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Press Release

Limelight Networks Reports Third-Quarter Results

Record Revenue and Customer Additions Set Stage for Continued Growth

Company Release - 11/5/2007 4:05 PM ET

TEMPE, Ariz.--(BUSINESS WIRE)--

Limelight Networks (Nasdaq: LLNW), a leading content delivery network (CDN) for digital media, today reported financial results for the quarter ended September 30, 2007.

The company reported third-quarter GAAP revenue of $29.2 million and Non-GAAP revenue of $28.0 million, representing growth of 67% and 61%, respectively, over the $17.5 million of revenue the company reported for the third quarter of 2006. The company reported adjusted EBITDA for the quarter of $4.9 million and raised earnings guidance for the full year. The company reported non-GAAP diluted earnings per share of $0.03 and a GAAP net loss per basic share of $(0.04) per share. A reconciliation of GAAP to Non-GAAP financial measures is provided in the table below.

"Limelight Networks' innovative and differentiated content delivery platform is seeing rapid growth as a solution of choice for companies in the online video, music, game, software and social media sectors," commented Jeff Lunsford, chairman and chief executive officer. "We are very pleased with our performance in the quarter and with the strong customer and revenue growth achieved."

    Operating highlights in the quarter include:

    --  The launch of LimelightHD, an innovative new service which
        provides end-users with a high-fidelity, high-definition media
        experience by bypassing the often congested public Internet
        and delivering HD content directly to "last-mile" broadband
        access networks;

    --  Record bookings, signing contracts with over 200 net new
        customers in the quarter and adding 112 net new customers into
        production, raising total production customers to 988;

    --  Solidifying Limelight's position as an industry thought leader
        with the highly regarded Digital Media 2010 event;

    --  Expansion of Limelight's network footprint with two new
        delivery regions in the Asia Pacific theater; and

    --  Achieving significant progress in the Company's five-year
        strategic partnership with Microsoft.

"We believe Limelight Networks is in a unique position," commented Lunsford, "to continue to advance the delivery and monetization of rich media over the Internet through innovation and collaboration with our strong network of customers and partners."

    Guidance

    For the fourth quarter of 2007, the company anticipates:

    --  GAAP and Non-GAAP revenue to be in the range of $28.0
        million to $30.0 million

    --  Adjusted EBITDA to be in the range $4.0 million to $5.0
        million

    --  Capex to be in the range of $8.0 million to $9.0 million

    For the full year of 2007, the company anticipates:

    --  GAAP revenue to be in the range of $102 million to
        $104 million

    --  Non-GAAP revenue to be in the range of $104.3 million to
        $106.3 million

    --  Adjusted EBITDA to be in the range of $20.7 million to $21.7
        million

    --  Capex to be in the range of $30.0 million to $31.0 million

    Conference Call

Management will conduct a conference call scheduled to begin at 2 p.m. PST (5 p.m. EST) on Monday, November 5, 2007 to review the company's financial results and its outlook for the remainder of 2007. To participate in the conference call, please call toll-free 877-574-8878 (or 706-634-6364 for international callers) approximately 10 minutes prior to the start time. You may also listen to the conference call live via the Internet at www.llnw.com or www.earnings.com. These websites will also host an archive of the call.

About Limelight Networks

Limelight Networks is a high-performance content delivery network for digital media, providing massively scalable, global delivery solutions for on-demand and live Internet distribution of video, music, games, software and social media. Limelight Networks' infrastructure is optimized for the large object sizes, large content libraries, and large audiences associated with compelling rich media content. Limelight is the content delivery network of choice for over 1,000 companies, including many of the world's top Internet, media and entertainment companies, including Microsoft Xbox LIVE, Sony Playstation 3, Akimbo, Amazon Unbox(TM), Belo Interactive, Brightcove, "BuyMusic" @ Buy.com, DreamWorks, LLC, Facebook, FOXNews.com, IFILM, ITV Play, MSNBC.com, NC Interactive and Valve. For more information, visit www.llnw.com.

