GAAP Financial Measures
Management uses financial measures, both IFRS and Non-IFRS and
GAAP and Non-GAAP, in analyzing and assessing the overall
performance of the business and making operational decisions. We
have provided and believe that the Non-IFRS and Non-GAAP financial
measures and supplemental reconciliation to IFRS and GAAP financial
measures are useful to investors and other users of our financial
statements because the Non-IFRS and Non-GAAP financial measures may
be used as additional tools to compare our performance across peer
companies, periods and financial markets. Please refer to the
Discussion of Non-GAAP Measures in this press release for a
discussion of the Non-GAAP financial measures and their
reconciliation to GAAP financial measures for the seven quarter
period from July 1, 2012 through March 31, 2014 and for more
supplemental information regarding the non-IFRS measures.
© 2014 Kofax Limited. Kofax is a registered trademark and First
Mile is a trademark of Kofax Limited. All other registered
trademarks are the property of their respective owners
Source: RNSKofax
Kofax Limited
Unaudited Condensed Consolidated Balance Sheets ($ in
thousands)
Q1-2013
Q2-2013 Q3-2013
Q4-2013 Q1-2014
Q2-2014 Q3-2014 Assets Current
assets: Cash and cash equivalents 90,282 87,031 86,806 93,413
71,999 81,233 93,051 Accounts receivable, net 47,549 48,438 51,116
60,929 43,994 60,486 51,398 Other current assets 13,352 13,993
11,601 10,457 12,802 10,762 9,103 Income tax receivable 3,721 3,525
2,614 2,024 1,474 1,179 2,706 Deferred tax assets 1,313
1,238 1,442 3,670 4,425 6,650
5,955 Total current assets 156,217 154,225 153,579 170,493
134,694 160,310 162,213 Property and equipment, net 9,078
9,254 8,281 7,774 7,572 7,222 6,483 Goodwill 145,770 145,846
160,362 155,203 194,036 188,829 189,598 Acquired intangible assets,
net 25,704 24,081 21,641 26,839 42,271 40,153 38,038 Deferred tax
assets, net of current portion 667 629 733 1,607 3,088 2,413 1,872
Other non-current assets 5,227 4,821 3,998
3,672 3,511 3,469 4,287 Total Assets
342,663 338,856 348,594 365,588 385,172
402,396 402,491
Liabilities and
shareholders’ equity Current liabilities: Accounts payable and
accrued expenses 33,964 30,587 39,626 36,845 37,812 36,792 36,623
Deferred revenue 56,709 57,282 62,164 63,302 64,297 72,718 77,545
Income taxes payable 1,927 1,485 539 1,592 1,845 1,363 122 Deferred
tax liabilities 168 162 124 261 1,675 1,797 1,463 Contingent
consideration 5,594 6,283 7,275 6,334
9,552 7,977 4,680 Total current liabilities
98,362 95,799 109,728 108,334 115,181 120,647 120,433
Minimum pension liability 2,236 2,185 2,051 3,018 3,298 3,211 3,233
Deferred revenue, net of current portion 4,834 4,586 4,480 5,095
7,468 7,657 7,854 Deferred tax liabilities, net of current portion
5,131 4,940 3,794 7,993 7,848 6,938 6,258 Contingent consideration,
net of current portion 5,423 2,997 2,676 2,334 7,090 6,101 4,184
Other non-current liabilities 9,984 9,158 8,010
8,622 9,353 9,796 9,857 Total
liabilities 125,970 119,665 130,739 135,396
150,238 154,350 151,819
Shareholders’ equity: Common Stock 95 95 95 95 95 97 97 Additional
paid in capital 42,974 44,105 44,177 42,045 42,840 56,744 58,376
Employee benefit shares (17,371 ) (18,340 ) (18,340 ) (15,295 )
(14,929 ) (15,713 ) (15,417 ) Treasury shares (15,980 ) (15,980 )
(15,980 ) (15,980 ) (15,980 ) (15,980 ) (15,980 ) Retained earnings
184,893 185,142 184,791 195,664 198,386 199,861 200,488 Accumulated
other comprehensive income 22,082 24,169 23,112
23,663 24,522 23,037 23,108
Total shareholders’ equity 216,693 219,191 217,855
230,192 234,934 248,046 250,672
Total liabilities and shareholders’ equity 342,663
338,856 348,594 365,588 385,172 402,396
402,491
Kofax Limited
Unaudited Condensed Consolidated Statements of Income ($ in
