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Twitter’s Revenue From The Start Of Last Year Leaks, And It’s Ugly

Source: http://www.businessinsider.com/leaked-twitters-early-business-financials-2012-3


Dick Costolo Web 2.0 stage

Ryan Tate over at Gawker got his hands on some of Twitter’s financial numbers for 2010 and early 2011 — and they aren’t pretty.

In the first quarter of 2011, Twitter brought in $23.8 million in revenue and lost $49.2 million — with a net loss of $25.8 million for the quarter.

2010 doesn’t look that great, either: the company brought in $28.5 million and had a net loss of $67.8 million.

It’s important to note that this is all before Twitter really got serious about advertising. It’s revenue should have grown nicely through the year. But, the company doubled headcount, so it could still have serious losses.

Here’s the breakdown from the Gawker piece, according to Tate’s source who “has knowledge of the company’s finances”:

Jan. 2011 – Apr. 2011

Revenue: $23.8 million

Cost of revenue: $18.7 million
R&D cost: $13.1 million
Sales and marketing cost: $5.4 million
General administrative cost: $12.0 million
Total costs and expenses: $49.2 million

Loss from operations: $25.4 million
Loss from interest and other: $404,000

Net loss (non GAAP): ($25.8 million)

Jan. 2010 – Dec. 2010

Revenue: $28.5 million
Net loss: ($67.8 million)
Assets: $221.5 million (as of Dec. 2010)
Liabilities: $221.5 million (as of Dec. 2010)

We’ve reached out to Twitter for comment, but haven’t heard back yet.

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Friday, March 9th, 2012 news No Comments

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