Safe-Harbor Statement

This press release contains forward-looking statements concerning the outlook for the Company's revenues, net loss and stock-based compensation expense for the third-quarter of 2007, as well as the amendments to the Company's previously issued financial statements. Forward-looking statements are not guarantees and are subject to a number of risks and uncertainties that could cause actual results to differ materially including, but not limited to, final review of the results and amendments and preparation of quarterly financial statements, including consultation with our outside auditors. Accordingly, readers are cautioned not to place undue reliance on any forward-looking statements. The Company assumes no duty or obligation to update or revise any forward-looking statements for any reason.

Financial Statements

                       LIMELIGHT NETWORKS, INC.
                Condensed Consolidated Balance Sheets
                            (In thousands)
                             (Unaudited)

                                         September 30,    December 31,
                                             2007             2006
                                         -------------    ------------
                    Assets
Cash and cash equivalents                $     128,750    $      7,611
Marketable securities, short-term               65,370              --
Accounts receivable, net                        18,431          17,526
Income tax receivable                            4,136           2,980
Deferred income taxes, current                      --             362
Prepaid expenses and other current
 assets                                          5,506           3,011
                                          ------------     -----------

    Current assets                             222,193          31,490
Property and equipment, net                     47,544          41,784
Marketable securities, long-term                    69             285
Deferred income taxes                              259             106
Other assets                                     1,458             759
                                          ------------     -----------

    Total assets                         $     271,523    $     74,424
                                          ============     ===========

       Liabilities and stockholders'
        equity
Accounts payable                         $       1,805    $      6,419
Accounts payable, related parties                   17             781
Deferred revenue, current portion                  431             197
Credit facilities, current portion                  --           2,938
Capital lease obligations, current
 portion                                            --             245
Deferred income tax, current portion                33              --
Other current liabilities                       13,748           6,314
                                          ------------     -----------

    Current liabilities                         16,034          16,894
Deferred revenue, less current portion          11,860              --
Credit facilities, less current portion             --          20,456
Capital lease obligations, less current
 portion                                            --               5
Deferred income taxes, less current
 portion                                            30              --
Other liabilities                                   30              30
                                          ------------     -----------

    Total liabilities                           27,954          37,385
Stockholders' equity                           243,569          37,039
                                          ------------     -----------

    Total liabilities and stockholders'
     equity                              $     271,523    $     74,424
                                          ============     ===========
                       LIMELIGHT NETWORKS, INC.
           Condensed Consolidated Statements of Operations
                (In thousands, except per share data)
                             (Unaudited)


                                    Three Months Ended
                     ------------------------------------------------
                     September 30,  June 30,  September 30,  June 30,
                         2007         2007        2006         2006
                     -------------  --------  -------------  --------
Revenues             $      29,190  $ 21,436  $      17,454  $ 14,841
Costs and operating
 expenses:
  Cost of revenues
   (1) (3)                  17,773    14,835         10,200     7,266
  General and
   administrative
   (1) (3)                   8,117     8,831          4,679     2,275
  Sales and
   marketing (1)             7,421     6,404          1,860     1,497
  Research and
   development (1)           1,294     1,541          1,193       437
                      ------------   -------   ------------   -------

    Total costs and
     operating
     expenses               34,605    31,611         17,932    11,475
                      ------------   -------   ------------   -------

Operating income
 (loss)                     (5,415)  (10,175)          (478)    3,366
Interest expense (2)           (18)     (821)          (373)     (519)
Interest income              2,456       573             79        --
Other income                    33        --             70        --
                      ------------   -------   ------------   -------

Income (loss) before
 income taxes               (2,944)  (10,423)          (702)    2,847
Income tax expense             181       221            688     1,125
                      ------------   -------   ------------   -------

Net income (loss)    $      (3,125) $(10,644) $      (1,390) $  1,722
                     =============   =======   ============   =======

