BeFree financials

[rcjordan]

For the year ended December 31, 2000, Be Free's revenue increased 269 percent to $19.7 million compared with $5.3 million for 1999. The company recorded a net loss for 2000, excluding non-cash charges for equity-related compensation, merger-related items and extraordinary items, of $16.8 million, or $0.28 per share, compared with $15.6 million, or $0.82 per share, for 1999...

...Be Free continued a low cash burn rate of $4 million from operations in the fourth quarter. The company spent $2 million for capital expenditures for a total cash burn of $6 million in the fourth quarter.

"We expect to have more than $100 million in cash reserve by the time we reach the breakeven level excluding non-cash charges, which we continue to believe will occur in the first quarter of fiscal 2002...."

article here [befree.com]

[Drastic]

What the heck are they spending all the $$$ on?

Their back-end system has needed a serious overhaul for some time, and their customer service leaves a lot to be desired.

With their growth, it seems they would be improving these areas, rather than ignoring them.