BladeLogic Reports Q3

LEXINGTON, Mass. -- BladeLogic, Inc. (NASDAQ:BLOG), a provider of leading data center automation software, today announced its financial results for the quarter ended June 30, 2007.

Financial Highlights

Revenue for the third fiscal quarter of 2007 was $16,208,000, compared to $7,751,000 in the third fiscal quarter of 2006, an increase of 109%. Revenue for the nine months ended June 30, 2007 was $43,276,000, compared to $19,969,000 for the nine months ended June 30, 2006, an increase of 117%. The Company's net loss for the third fiscal quarter of 2007 was $(272,000), compared with a net loss of $(2,955,000) in the third fiscal quarter of 2006. Net loss attributable to common stockholders, which includes the accretion of the Companys redeemable preferred stock and redeemable convertible preferred stock that was fully converted into common stock at the time of the Company’s initial public offering, was $(362,000), or a loss of $(0.03) per share, in the third fiscal quarter of 2007, compared with net loss attributable to common stockholders of $(3,072,000), or a loss of $(0.27) per share, in the third fiscal quarter of 2006. The Company's net loss for the nine months ended June 30, 2007 was $(467,000), compared with a net loss of $(7,060,000) in the nine months ended June 30, 2006. Net loss attributable to common stockholders was approximately $(773,000), or a loss of $(0.06) per share, in the nine months ended June 30, 2007, compared with net loss attributable to common stockholders of $(7,410,000), or a loss of $(0.65) per share, in the nine months ended June 30, 2006.

The Company's non-GAAP adjusted income from operations for the third fiscal quarter of 2007, which excludes non-cash stock-based compensation expense of $383,000, was $125,000, compared to a non-GAAP adjusted loss from operations of $(2,029,000) for the third fiscal quarter of 2006, which excludes non-cash stock-based compensation expense of $990,000. Non-GAAP adjusted income from operations for the nine months ended June 30, 2007 was $296,000, which excludes non-cash stock-based compensation expense of $880,000, compared to a non-GAAP adjusted loss from operations of $(5,865,000) for the nine months ended June 30, 2006, which excludes non-cash stock-based compensation expense of $1,331,000. Non-GAAP adjusted income (loss) from operations is a non-GAAP financial measure that the Company’s management uses to evaluate the Company’s performance and for internal planning and forecasting purposes. A reconciliation of the non-GAAP financial measures used in this release to the most comparable GAAP measure is included at the end of this press release.

Cash and cash equivalents were $13,104,000 at June 30, 2007, which amount does not reflect the estimated $66.1 million of net proceeds from the Company’s initial public offering in July 2007, after underwriting discounts and commissions, deal costs and the redemption of all outstanding shares of redeemable preferred stock. As of June 30, 2007, the Company had approximately 12.5 million common shares outstanding or 26.7 million common shares outstanding on a pro forma basis after assuming the conversion of all outstanding redeemable convertible preferred stock and issuance of shares of the Company’s common stock in the July 2007 initial public offering.“The third quarter was a strong quarter for BladeLogic, and this is the fourth consecutive quarter of over 100% year-over-year organic revenue growth,” said Dev Ittycheria, BladeLogic’s President & CEO. “Not only have we demonstrated strong and consistent revenue growth, but also leverage in the profitability of our business as the Company continues to grow. Moreover, we added to the momentum of the business with the Company’s successful initial public offering this past July.”

BladeLogic Inc.