EDGAR Online Inc. (EDGR, Financial) filed Quarterly Report for the period ended 2010-06-30.
Edgar Online Inc. has a market cap of $29.7 million; its shares were traded at around $1.1 with and P/S ratio of 1.6. EDGR is in the portfolios of Jim Simons of Renaissance Technologies LLC.
Cost of revenues primarily consists of salaries and benefits of operations employees to create XBRL filings and produce data sets, fees paid to acquire data and the amortization of costs related to developing our I-Metrix products that were previously capitalized. Total cost of revenues for the three months ended June 30, 2010 increased $851, or 72%, to $2,032 from $1,181 for the three months ended June 30, 2009. The net increase in cost of revenues was primarily due to an $800 increase in payroll related expenses related to our XBRL filings business. Total cost of revenues for the six months ended June 30, 2010 increased $1,130, or 48%, to $3,462 from $2,332 for the three months ended June 30, 2009. The net increase in cost of revenues was primarily due to a $1,020 increase in payroll related expenses related to our XBRL filings business and a $136 increase in XBRL related production costs
Sales and Marketing. Sales and marketing expenses consist primarily of salaries and benefits, sales commissions, advertising expenses, and costs of marketing materials. Sales and marketing expenses for the three months ended June 30, 2010 decreased $88, or 11%, to $732 from $820 for the three months ended June 30, 2009. The net decrease was primarily due to a $73 decrease in payroll related expenses and a $67 decrease in stock compensation expenses which were partially offset by a $53 increase in professional fees. Sales and marketing expenses for the six months ended June 30, 2010 decreased $313 or 18%, to $1,436 from $1,749 for the six months ended June 30, 2009. The net decrease was primarily due to a $140 decrease in stock compensation expenses, a $95 decrease in payroll related fees and an $87 decrease in advertising and marketing expenses.
Development. Development expenses, which consist primarily of salaries and benefits and outside development costs, for the three months ended June 30, 2010 decreased $32, or 7%, to $423 from $455 for the three months ended June 30, 2009. The decrease was primarily due to a $12 decrease in payroll related expenses and a $13 decrease in stock compensation expenses. Development expenses for the six months ended June 30, 2010 decreased $181, or 18%, to $832 from $1,013 for the six months ended June 30, 2009. The decrease was primarily due to a $100 decrease in professional fees, a $55 decrease in payroll costs and a $25 decrease in stock compensation expense.
General and Administrative. General and administrative expenses consist primarily of salaries and benefits, insurance, fees for professional services, general corporate expenses and facility expenses. General and administrative expenses for the three months ended June 30, 2010 increased $484, or 26%, to $2,354 from $1,870 for the three months ended June 30, 2009. The net increase was primarily due to a $266 increase in professional fees, a $176 increase in payroll related expenses and an $80 increase in rent. General and administrative expenses for the six months ended June 30, 2010 increased $265, or 7%, to $4,165 from $3,900 for the six months ended June 30, 2009. The net increase was primarily due to a $179 increase in professional fees and a $92 increase in rent.
Depreciation and Amortization. Depreciation and amortization expenses include the depreciation of property and equipment and the amortization of definite lived intangible assets. Depreciation and amortization for the three months ended June 30, 2010 increased $191, or 36%, to $724 from $533 for the three months ended June 30, 2009. Depreciation and amortization for the six months ended June 30, 2010 increased $358, or 35%, to $1,388 from $1,030 for the six months ended June 30, 2009. The increases are a result of increased capital expenditures and the addition of amortization expense related to capitalized XBRL development costs.
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Edgar Online Inc. has a market cap of $29.7 million; its shares were traded at around $1.1 with and P/S ratio of 1.6. EDGR is in the portfolios of Jim Simons of Renaissance Technologies LLC.
Highlight of Business Operations:
Total revenues for the three months ended June 30, 2010 increased 10% to $5,020 from total revenues of $4,567 for the three months ended June 30, 2009. The net increase in revenues was primarily attributable to a $965, or 126%, increase in XBRL filings revenues which was partially offset by a $308, or 18% decrease in subscriptions revenues and a $204, or 10%, decrease in data and solutions revenues. Total revenues for the six months ended June 30, 2010 increased 7% to $9,386, from $8,802 for the six months ended June 30, 2009. The net increase in revenues was primarily attributable to a $1,673, or 166%, increase in XBRL filings revenues which was partially offset by a $645, or 18%, decrease in subscriptions revenues and a $444, or 10%, decrease in data and solutions revenues.Cost of revenues primarily consists of salaries and benefits of operations employees to create XBRL filings and produce data sets, fees paid to acquire data and the amortization of costs related to developing our I-Metrix products that were previously capitalized. Total cost of revenues for the three months ended June 30, 2010 increased $851, or 72%, to $2,032 from $1,181 for the three months ended June 30, 2009. The net increase in cost of revenues was primarily due to an $800 increase in payroll related expenses related to our XBRL filings business. Total cost of revenues for the six months ended June 30, 2010 increased $1,130, or 48%, to $3,462 from $2,332 for the three months ended June 30, 2009. The net increase in cost of revenues was primarily due to a $1,020 increase in payroll related expenses related to our XBRL filings business and a $136 increase in XBRL related production costs
Sales and Marketing. Sales and marketing expenses consist primarily of salaries and benefits, sales commissions, advertising expenses, and costs of marketing materials. Sales and marketing expenses for the three months ended June 30, 2010 decreased $88, or 11%, to $732 from $820 for the three months ended June 30, 2009. The net decrease was primarily due to a $73 decrease in payroll related expenses and a $67 decrease in stock compensation expenses which were partially offset by a $53 increase in professional fees. Sales and marketing expenses for the six months ended June 30, 2010 decreased $313 or 18%, to $1,436 from $1,749 for the six months ended June 30, 2009. The net decrease was primarily due to a $140 decrease in stock compensation expenses, a $95 decrease in payroll related fees and an $87 decrease in advertising and marketing expenses.
Development. Development expenses, which consist primarily of salaries and benefits and outside development costs, for the three months ended June 30, 2010 decreased $32, or 7%, to $423 from $455 for the three months ended June 30, 2009. The decrease was primarily due to a $12 decrease in payroll related expenses and a $13 decrease in stock compensation expenses. Development expenses for the six months ended June 30, 2010 decreased $181, or 18%, to $832 from $1,013 for the six months ended June 30, 2009. The decrease was primarily due to a $100 decrease in professional fees, a $55 decrease in payroll costs and a $25 decrease in stock compensation expense.
General and Administrative. General and administrative expenses consist primarily of salaries and benefits, insurance, fees for professional services, general corporate expenses and facility expenses. General and administrative expenses for the three months ended June 30, 2010 increased $484, or 26%, to $2,354 from $1,870 for the three months ended June 30, 2009. The net increase was primarily due to a $266 increase in professional fees, a $176 increase in payroll related expenses and an $80 increase in rent. General and administrative expenses for the six months ended June 30, 2010 increased $265, or 7%, to $4,165 from $3,900 for the six months ended June 30, 2009. The net increase was primarily due to a $179 increase in professional fees and a $92 increase in rent.
Depreciation and Amortization. Depreciation and amortization expenses include the depreciation of property and equipment and the amortization of definite lived intangible assets. Depreciation and amortization for the three months ended June 30, 2010 increased $191, or 36%, to $724 from $533 for the three months ended June 30, 2009. Depreciation and amortization for the six months ended June 30, 2010 increased $358, or 35%, to $1,388 from $1,030 for the six months ended June 30, 2009. The increases are a result of increased capital expenditures and the addition of amortization expense related to capitalized XBRL development costs.
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