thousands, except per share amounts)
Q1-2013 Q2-2013 Q3-2013 Q4-2013
Q1-2014 Q2-2014 Q3-2014 Revenue: Software
license 22,132 25,017 26,254 38,411 24,560 30,385 28,137
Maintenance services 29,908 30,835 30,011 31,190 32,150 33,556
32,584 Professional services 8,127 7,883 7,933
8,396 8,871 10,173 10,052 Total revenue
60,167 63,735 64,198 77,997 65,581
74,114 70,773 Cost of Revenue: Cost of
software licenses 2,431 2,295 2,576 3,386 2,656 3,029 1,955 Cost of
maintenance services 4,226 4,537 4,753 4,678 4,807 5,079 5,218 Cost
of professional services 6,925 7,205 7,182 7,031 7,629 8,218 8,129
Amortization of intangible assets 1,155 1,155 1,128
1,295 1,464 1,447 1,275 Total
cost of revenue 14,737 15,192 15,639 16,390 16,556 17,773 16,577
Gross Profit
45,430 48,543 48,559 61,607 49,025 56,341 54,196 Operating
Expenses:
Research and development
8,471 8,433 9,010 8,772 9,077 9,951 10,318 Sales and marketing
24,485 23,720 24,565 25,545 27,933 30,502 31,418 General and
administrative 9,328 9,907 9,082 8,719 9,439 9,695 10,428
Amortization of intangible assets 452 464 459 600 760 893 889
Acquisition-related costs 1,438 1,505 1,600 139 2,104 (2,208 ) 504
Other operating expenses, net 1,179 678 417
121 311 2,923 404 Total operating
expenses 45,353 44,707 45,133 43,896
49,624 51,756 53,961 Income/(loss) from
operations 77 3,836 3,426 17,711 (599 ) 4,585 235 Interest
(expense) income, net (102 ) (96 ) (99 ) (625 ) (110 ) (244 ) (153
) Other (expense) income, net (42 ) (1,561 ) (2,718 ) (1,602 )
4,161 (211 ) 1,495 Income/(loss), before tax
(67 ) 2,179 609 15,484 3,452 4,130 1,577 Income tax expense
411 1,929 960 4,612 730 2,655
951 Net income/(loss) (478 ) 250 (351 )
10,872 2,722 1,475 626 Net
income/(loss) per share: Basic (0.01 ) 0.00 (0.00 ) 0.13
0.03 0.02 0.01 Diluted (0.01 ) 0.00
(0.00 ) 0.12 0.03 0.02 0.01
Kofax Limited Unaudited Condensed
Consolidated Statements of Cash Flows ($ in thousands)
Q1-2013 Q2-2013
Q3-2013 Q4-2013
Q1-2014 Q2-2014
Q3-2014 Cash flows from operating activities: Net
income/(loss) (478 ) 250 (351 ) 10,872 2,722
1,475 626 Adjustments to reconcile profit
before tax to net cash flow from operating activities: Depreciation
and amortization 3,233 3,126 3,127 3,386 3,635 3,652 3,530
Share-based compensation expense 362 829 (294 ) 496 749 1,117 1,387
Other (expense) income 42 1,561 2,718 1,602 (4,161 ) 211 (1,495 )
Restructuring payments (840 ) (27 ) 6 (2 ) (100 ) (488 ) − Changes
in operating assets and
liabilities:
Accounts receivable, net 12,648 (1,098 ) (3,354 ) (9,577 ) 20,173
(16,666 ) 9,678 Other assets (976 ) (621 ) 3,191 (854 ) (1,184 )
2,108 1,011 Accounts and other payables (1,934 ) (3,809 ) 8,746
(2,950 ) (8,101 ) 2,592 163 Deferred revenue (2,899 ) 83 4,942
1,880 1,345 8,456 4,647 Other liabilities 922 1,015 (3,506 ) (617 )
1,263 (2,026 ) (961 ) Deferred income taxes (1,513 ) (13 ) (1,492 )
1,235 326 (1,277 ) 222 Income taxes payable (382 ) (928 ) (189 )
1,717 1,515 282 (2,710 ) Net cash inflow from
operating activities 8,185 368 13,544 7,188
18,182 (564 ) 16,098 Cash flows from
investing activities: Purchase of property and equipment (588 )
(645 ) (552 ) (1,265 ) (1,070 ) (1,107 ) (599 ) Acquisition of
subsidiaries, net of cash acquired (1,402 ) (3,097 ) (12,105 ) (155
) (40,141 ) (944 ) (4,302 ) Proceeds from sale of discontinued
operations − 600 3 − − − − Interest received 46 61 23
1 29 40 8 Net cash outflow from
investing activities (1,944 ) (3,081 ) (12,631 ) (1,419 ) (41,182 )
(2,011 ) (4,893 ) Cash flows from financing activities:
Issue of common stock 1,542 242 195 (65 ) 94 231 196 Proceeds from
US initial public offering − − − − − 12,366 − Excess tax benefits
from share based compensation 327 59 219 35 88 120 − Purchases of
and proceeds from EBT shares 16 (969 ) − 756
230 (711 ) 346 Net cash inflow from financing
activities 1,885 (668 ) 414 726 412
