FireEye Reports Record Revenue for Fourth Quarter and Full Year 2017
- Q4 Revenue of
$202.3 million , an increase of 10 percent from the fourth quarter of 2016 - Q4 Billings of
$242.2 million , an increase of 9 percent from the fourth quarter of 2016 - Q4 Cash flow generated by operations was
$33.6 million , an increase of 384 percent from the fourth quarter of 2016 - Deferred revenue of
$670.7 million , an increase of$39.9 million from the end of the third quarter of 2017 and an increase of$17.2 million from the end of 2016 - Strong Q4 performance against all key financial metrics and for all major product groups and geographic regions, including record sales for Endpoint Security, Helix, iSIGHT threat intelligence and Mandiant services
“We achieved strong results across all key financial metrics in the
fourth quarter and delivered against our year-long commitment of
billings and revenue growth, non-GAAP operating profitability, and
positive operating and free cash flow by the fourth quarter,” said
“We are building
Fourth Quarter 2017 Financial Results
-
Revenue of
$202.3 million , an increase of 10 percent from the fourth quarter of 2016, and above the guidance range of$190 million to $196 million . -
Billings of
$242.2 million , an increase of 9 percent from the fourth quarter of 2016, and above the guidance range of$210 million to $230 million .1 - GAAP gross margin of 66 percent, compared to 65 percent in the fourth quarter of 2016.
- Non-GAAP gross margin of 75 percent, compared to 74 percent in the fourth quarter of 2016, and consistent with guidance of approximately 75 percent.1
- GAAP operating margin of negative 33 percent, compared to negative 27 percent in the fourth quarter of 2016.
- Non-GAAP operating margin of positive 1 percent, compared to negative 1 percent in the fourth quarter of 2016, and consistent with the guidance range of approximately negative 1 percent to positive 1 percent.1
-
GAAP net loss per share of
$0.42 , compared to a GAAP net loss per share of$0.37 in the fourth quarter of 2016. -
Non-GAAP net income per share of
$0.01 , compared to a non-GAAP net loss per share of$0.03 in the fourth quarter of 2016, and better than the guidance range of non-GAAP net loss per share of$0.00 to $0.03 .1 -
Cash flow generated by operations was
$33.6 million , compared to cash flow generated by operations of$6.9 million in the fourth quarter of 2016, and better than the guidance range of$16 million to $25 million . Cash flow generated by operations in the fourth quarter of 2017 was reduced by a payment of$12.5 million in net legal settlement costs.
2017 Financial Results
-
Revenue of
$751.1 million , an increase of 5 percent from 2016, and above the guidance range of$739 million to $745 million . -
Billings of
$768.3 million , a decrease of 6 percent from 2016, and above the guidance range of$736 million to $756 million .1 - GAAP gross margin of 64 percent, compared to 62 percent in 2016.
- Non-GAAP gross margin of 74 percent, compared to 73 percent in 2016.1
- GAAP operating margin of negative 34 percent, compared to negative 62 percent in 2016.
- Non-GAAP operating margin of negative 3 percent, compared to negative 21 percent in 2016.1
-
GAAP net loss per share of
$1.71 , compared to a GAAP net loss per share of$2.94 in 2016. -
Non-GAAP net loss per share of
$0.16 , compared to a non-GAAP net loss per share of$0.99 in 2016, and equal to the low end of the non-GAAP net loss per share guidance range of$0.16 to $0.19 .1 -
Cash flow generated by operations was
$17.6 million , compared to cash flow used in operations of$14.6 million in 2016, and better than the guidance range for cash flow generated by operations of$1 million to$10 million . Cash flow generated by operations in 2017 was reduced by a payment of$12.5 million in net legal settlement costs.
1 A reconciliation of GAAP to non-GAAP financial measures is provided in the financial statement tables included in this press release. An explanation of these measures is also included under the heading “Non-GAAP Financial Measures.”
First Quarter and 2018 Outlook
For the first quarter of 2018,
-
Total revenue in the range of
$192 million to $197 million . -
Billings in the range of
$165 million to $175 million . - Non-GAAP gross margin of approximately 74 percent.
- Non-GAAP operating margin of approximately negative 2 percent to negative 4 percent.
-
Non-GAAP net loss per share of
$0.03 to $0.06 . -
Cash flow generated by operations between zero dollars and negative
$10 million .