Net income (loss)
 allocable to common
 stockholders        $      (3,125) $(10,644) $      (1,390) $  1,417
                      ============   =======   ============   =======

Net income (loss)
 per share:
  Basic              $       (0.04) $  (0.23) $       (0.09) $   0.04
  Diluted            $       (0.04) $  (0.23) $       (0.09) $   0.04
Shares used in per
 share calculations:
  Basic                     82,045    45,791         15,670    31,648
  Diluted                   82,045    45,791         15,670    39,606


                                              Nine Months Ended
                                        -----------------------------
                                        September 30,   September 30,
                                            2007            2006
                                        -------------   -------------
Revenues                                $      73,979   $      43,133
Costs and operating expenses:
  Cost of revenues (1) (3)                     47,106          22,746
  General and administrative (1) (3)           24,723           8,553
  Sales and marketing (1)                      16,843           4,391
  Research and development (1)                  4,119           1,951
                                         ------------    ------------

    Total costs and operating expenses         92,791          37,641
                                         ------------    ------------

Operating income (loss)                       (18,812)          5,492
Interest expense (2)                           (1,412)         (1,397)
Interest income                                 3,118              79
Other income                                       33              70
                                         ------------    ------------

Income (loss) before income taxes             (17,073)          4,244
Income tax expense                                602           2,642
                                         ------------    ------------

Net income (loss)                       $     (17,675)  $       1,602
                                         ============    ============

Net income (loss) allocable to common
 stockholders                           $     (17,675)  $       1,065
                                         ============    ============

Net income (loss) per share:
  Basic                                 $       (0.35)  $        0.04
  Diluted                               $       (0.35)  $        0.03
Shares used in per share calculations:
  Basic                                        49,929          27,502
  Diluted                                      49,929          32,774


(1) Includes share-based compensation (see supplemental table for
     figures)

(2) Includes zero and approximately $424K of deferred financing fees
     for the three and nine month periods ended September 30, 2007

(3) Includes depreciation (see supplemental table for figures)
                       LIMELIGHT NETWORKS, INC.
                     Supplemental Financial Data
                            (In thousands)
                             (Unaudited)


                                    Three Months Ended
                     ------------------------------------------------
                     September 30,  June 30,  September 30,  June 30,
                         2007         2007        2006         2006
                     -------------  --------  -------------  --------
Supplemental
 financial data (in
 thousands):
Share-based
 compensation:
Cost of revenues     $         422  $    346  $         135  $     93
General and
 administrative              1,702     3,754          2,097        21
Sales and marketing          1,289     1,152             85        69
Research and
 development                   542     1,007            735        46
                      ------------   -------   ------------   -------

  Total share-based
   Compensation      $       3,955  $  6,259  $       3,052  $    229
Depreciation and
 amortization:
Network-related
 depreciation        $       5,602  $  5,020  $       2,900  $  2,035
Other depreciation             268       174             63        44
                      ------------   -------   ------------   -------

  Total depreciation
   and amortization  $       5,870  $  5,194  $       2,963  $  2,079
Capital
 expenditures:

Purchases of
 property and
 equipment           $      12,094  $  5,461  $      16,895  $  6,962

Net increase
 (decrease) in cash,
 cash equivalents
 and marketable
 securities          $       6,407  $174,891  $       8,019  $   (506)
End of period
 statistics:
  Number of
   production
   customers under
   recurring
   contract                    988       876            625       523
  Number of
   employees                   219       214            108        91


                                               Nine Months Ended
                                          ----------------------------
                                          September 30,  September 30,
                                              2007           2006
                                          -------------  -------------
Supplemental financial data (in
 thousands):
Share-based compensation:
Cost of revenues                          $       1,010  $         257
General and administrative                        9,199          2,139
Sales and marketing                               2,676            192
Research and development                          2,400            805
                                           ------------   ------------