12,006 542 Effect of exchange rate changes on
cash and cash equivalents 1,034 130 (1,552 ) 112
1,174 (197 ) 71 Net increase/(decrease) in
cash and cash equivalents 9,160 (3,251 ) (225 ) 6,607 (21,414 )
9,234 11,818 Cash and cash equivalents at the beginning of
the year 81,122 90,282 87,031 86,806
93,413 71,999 81,233 Cash and cash equivalents
at the end of the year 90,282 87,031 86,806
93,413 71,999 81,233 93,051
Supplemental Disclosure: Cash paid for income taxes (1,851 ) (2,927
) (2,385 ) (3,586 ) (1,302 ) (3,568 ) (3,577 ) Cash paid for
interest (51 ) (170 ) (162 ) 38 (137 ) (138 ) (162 )
Discussion of Non-GAAP Measures
Management uses financial measures, both GAAP and non-GAAP, in
analyzing and assessing the overall performance of the business and
for making operational decisions. We have provided and believe that
the non-GAAP financial measures and supplemental reconciliation to
GAAP financial measures are useful to investors and other users of
our financial statements because the non-GAAP financial measures
may be used as additional tools to compare business performance
across peer companies, periods and financial markets.
While we use non-GAAP measures as a tool to enhance our
understanding of certain aspects of our financial performance, we
do not believe that these non-GAAP measures are a substitute for,
or are superior to, the information provided by GAAP results. As
such, the presentation of non-GAAP measures is not intended to be
considered in isolation or as a substitute for any measure prepared
in accordance with GAAP. The primary limitations associated with
the use of non-GAAP measures as compared to GAAP results are that
non-GAAP measures may not be comparable to similarly titled
measures used by other companies in our industry and that non-GAAP
measures may exclude financial information that some investors may
consider important in evaluating our performance. We compensate for
these limitations by providing disclosure of the differences
between non-GAAP measures and GAAP results, including providing a
reconciliation of each non-GAAP measure to GAAP results, to enable
investors to perform their own analysis of our operating
results.
Adjusted Revenue - We defined adjusted revenue as revenue, as
reported under GAAP, increased to include revenue that is
associated with our historic acquisitions that has been excluded
from reported results for a limited period due to the effects of
purchase accounting. In accordance with GAAP purchase accounting,
an acquired company’s deferred revenue at the date of acquisition
is subject to a fair value adjustment which generally reduces the
deferred amount and revenues recognized subsequent to an
acquisition. We include non-GAAP revenue to allow for more complete
comparisons to the financial results of our historical operations,
forward-looking guidance and the financial results of peer
companies. We believe these adjustments are useful to management
and investors as a measure of the ongoing performance of the
business. Additionally, although acquisition-related revenue
adjustments are non-recurring, we may incur similar adjustments in
connection with future acquisitions.
Adjusted Income from Operations - We define non-GAAP income from
operations as income/(loss) from operations, as reported under
GAAP, excluding the effect of Acquisition fair value adjustment to
revenue, Share-based compensation expense, Depreciation expense,
Amortization of acquired intangible assets, Acquisition-related
costs, Other operating expense, net. Share-based compensation
expense; depreciation expense and amortization of acquired
intangible assets in our non-GAAP income from operations
reconciliation represent non-cash charges which are not considered
by management in evaluating our operating performance.
