Riverbed Technology, Inc. Reports Record Fourth Quarter and Full Year 2006 Financial Results

-- Quarterly Revenues Increase by 37% Sequentially and 219% Year-Over-Year
-- Over 300 New Customers Added.

Riverbed Technology, Inc., the performance leader in wide-area data services (WDS), today released financial results for the fourth quarter and full year ended December 31, 2006.

Revenues for the fourth quarter of 2006 were $33.8 million, which represents a sequential increase of 37% from the immediately preceding quarter and a year-over-year increase of 219% from the fourth quarter of last year. The net loss on a GAAP basis for the fourth quarter of 2006 was $2.4 million, or $0.04 per share, compared to a net loss of $3.1 million, or $0.16 per share, in the third quarter of 2006 and a net loss of $4.7 million, or $0.43 per share, in the fourth quarter of 2005. Riverbed's fourth quarter of 2006 GAAP results included $4.8 million of non-cash stock-based compensation expenses.

Excluding the impact of stock-based compensation in all periods, assuming preferred shares were converted as of the later of their issuance or the beginning of the respective periods, and including dilutive shares in the fourth quarter of 2006, the non-GAAP net income for the fourth quarter of 2006 was $2.4 million, or $0.03 per share, compared to a non-GAAP net loss of $1.0 million, or $0.02 per share, in the third quarter of 2006 and a non-GAAP net loss of $4.2 million, or $0.09 per share, in the fourth quarter of 2005.

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