  Total share-based Compensation          $      15,285  $       3,393
Depreciation and amortization:
Network-related depreciation              $      15,310  $       6,408
Other depreciation                                  579            135
                                           ------------   ------------

  Total depreciation and amortization     $      15,889  $       6,543
Capital expenditures:

Purchases of property and equipment       $      20,650  $      27,327

Net increase (decrease) in cash, cash
 equivalents and marketable securities    $     186,293  $       8,053
End of period statistics:
  Number of production customers under
   recurring contract                               988            625
  Number of employees                               219            108
                       LIMELIGHT NETWORKS, INC.
           Condensed Consolidated Statements of Cash Flows
                            (In thousands)
                             (Unaudited)


                                    Three Months Ended
                     ------------------------------------------------
                     September 30,  June 30,  September 30,  June 30,
                         2007         2007        2006         2006
                     -------------  --------  -------------  --------
Cash flows from
 operating
 activities:
  Net income (Loss)  $      (3,125) $(10,644) $      (1,390) $  1,722
  Adjustments to
   reconcile net
   income to net
   cash provided by
   (used in)
   operating
   activities:
    Depreciation and
     amortization            5,870     5,194          2,963     2,079
    Share-based
     compensation            3,955     6,259          3,052       229
    Deferred income
     tax expense
     (benefit)                (294)    1,048             (1)       80
    Accounts
     receivable
     charges                 1,689     1,170            242       177
    Accretion of
     debt discount              --       383             33        --
    Accretion of
     marketable
     securities               (277)       --             --        --
    Changes in
     operating
     assets and
     liabilities:
       Accounts
        receivable           1,202    (7,641)        (2,978)   (2,542)
       Prepaid
        expenses and
        other
        current
        assets                (143)     (545)          (908)     (301)
       Income taxes
        receivable             412      (848)           144       (80)
       Other assets           (153)     (426)           (25)     (127)
       Accounts
        payable             (1,883)   (2,981)         8,785     1,431
       Accounts
        payable,
        related
        parties                (19)     (763)          (958)      958
       Deferred
        revenue and
        Other
        current
        liabilities         10,471     9,018            860       720
                      ------------   -------   ------------   -------

  Net cash provided
   (used in) by
   operating
   activities:              17,705      (776)         9,819     4,346
                      ------------   -------   ------------   -------

Cash flows from
 investing
 activities:
    Purchase of
     marketable
     securities            (43,411)  (28,589)            --        --
    Sale of
     marketable
     securities              7,000        --             --        --
    Purchases of
     property and
     equipment             (12,094)   (5,461)       (16,895)   (6,962)
                      ------------   -------   ------------   -------

    Net cash used in
     investing
     activities            (48,505)  (34,050)       (16,895)   (6,962)
                      ------------   -------   ------------   -------

Cash flows from
 financing
 activities:
    Borrowings on
     credit
     facilities                 --        --          2,500     2,515
    Payments on
     credit
     facilities                 --   (23,818)       (11,435)     (327)
    Borrowings on
     line of credit             --        --             --        --
    Payments on line
     of credit                  --    (1,500)        (1,000)       --
    Payments on
     capital lease
     obligations                --       (91)           (72)      (79)
    Payments on
     notes payable
     -- related
     parties                    --        --             --        --
    Escrow funds
     returned from
     share
     repurchase              1,029     2,091            412        --
    Tax benefit from
     share-based
     compensation               --        --             --        --
    Proceeds from
     exercise of
     stock options               4        --          1,840         1
    Net proceeds
     from preferred
     stock issuance             --        --        126,423        --
    Repurchase of
     common stock               --        --       (102,121)       --
    Proceeds from
     initial public
     offering, net
     of issuance
     costs                    (586)  204,498             --        --
                      ------------   -------   ------------   -------

  Net cash provided
   by financing
   activities                  447   181,180         16,547     2,110
                      ------------   -------   ------------   -------