Acquisition-related costs consist of: (i) costs directly
attributable to our acquisition strategy and the evaluation,
consummation and integration of our acquisitions (composed
substantially of professional services fees including legal,
accounting and other consultants and to a lesser degree to our
personnel whose responsibilities are devoted to acquisition
activities), and (ii) transition compensation costs (composed
substantially of contingent payments for shares that are treated as
compensation expense and retention payments that are anticipated to
become payable to employees, as well as severance payments to
employees whose positions were made redundant). These
acquisition-related costs are not considered to be related to the
continuing operations of the acquired businesses and are generally
not relevant to assessing or estimating the long-term performance
of the acquired assets. Other operating expense, net represents
items that are not necessarily related to our recurring operations
and which therefore are not, under GAAP, included in other expense
lines. Accordingly, we exclude those amounts when assessing
non-GAAP income from operations. At times when we are communicating
with our shareholders, analysts and other parties we refer to
non-GAAP income from operations as adjusted EBITDA.
We assess non-GAAP income from operations as a percentage of
total non-GAAP revenue and by doing so; we are able to evaluate our
relative performance of our revenue growth compared to the expense
growth for those items included in non-GAAP income from operations.
This measure allows management and our Board of Directors to
compare our performance against that of other companies in our
industry that may be of different sizes.
Adjusted Cash Flows from Operations - We define adjusted cash
flows from operations as net cash inflows from operating
activities, as reported under GAAP, adjusted for income taxes paid
and payments under restructurings. Income tax payments paid is
included in this reconciliation as the timing of cash payments and
receipts can vary significantly from year-to-year based on a number
of factors, including the influence of acquisitions on our
consolidated tax attributes. Payments for restructurings relate to
a specific activity that is not part of ongoing operations.
Adjusted diluted earnings per share - Adjusted diluted earnings
per share is calculated using GAAP net income/(loss) excluding the
effect of Acquisition fair value adjustment to revenue, Share-based
compensation expense, Amortization of intangible assets,
Acquisition-related costs, Net interest, Other income and expense,
and the related tax effect, divided by fully diluted shares
outstanding. Therefore, we include this non-GAAP measure in order
to provide a more complete comparison of our earnings per share
from one period to another.
Kofax Limited
Non-GAAP Measures ($ in thousands)
Acquisition
Fair Value Adjustments to Revenue
Q1-2013 Q2-2013 Q3-2013 Q4-2013
Q1-2014 Q2-2014 Q3-2014 Adjusted software
licenses: Software licenses 22,132 25,017 26,254 38,411 24,560
30,385 28,137 Acquisition fair value adjustment 43 42 39 32
1,515 2,187 1,400 Total adjusted software
licenses 22,175 25,059 26,293 38,443 26,075 32,572
29,537 Adjusted maintenance services:
Maintenance services 29,908 30,835 30,011 31,190 32,150 33,556
32,584 Acquisition fair value adjustment − 112 21 72 307
297 197 Total adjusted maintenance services
29,908 30,947 30,032 31,262 32,457 33,853
32,781 Adjusted professional services: Professional
services 8,127 7,883 7,933 8,396 8,871 10,173 10,052 Acquisition
fair value adjustment − − − − 314 516 (136 )
Total adjusted professional services 8,127 7,883 7,933 8,396
9,185 10,689 9,916 Total adjusted
revenue: Total revenue 60,167 63,735 64,198 77,997 65,581 74,114
70,773 Acquisition fair value adjustment 43 154 60 104 2,136
3,000 1,461 Total adjusted revenue 60,210
63,889 64,258 78,101 67,717 77,114 72,234
Adjusted Income from Operations
Q1-2013 Q2-2013 Q3-2013 Q4-2013
Q1-2014 Q2-2014 Q3-2014 Income from operations
77 3,836 3,426 17,711 (599 ) 4,585 235 Acquisition fair value
