Dollinger index

478 ENTREPRENEURSHIP CASE

Service RevenueProduct RevenueOther RevenueTotal PC PostagePhotoStamps Revenue

Total Revenue

Prior Quarter Paid

Customers

1

New Paid Customers

2

Lost P

aid Customers

3

Current Quarter paid

Customers

1

Paid Customer Cancel

Rate

4

Total Subscriber & Related

Revenue ($000)

5

Avg. Monthly Subscriber

Revenue Per PaidCustomer

6

PC Postage Customer

Acquisition Spend

7

Cost Per Gross New

Registered Customer

8

Customer Postage

Printed ($000)

PhotoStamps Sheets

Shipped (000)

PC Postage Gross MarginPhotoStamps Gross MarginTotal Gross MarginGAAP Net Income ($000)Non-GAAP Net

Income ($000)

9

Non-GAAP EPS

10

$ 9,100

1,885

813

11,797

0

$11,797285,55846,482(40,936)291,104

4.1%

$11,338$ 12.98$ 4,423$ 58$44,948

0

73.4%

NA

73.4%$1,640$1,640$ 0.07

$10,438

1,826

800

13,0641,159$14,223291,10454,775

(46,171)299,708

4.4%

$12,601$ 14.01$ 4,807$ 73$44,951

68

75.4%34.1%72.0%$2,121$2,121$ 0.09

$10,945

1,766

777

13,4881,785$15,273299,70841,798

(48,035)293,471

4.7%

$13,035$14.81$ 4,453$ 80$45,939

105

78.4%33.6%73.2%$ 2,565$ 2,565$ 0.11

$11,907

1,889

865

14,6615,957$20,618293,47150,331

(44,370)299,432

4.3%

$14,205$ 15.81$ 4,321$ 51$52,804

345

81.8%40.7%69.9%$ 4,103$ 4,103$ 0.17

$42,390

7,3663,254

53,010

8,901

$63,912

77.5%38.4%71.8%

$10,429$10,429$ 0.44

$13,457

2,393

832

16,6823,860$20,542299,43269,612

(44,728)324,316

4.0%

$16,228$ 16.68$ 5,316$ 54$57,280

210

79.0%37.3%71.1%

$ 3,357$ 4,151$ 0.17

$13,628

1.980

805

16,413

3,747

$20,160324,31661,733(59,296)326,753

5.1%

$15,954$ 16.28$ 4,935$ 57$54,691

210

80.8%36.5%72.6%

$ 4,160$ 4,856$ 0.20

$13,057

1,924

780

15,7613,148$18,909326,75350,763

(67,015)310,501

5.9%

$15,307$ 16.43$ 4,965

$59

$54,783

176

80.9%33.8%73.1%

$ 4,263$ 4,982$ 0.21

$13,685

2,399

846

16,9308.045$24,975310,50157,019

(48,294)319,226

4.4%

$16,476$ 17.20$ 4,937

$57

$62,429

464

79.3%41.2%67.0%

$ 4,684$ 5,112$ 0.22

$53,827

8,6963,262

65,78518.801$84,586 80.0%38.2%70.7%$16,464$19,101$ 0.79

EXHIBIT 1 Stamps.com Performance and Metrics

2005 2006

Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total

(Definitions and notes presented on next page)