  Net increase
   (decrease) in
   cash and cash
   equivalents             (30,353)  146,354          9,471      (506)
  Cash and cash
   equivalents,
   beginning of
   period                  159,103    12,749          1,570     2,077
                      ------------   -------   ------------   -------

  Cash and cash
   equivalents, end
   of period         $     128,750  $159,103  $      11,041  $  1,571
                      ============   =======   ============   =======


                                              Nine Months Ended
                                         ----------------------------
                                         September 30,  September 30,
                                             2007           2006
                                         -------------  -------------
Cash flows from operating activities:
  Net income (Loss)                           $(17,675)     $   1,602
  Adjustments to reconcile net income to
   net cash provided by (used in)
   operating activities:
    Depreciation and amortization               15,889          6,543
    Share-based compensation                    15,285          3,393
    Deferred income tax expense
     (benefit)                                     286             (1)
    Accounts receivable charges                  3,536            419
    Accretion of debt discount                     424             69
    Accretion of marketable securities            (277)            --
    Changes in operating assets and
     liabilities:
       Accounts receivable                      (4,441)        (8,102)
       Prepaid expenses and other
        current assets                          (2,495)        (1,572)
       Income taxes receivable                    (126)           144
       Other assets                               (698)          (261)
       Accounts payable                         (5,595)         9,799
       Accounts payable, related parties          (781)          (362)
       Deferred revenue and Other
        current liabilities                     20,138          2,805
                                               -------       --------

  Net cash provided (used in) by
   operating activities:                        23,470         14,476
                                               -------       --------

Cash flows from investing activities:
    Purchase of marketable securities          (72,001)            --
    Sale of marketable securities                7,000             --
    Purchases of property and equipment        (20,650)       (27,327)
                                               -------       --------

    Net cash used in investing
     activities                                (85,651)       (27,327)
                                               -------       --------

Cash flows from financing activities:
    Borrowings on credit facilities                 --          9,055
    Payments on credit facilities              (23,818)       (11,933)
    Borrowings on line of credit                 1,500             --
    Payments on line of credit                  (1,500)        (1,000)
    Payments on capital lease
     obligations                                  (250)          (171)
    Payments on notes payable -- related
     parties                                        --           (195)
    Escrow funds returned from share
     repurchase                                  3,418            412
    Tax benefit from share-based
     compensation                                   23             --
    Proceeds from exercise of stock
     options                                        35          1,886
    Net proceeds from preferred stock
     issuance                                       --        126,423
    Repurchase of common stock                      --       (102,121)
    Proceeds from initial public
     offering, net of issuance costs           203,912             --
                                               -------       --------

  Net cash provided by financing
   activities                                  183,320         22,356
                                               -------       --------

  Net increase (decrease) in cash and
   cash equivalents                            121,139          9,505
  Cash and cash equivalents, beginning
   of period                                     7,611          1,536
                                               -------       --------

  Cash and cash equivalents, end of
   period                                     $128,750      $  11,041
                                               =======       ========

Use of Non-GAAP Financial Measures

In evaluating our business, we consider and use Non-GAAP revenue, Non-GAAP net income and Adjusted EBITDA as a supplemental measure of our operating performance. We consider Non-GAAP revenue and net income measurements to be an important indicator of overall performance of the company because it allows us to illustrate the impact of revenue generated from our multi-element contract as well as to eliminate the effects of share-based compensation and litigation expense. We define EBITDA as GAAP net income before net interest expense, provision for income taxes, depreciation and amortization. We define Adjusted EBITDA as EBITDA plus income from our multi-element contract and expenses that we do not consider reflective of our ongoing operations. We use Adjusted EBITDA as a supplemental measure to review and assess our operating performance. We also believe use of Adjusted EBITDA facilitates investors' use of operating performance comparisons from period to period and company to company by backing out potential differences caused by variations in such items as capital structures (affecting relative interest expense and share-based compensation expense), the book amortization of intangibles (affecting relative amortization expense), the age and book value of facilities and equipment (affecting relative depreciation expense) and other non cash expenses. We also present Adjusted EBITDA because we believe it is frequently used by securities analysts, investors and other interested parties as a measure of financial performance.