adjustment to revenue 43 154 60 104 2,136 3,000 1,461 Share-based
compensation expense 362 829 (294 ) 496 749 1,117 1,387
Depreciation expense 1,583 1,465 1,501 1,460 1,383 1,288 1,349
Amortization of intangible assets 1,607 1,619 1,587 1,895 2,224
2,340 2,164 Acquisition-related costs 1,438 1,505 1,600 139 2,104
(2,208 ) 504 Other operating expenses, net 1,179 678 417 121
311 2,923 404 Adjusted income from operations
6,289 10,086 8,297 21,926 8,308 13,045 7,504
Kofax Limited
Non-GAAP Measures ($ in thousands, except per share amounts)
Adjusted Diluted Earnings per Share
Q1-2013 Q2-2013 Q3-2013
Q4-2013 Q1-2014 Q2-2014 Q3-2014 Net
income (loss) (478 ) 250 (351 ) 10,872 2,722 1,475 626 Acquisition
fair value adjustment to revenue 43 154 60 104 2,136 3,000 1,461
Share-based compensation expense 362 829 (294 ) 496 749 1,117 1,387
Amortization of intangible assets 1,607 1,619 1,587 1,895 2,224
2,340 2,164 Acquisition-related costs 1,438 1,505 1,600 139 2,104
(2,208 ) 504 Net interest, other income and expense, net 1,323
2,335 3,234 2,348 (3,740 ) 3,378 (938 ) Tax effect of above
adjustments (753 ) (1,126 ) (990 ) (1,431 ) (2,116 ) (1,721 ) (391
) Adjusted net income 3,542 5,566 4,846 14,423
4,079 7,381 4,813 Adjusted diluted
earnings per share 0.04 0.06 0.05 0.16
0.04 0.08 0.05
Reconciliation of Adjusted Cash Flows
from Operations
Q1-2013 Q2-2013 Q3-2013 Q4-2013
Q1-2014 Q2-2014 Q3-2014 Cash
inflows/(outflows) from operations 8,185 368 13,544 7,188 18,182
(564 ) 16,098 Cash paid for income taxes, net 1,851 2,927 2,385
3,586 1,302 3,568 3,577 Payments under restructuring 840 27
(6 ) 2 100 488 − Adjusted cash
inflows/ (outflows) from operations 10,876 3,322
15,923 10,776 19,584 3,492 19,675
Income Statements – Non-GAAP
Q1-2013 Q2-2013 Q3-2013 Q4-2013
Q1-2014 Q2-2014 Q3-2014 Adjusted revenue:
Software licenses 22,175 25,059 26,293 38,443 26,075 32,572 29,537
Maintenance services 29,908 30,947 30,032 31,262 32,457 33,853
32,781 Professional services 8,127 7,883 7,933
8,396 9,185 10,689 9,916 Total revenue
60,210 63,889 64,258 78,101 67,717
77,114 72,234 Cost of software
licenses* 2,413 2,279 2,560 3,371 2,642 3,021 1,950 Cost of
maintenance services* 4,072 4,397 4,611 4,524 4,663 4,945 5,080
Cost of professional services* 6,631 6,945 6,928 6,763 7,384 8,009
7,920 Research and development* 7,976 7,902 8,487 8,371 8,527 9,342
9,617 Sales and marketing* 23,936 22,974 24,374 24,707 27,153
29,543 30,282 General and administrative* 8,893 9,306
9,001 8,439 9,040 9,209 9,881
Total operating expenses* 53,921 53,803 55,961
56,175 59,409 64,069 64,730
Adjusted income from operations 6,289 10,086 8,297
21,926 8,308 13,045 7,504
* Excludes depreciation, amortization, and share-based compensation
expense
Kofax Limited Supplemental Schedules
($ in thousands)
Depreciation Expense
Q1-2013 Q2-2013
Q3-2013 Q4-2013
Q1-2014 Q2-2014
Q3-2014 Cost of software licenses 18 16 16 15 14 8 5 Cost of
maintenance services 154 140 142 140 130 117 121 Cost of
professional services 293 260 253 242 220 193 193 Research and
development 419 402 425 430 410 399 423 Sales and marketing 462 423
440 420 410 392 425 General and administrative 237 224 225
213 199 179 182 Total depreciation expense 1,583 1,465 1,501
1,460 1,383 1,288 1,349
Share-Based
Compensation Expense Q1-2013 Q2-2013
Q3-2013 Q4-2013 Q1-2014 Q2-2014
Q3-2014 Cost of software licenses − − − − − − − Cost of
maintenance services − − − 14 14 17 17 Cost of professional
services 1 − 1 26 25 16 16 Research and development 76 129 98 (29 )
140 210 278 Sales and marketing 87 323 (249 ) 418 370 567 711
General and administrative 198 377 (144 ) 67 200 307 365
Total share-based compensation expense 362 829 (294 ) 496
749 1,117 1,387
Media Contact:Kofax LimitedColleen EdwardsVice President,
Corporate
Communications+1-949-783-1582colleen.edwards@kofax.comorInvestor
Contacts:MKR Group Inc.Todd Kehrli,
+1-323-468-2300kfx@mkr-group.comorFTI ConsultingSophie McMillan,
+44 (0) 20 7831 3113kofax@fticonsulting.com
Kofax (LSE:KFX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Kofax (LSE:KFX)
Historical Stock Chart
From Jul 2023 to Jul 2024