The Company discloses a certain non-GAAP financial measure to supplement the Company's consolidated financial statements presented on a GAAP basis. This non-GAAP measure is not in accordance with, or an alternative for, generally accepted accounting principles in the United States and may be different from similar non-GAAP financial measures used by other companies. The non-GAAP financial measure disclosed by the Company is not meant to be considered superior to or a substitute for results of operations prepared in accordance with GAAP. Management uses Adjusted EBITDA (EBITDA adjusted for stock based-compensation, deferred revenue recognized, manufacturing transition costs and other non-cash expenses) to understand operational cash usage. The Company believes the non-GAAP financial measure provides useful and supplementary information allowing investors greater transparency to one measure used by management. The non-GAAP financial measure is meant to supplement, and to be viewed in conjunction with, GAAP financial measures. The non-GAAP financial measure is reconciled to the most comparable GAAP financial measure below.
NxStage Medical, Inc.Condensed Consolidated Statements of Operations(in thousands, except per share data)(unaudited)Three Months EndedSix Months EndedJune 30,June 30,2011201020112010Revenues
$53,768$44,008$104,332$ 84,416Cost of revenues
18,86513,76236,89825,575Operating expenses:Selling and marketing
9,3698,56518,57916,582Research and development
|SOURCE NxStage Medical, Inc.|
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