The terms Non-GAAP revenue and net income, EBITDA and Adjusted EBITDA are not defined under U.S. generally accepted accounting principles, or U.S. GAAP, and are not measures of operating income, operating performance or liquidity presented in accordance with U.S. GAAP. Our Non-GAAP revenue and net income, EBITDA and Adjusted EBITDA have limitations as analytical tools, and when assessing our operating performance, you should not consider Non-GAAP revenue and net income, EBITDA and Adjusted EBITDA in isolation, or as a substitute for net income (loss) or other consolidated income statement data prepared in accordance with U.S. GAAP. Some of these limitations include, but are not limited to:

    --  EBITDA and Adjusted EBITDA do not reflect our cash
        expenditures or future requirements for capital expenditures
        or contractual commitments;

    --  they do not reflect changes in, or cash requirements for, our
        working capital needs;

    --  they do not reflect the interest expense, or the cash
        requirements necessary to service interest or principal
        payments, on our debt;

    --  they do not reflect income taxes or the cash requirements for
        any tax payments;

    --  although depreciation and amortization are non-cash charges,
        the assets being depreciated and amortized often will have to
        be replaced in the future, and EBITDA and Adjusted EBITDA do
        not reflect any cash requirements for such replacements;

    --  while share-based compensation is a component of operating
        expense, the impact on our financial statements;

    --  compared to other companies can vary significantly due to such
        factors as assumed life of the options and assumed volatility
        of our common stock; and

    --  other companies may calculate EBITDA and Adjusted EBITDA
        differently than we do, limiting their usefulness as
        comparative measures.

We compensate for these limitations by relying primarily on our GAAP results and using Non-GAAP Net Income and Adjusted EBITDA only supplementally. Non-GAAP Net Income, EBITDA and Adjusted EBITDA are calculated as follows for the periods presented in thousands:

Reconciliation of Non-GAAP Financial Measures

In accordance with the requirements of Regulation G issued by the Securities and Exchange Commission, the company is presenting the most directly comparable GAAP financial measures and reconciling the non-GAAP financial metrics to the comparable GAAP measures.

          Reconciliation of GAAP Revenue to Non-GAAP Revenue
                            (In thousands)
                             (Unaudited)

                    Three Months Ended             Nine Months Ended
          --------------------------------------- --------------------
          September   June    September   June    September  September
             30,       30,       30,       30,       30,        30,
            2007      2007      2006      2006      2007       2006
          ---------  -------  ---------  -------  ---------  ---------
GAAP
 Revenue  $  29,190  $21,436  $  17,454  $14,841  $  73,979  $  43,133

Deferred
 Traffic
 Revenue     (2,645)   2,645         --       --         --         --
Deferred
 Custom
 CDN
 Services     1,504      820         --       --      2,324         --
           --------   ------   --------   ------   --------   --------

Non-GAAP
 Revenue  $  28,049  $24,901  $  17,454  $14,841  $  76,303  $  43,133
           ========   ======   ========   ======   ========   ========
Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income (Loss)
                (In thousands, except per share data)
                             (Unaudited)


                                    Three Months Ended
                     ------------------------------------------------
                     September 30,  June 30,  September 30,  June 30,
                         2007         2007        2006         2006
                     -------------  --------  -------------  --------
GAAP net income
 (loss)                    $(3,125) $(10,644)       $(1,390)   $1,722

  Share-based
   compensation              3,955     6,259          3,052       229
  Litigation
   expenses                  2,002     1,636            825        --
  Deferred revenue          (1,141)    3,465             --        --
  Deferred cost of
   traffic and
   services                    649      (935)            --        --
                            ------   -------         ------     -----


Non-GAAP net income        $ 2,340  $   (219)       $ 2,487    $1,951
                            ======   =======         ======     =====


