Cybersecurity Company Forescout Jumps on Earnings
The company has gained 17.85% on Nasdaq on Friday after announcing its results Thursday
Lilach Baumer | 08:35 11.02.2019
Cybersecurity company ForeScout Technologies Inc. closed 17.85% up on Nasdaq Friday, reaching $36.44 after publishing its fourth quarter and annual results for the fiscal year 2018 on Thursday during after market hours. The company reported $84.7 million in sales for the fourth quarter, a 35% increase year-over-year, outperforming consensus analyst expectations. GAAP operating loss was $17.2 million, or 20% of total revenue, compared to a loss of $33.7 million in the same period in 2017. The company reported a positive free cash flow of $5.2 million, compared to negative $7.4 million in the fourth quarter of 2017. For the full year, ForeScout reported total revenues of $297.7 million, a 33% increase year-over-year. GAAP net loss attributable to common stockholders was $74.8 million—$1.83 per share—compared to $93.5 million, or $8.20 per share, in 2017.
For the first quarter of 2019, ForeScout forecasts revenues of $71.9 million to $74.9 million, a year-over-year increase of 23% at the midpoint.