Non-GAAP net loss per share for the first quarter assumes cash interest
expense of approximately
For 2018,
-
Revenue in the range of
$815 million to $825 million . -
Billings in the range of
$810 million to $830 million . - Non-GAAP operating margin between 1 percent and 2 percent.
-
Non-GAAP net income per share between
$0.00 and $0.04 . -
Positive cash flow generated by operations of
$45 million to $55 million . -
Capital expenditures between
$35 million and $40 million , including approximately$12 million in capital expenditures associated with the relocation of the company's headquarters to a new building inJanuary 2018 .
Non-GAAP net income per share for 2018 assumes cash interest expense of
approximately
Guidance for non-GAAP financial measures excludes stock based compensation, amortization of intangible assets, and non-cash interest expense related to the company’s convertible senior notes. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis due to the uncertainty regarding, and the potential variability of, the amounts of stock-based compensation expense, amortization of intangible assets, and non-recurring expenses that may be incurred in the future. Stock-based compensation expense is impacted by the company’s future hiring and retention needs, as well as the future fair market value of the company’s common stock, all of which is difficult to predict and subject to constant change. The actual amount of stock-based compensation in the first quarter of 2018 and full year 2018 will have a significant impact on the company’s GAAP operating margin and net loss per share. Further, amortization of intangible assets, as well as other non-recurring expenses, if any, will also impact results. Accordingly, a reconciliation of the non-GAAP financial measure guidance to the corresponding GAAP measures is not available without unreasonable effort.
2018 Analyst Day Scheduled for
The company has scheduled its 2018 Analyst Day for
Conference Call Information
Forward-Looking Statements
This press release contains forward-looking statements, including statements related to future financial results for the first quarter and full year 2018, including revenue, billings, non-GAAP gross margin, non-GAAP operating margin, cash flows generated by operations, interest expense, provision for income taxes, non-GAAP net income (loss) per share, basic and diluted weighted average shares outstanding and capital expenditures in the section entitled “First Quarter and 2018 Outlook” above, as well as statements related to future growth, profitability, innovation, competitive advantages, and adapting as the threat landscape evolves.
These forward-looking statements involve risks and uncertainties, as
well as assumptions which, if they do not fully materialize or prove
incorrect, could cause FireEye’s results to differ materially from those
expressed or implied by such forward-looking statements. The risks and
uncertainties that could cause FireEye’s results to differ materially
from those expressed or implied by such forward-looking statements
include customer demand and adoption of FireEye’s products and services;
real or perceived defects, errors or vulnerabilities in
All forward-looking statements in this press release are based on
information available to the company as of the date hereof, and
Non-GAAP Financial Measures
In this release
Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable financial information prepared in accordance with GAAP, and should be read only in conjunction with the company's consolidated financial statements prepared in accordance with GAAP. A reconciliation of the company's non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included in this press release, and investors are encouraged to review the reconciliation.
Billings.
Non-GAAP gross margin, operating income, operating margin, net income
(loss), net income (loss) per share, and free cash flow.
Non-GAAP net income and net income per share in the fourth quarter of
2017 excluded stock-based compensation expense, amortization of
intangible assets, acquisition-related expenses, non-cash interest
expense related to the convertible senior notes issued in
Non-GAAP net loss and net loss per share for the fourth quarter of 2016
excluded stock-based compensation expense, amortization of intangible
assets, change in fair value of contingent earn-out liability, non-cash
interest expense related to the convertible senior notes issued in
Non-GAAP net loss and net loss per share for 2017 excluded stock-based
compensation expense, amortization of intangible assets,
acquisition-related expenses, change in the fair value of contingent
earn-out liability, non-cash interest expense related to the convertible
senior notes issued in
Non-GAAP net loss and net loss per share for 2016 excluded stock-based
compensation expense, amortization of intangible assets,
acquisition-related expenses, change in fair value of contingent
earn-out liability, restructuring costs, non-cash interest expense
related to the convertible senior notes issued in
There are a number of limitations related to the use of these non-GAAP
financial measures versus their nearest GAAP equivalents. First, these
non-GAAP financial measures exclude stock-based compensation expense.
