Investor Relations

Financial Statements

AUTOBYTEL INC.

UNAUDITED CONSOLIDATED CONDENSED BALANCE SHEETS

(Amounts in thousands, except share and per-share data)

	March 31,			December 31,
	2013				2012*
Assets
Current assets:
Cash and cash equivalents	$	14,718		$	15,296
Accounts receivable, net of allowances for bad debts and customer credits of $443 and $426 at March 31, 2013 and December 31, 2012, respectively		11,717			10,081
Prepaid expenses and other current assets		498			504
Total current assets		26,933			25,881
Property and equipment, net		1,588			1,593
Intangible assets, net		1,204			1,539
Goodwill		11,677			11,677
Other assets		148			77
Total assets	$	41,550		$	40,767
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$	5,279		$	3,837
Accrued expenses and other current liabilities		4,297			5,377
Deferred revenues		2			168
Total current liabilities		9,578			9,382
Convertible note payable		5,000			5,000
Other non-current liabilities		667			620
Total liabilities		15,245			15,002
Commitments and contingencies		—			—
Stockholders' equity:
Preferred stock, $0.001 par value; 11,445,187 shares authorized; none outstanding		—			—
Common stock, $0.001 par value; 200,000,000 shares authorized and 8,863,400 and 8,855,400 shares issued and outstanding at March 31, 2013 and December 31, 2012, respectively		9			9
Additional paid-in capital		306,458			306,252
Accumulated deficit		(280,162	)		(280,496	)
Total stockholders' equity		26,305			25,765
Total liabilities and stockholders' equity	$	41,550		$	40,767

* Amounts were derived from audited financial statements

AUTOBYTEL INC.

UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF INCOME

AND COMPREHENSIVE INCOME

(Amounts in thousands, except per-share data)

	Three Months Ended March 31,
	2013			2012
Revenues:
Lead fees	$	17,517		$	15,794
Advertising		715			859
Other revenues		29			52
Total revenues		18,261			16,705
Cost of revenues (excludes depreciation of $28 and $32 for the three months ended March 31, 2013 and 2012, respectively)		11,669			9,869
Gross profit		6,592			6,836
Operating expenses:
Sales and marketing		2,241			2,345
Technology support		1,705			1,828
General and administrative		2,290			2,015
Depreciation and amortization		424			402
Litigation settlements		(71	)		(70	)
Total operating expenses		6,589			6,520

Operating income		3			316
Interest and other income (expense), net		402			(1	)
Income before income tax provision		405			315
Income tax provision		71			62
Net income and comprehensive income	$	334		$	253

Basic income per common share	$	0.04		$	0.03

Diluted income per common share	$	0.04		$	0.03

AUTOBYTEL INC.

UNAUDITED CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

(Amounts in thousands)


	Three Months Ended March 31,
	2013			2012
Cash flows from operating activities:
Net income	$	334		$	253
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization		538			508
Provision for bad debts		8			36
Provision for customer credits		169			86
Share-based compensation		186			281
Changes in assets and liabilities:
Accounts receivable		(1,813	)		(564	)
Prepaid expenses and other current assets		6			188
Other assets		(71	)		—
Accounts payable		1,442			1,024
Accrued expenses and other current liabilities		(1,052	)		(819	)
Deferred revenues		(166	)		(100	)
Non-current liabilities		47			1
Net cash (used in) provided by operating activities		(372	)		894
Cash flows from investing activities:
Purchases of property and equipment		(198	)		(39	)
Change in short-term investment		—			350
Net cash (used in) provided by investing activities		(198	)		311
Cash flows from financing activities:
Proceeds from exercise of stock options		20			5
Payment of contingent fee arrangement		(28	)		(83	)
Repurchase of common stock		—			(224	)
Net cash used in financing activities		(8	)		(302	)
Net (decrease) increase in cash and cash equivalents		(578	)		903
Cash and cash equivalents, beginning of period		15,296			11,209
Cash and cash equivalents, end of period	$	14,718		$	12,112