Favrille Reports First Quarter 2008 Financi...( (in thousands except ...)

(in thousands, except per share data)

Unaudited

Three Months ended

March 31,

2008 2007

Operating expenses:

Research and development $ 8,063 $ 7,997

Marketing, general and

administrative 2,556 2,912

Total operating expenses 10,619 10,909

Interest income 281 565

Interest expense (233) (187)

Change in valuation of

warrants 89 -

Total other income, net 137 378

Net loss $ (10,482) $ (10,531)

Net loss per share:

Basic and diluted $ (0.25) $ (0.34)

Weighted-average shares --

basic and diluted 41,182 30,690

FAVRILLE, INC.

(a development stage company)

STATEMENTS OF CASH FLOWS

(in thousands)

Unaudited

Three Months ended

March 31,

2008 2007

Operating activities:

Net loss $ (10,482) $ (10,531)

Adjustments to reconcile net loss to

net cash used in operating activities:

Depreciation and amortization 1,080 659

Stock-based compensation 1,117 1,054

Amortization of premiu
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