Stock-based compensation expense has been and will continue to be for
the foreseeable future a significant recurring expense in the company's
business. Stock-based compensation is an important part of
About
© 2018
FireEye, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, in thousands) |
|||||||||
December 31, 2017 |
December 31, 2016 |
||||||||
Assets | |||||||||
Current assets: | |||||||||
Cash and cash equivalents | $ | 180,891 | $ | 223,667 | |||||
Short-term investments | 715,911 | 712,058 | |||||||
Accounts receivable, net | 140,049 | 121,150 | |||||||
Inventories | 5,746 | 5,955 | |||||||
Prepaid expenses and other current assets | 34,541 | 25,081 | |||||||
Total current assets | 1,077,138 | 1,087,911 | |||||||
Property and equipment, net | 71,357 | 61,852 | |||||||
Goodwill | 984,661 | 978,260 | |||||||
Intangible assets, net | 187,388 | 244,032 | |||||||
Deposits and other long-term assets | 11,537 | 10,910 | |||||||
Total assets | $ | 2,332,081 | $ | 2,382,965 | |||||
Liabilities and Stockholders' Equity | |||||||||
Current liabilities: | |||||||||
Accounts payable | $ | 35,684 | $ | 20,269 | |||||
Accrued and other current liabilities | 19,569 | 22,997 | |||||||
Accrued compensation | 59,588 | 96,004 | |||||||
Deferred revenue, current portion | 443,064 | 397,118 | |||||||
Total current liabilities | 557,905 | 536,388 | |||||||
Convertible senior notes, net | 779,578 | 741,980 | |||||||
Deferred revenue, non-current portion | 227,680 | 256,398 | |||||||
Other long-term liabilities | 22,102 | 7,087 | |||||||
Total liabilities | 1,587,265 | 1,541,853 | |||||||
Stockholders' equity: | |||||||||
Common stock | 19 | 17 | |||||||
Additional paid-in capital | 2,891,441 | 2,682,909 | |||||||
Treasury stock | (150,000 | ) | (150,000 | ) | |||||
Accumulated other comprehensive loss | (2,881 | ) | (1,742 | ) | |||||
Accumulated deficit | (1,993,763 | ) | (1,690,072 | ) | |||||
Total stockholders’ equity | 744,816 | 841,112 | |||||||
Total liabilities and stockholders' equity | $ | 2,332,081 | $ | 2,382,965 |
FireEye, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in thousands, except per share amounts) |
||||||||||||||||||
Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||||
Revenue: | ||||||||||||||||||
Product | $ | 38,278 | $ | 33,586 | $ | 123,696 | $ | 151,926 | ||||||||||
Subscription and services | 163,995 | 151,110 | 627,390 | 562,188 | ||||||||||||||
Total revenue | 202,273 | 184,696 | 751,086 | 714,114 | ||||||||||||||
Cost of revenue: (1)(2) | ||||||||||||||||||
Product | 15,465 | 15,391 | 56,807 | 65,158 | ||||||||||||||
Subscription and services | 53,907 | 48,567 | 212,080 | 206,710 | ||||||||||||||
Total cost of revenue | 69,372 | 63,958 | 268,887 | 271,868 | ||||||||||||||
Total gross profit | 132,901 | 120,738 | 482,199 | 442,246 | ||||||||||||||
Operating expenses: (1)(2) | ||||||||||||||||||
Research and development | 59,858 | 54,574 | 243,273 | 279,594 | ||||||||||||||
Sales and marketing | 98,524 | 84,310 | 371,935 | 439,499 | ||||||||||||||
General and administrative (3)(4)(5) | 40,306 | 30,914 | 125,597 | 139,839 | ||||||||||||||
Restructuring charges (6) | — | — | — | 27,630 | ||||||||||||||
Total operating expenses | 198,688 | 169,798 | 740,805 | 886,562 | ||||||||||||||
Operating loss | (65,787 | ) | (49,060 | ) | (258,606 | ) | (444,316 | ) | ||||||||||
Other expense, net (7) | (9,992 | ) | (12,733 | ) | (40,453 | ) | (44,534 | ) | ||||||||||
Loss before income taxes | (75,779 | ) | (61,793 | ) | (299,059 | ) | (488,850 | ) | ||||||||||
Provision for (benefit from) income taxes (8) | 1,247 | (257 | ) | 4,632 | (8,721 | ) | ||||||||||||
Net loss attributable to common stockholders | $ | (77,026 | ) | $ | (61,536 | ) | $ | (303,691 | ) | $ | (480,129 | ) | ||||||
Net loss per share attributable to common stockholders, basic and diluted | $ | (0.42 | ) | $ | (0.37 | ) | $ | (1.71 | ) | $ | (2.94 | ) | ||||||