                                               Nine Months Ended
                                          ----------------------------
                                          September 30,  September 30,
                                              2007           2006
                                          -------------  -------------
GAAP net income (loss)                    $     (17,675) $       1,602

  Share-based compensation                       15,285          3,393
  Litigation expenses                             4,523            825
  Deferred revenue                                2,324             --
  Deferred cost of traffic and services            (286)            --
                                           ------------   ------------


Non-GAAP net income                       $      (4,171) $       5,820
                                           ============   ============
Reconciliation of GAAP Net Income (Loss) to EBITDA to Adjusted EBITDA
                (In thousands, except per share data)
                             (Unaudited)


                                    Three Months Ended
                     ------------------------------------------------
                     September 30,  June 30,  September 30,  June 30,
                         2007         2007        2006         2006
                     -------------  --------  -------------  --------
GAAP net income
 (loss)              $      (3,125) $(10,644) $      (1,390) $  1,722

  Add: depreciation
   and amortization          5,870     5,194          2,963     2,079
  Add: interest
   expense                      18       821            373       519
  Less: interest
   income                   (2,490)     (573)           (79)       --
  Plus income tax
   expense                     181       221            688     1,125
                      ------------   -------   ------------   -------

EBITDA               $         454  $ (4,981) $       2,555  $  5,445
  Add: share-based
   compensation              3,955     6,259          3,052       229
  Add: litigation
   expenses
   recoverable from
   escrow (1)                1,001       818            413        --
  Add: deferred
   traffic and
   services revenue         (1,141)    3,465             --        --
  Less: deferred
   traffic and
   service costs               649      (935)            --        --
                      ------------   -------   ------------   -------

Adjusted EBITDA      $       4,918  $  4,626  $       6,020  $  5,674
                      ============   =======   ============   =======



                                              Nine Months Ended
                                         ----------------------------
                                         September 30,  September 30,
                                             2007           2006
                                         -------------  -------------
GAAP net income (loss)                        $(17,675)       $ 1,602

  Add: depreciation and amortization            15,889          6,543
  Add: interest expense                          1,412          1,397
  Less: interest income                         (3,151)           (79)
  Plus income tax expense                          602          2,642
                                               -------         ------

EBITDA                                        $ (2,923)       $12,105
  Add: share-based compensation                 15,285          3,393
  Add: litigation expenses recoverable
   from escrow (1)                               2,261            413
  Add: deferred traffic and services
   revenue                                       2,324             --
  Less: deferred traffic and service
   costs                                          (286)            --
                                               -------         ------

Adjusted EBITDA                               $ 16,661        $15,911
                                               =======         ======


(1) During 2006, we repurchased stock in a transaction with a total
     value of $102.1 million. Selling stockholders agreed to hold
     $10.1 million of the proceeds to offset specific claims for
     reimbursement associated with the Akamai lawsuit and other
     undisclosed obligations that may arise. For the three month
     periods ended September 30, 2007 and 2006, we had $1.0 million
     and $0.4 million, respectively, of litigation costs subject to
     reimbursement from this escrow. For the nine month periods ended
     September 30, 2007 and 2006, we had $2.3 million and $0.4
     million, respectively, of litigation costs subject to
     reimbursement from this escrow.

Source: Limelight Networks

Contact: Limelight Networks Matt Hale, Chief Financial Officer, 602-850-5000 or Silverman Heller Associates Phil Bourdillon/Gene Heller, 310-208-2550

Media Contacts

Steve Milmore
smilmore@llnw.com
or
Deborah Hohler
dhohler@llnw.com

Investor Contact

ir@llnw.com

Limelight Networks, Inc.

222 S. Mill Ave.
Tempe AZ 85281
602-850-5000
limelight.com

Transfer Agent

American Stock Transfer and Trust Company
59 Maiden Lane
Plaza Level
New York, NY 10038
Phone: (800) 937-5449
Fax: (718) 236-4588
E-mail: Info@amstock.com
www.amstock.com