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I'm hoping someone will help clarify these statements form MBLY investor relations page:

Net Income (loss) and Earnings (loss) per Share: GAAP net loss for the third quarter of 2014 was $(13.1) million or $(0.09) per ordinary share. This compares to GAAP net income of $5.5 million, but a net loss applicable to ordinary shares of $(228.8) million, resulting in a net loss of $(6.09) per ordinary share during the third quarter of 2013. (This was a one-time adjustment to the net income related to the benefit to participating shareholders from the August 2013 private placement). GAAP results included share-based compensation expense of $22.8 million for the third quarter of 2014 and $2.5 million for the third quarter of 2013.
Non-GAAP net income for the third quarter of 2014 was $9.7 million or $0.04 per share based on 232.9 million weighted average diluted shares outstanding. This compares to non-GAAP net income of $7.9 million, or $0.04 per share based on 206.0 million weighted average diluted shares outstanding during the third quarter of 2013. Non-GAAP net income excludes share-based compensation expenses.


Is the private placement related to the IPO? How do these numbers represent a great quarter?
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