Weighted average shares used in per share calculations, basic and diluted | 182,281 | 167,228 | 177,757 | 163,211 |
FireEye, Inc. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (Unaudited, in thousands) |
||||||||||
Year Ended December 31, | ||||||||||
2017 | 2016 | |||||||||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||||||||
Net loss | $ | (303,691 | ) | $ | (480,129 | ) | ||||
Adjustments to reconcile net loss to net cash used in operating activities: | ||||||||||
Depreciation and amortization | 103,417 | 119,267 | ||||||||
Stock-based compensation | 166,336 | 199,066 | ||||||||
Non-cash interest expense related to convertible senior notes | 37,598 | 35,782 | ||||||||
Change in fair value of contingent earn-out liability | (54 | ) | 2,356 | |||||||
Deferred income taxes | (1,287 | ) | (11,926 | ) | ||||||
Other | 7,217 | 9,836 | ||||||||
Changes in operating assets and liabilities, net of assets acquired and liabilities assumed in business acquisitions: | ||||||||||
Accounts receivable | (20,749 | ) | 61,785 | |||||||
Inventories | (3,333 | ) | 1,415 | |||||||
Prepaid expenses and other assets | (4,736 | ) | 9,344 | |||||||
Accounts payable | 6,040 | (19,093 | ) | |||||||
Accrued liabilities | (3,659 | ) | (11,154 | ) | ||||||
Accrued transaction costs of acquiree | — | (7,727 | ) | |||||||
Accrued compensation | 2,565 | (24,621 | ) | |||||||
Deferred revenue | 17,227 | 105,431 | ||||||||
Other long-term liabilities | 14,749 | (4,217 | ) | |||||||
Net cash provided by (used in) operating activities | 17,640 | (14,585 | ) | |||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||||||||
Purchases of property and equipment and demonstration units | (43,779 | ) | (36,314 | ) | ||||||
Purchases of short-term investments | (409,358 | ) | (507,073 | ) | ||||||
Proceeds from maturities of short-term investments | 397,483 | 554,358 | ||||||||
Proceeds from sales of short-term investments | 3,620 | 4,507 | ||||||||
Business acquisitions, net of cash acquired | (4,300 | ) | (204,926 | ) | ||||||
Purchase of investment in private company | (2,500 | ) | — | |||||||
Lease deposits | (489 | ) | (248 | ) | ||||||
Net cash used in investing activities | (59,323 | ) | (189,696 | ) | ||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||||||||
Repayment of debt of acquired business | — | (8,842 | ) | |||||||
Payments for contingent earn-outs | (38,928 | ) | (112 | ) | ||||||
Payment related to shares withheld for taxes | (1,408 | ) | (1,124 | ) | ||||||
Proceeds from employee stock purchase plan | 20,094 | 22,080 | ||||||||
Proceeds from exercise of equity awards | 19,149 | 13,844 | ||||||||
Net cash provided by (used in) financing activities | (1,093 | ) | 25,846 | |||||||
Net change in cash and cash equivalents | (42,776 | ) | (178,435 | ) | ||||||
Cash and cash equivalents, beginning of period | 223,667 | 402,102 | ||||||||
Cash and cash equivalents, end of period | $ | 180,891 | $ | 223,667 |
FireEye, Inc. RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
(Unaudited, in thousands, except per share amounts) |
||||||||||||||||||
Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||||
GAAP operating loss | $ | (65,787 | ) | $ | (49,060 | ) | $ | (258,606 | ) | $ | (444,316 | ) | ||||||
Stock-based compensation expense (1) | 40,842 | 30,949 | 166,336 | 197,751 | ||||||||||||||
Amortization of intangible assets (2) | 14,954 | 16,079 | 59,314 | 64,028 | ||||||||||||||
Legal settlement costs (5) | 12,500 | — | 12,500 | — | ||||||||||||||
Acquisition related expenses (3) | 440 | — | 440 | 2,413 | ||||||||||||||
Change in fair value of contingent earn-out liability (4) | — | 600 | (54 | ) | 2,356 | |||||||||||||
Restructuring charges (6) | — | — | — | 27,630 | ||||||||||||||
Non-GAAP operating income (loss) | $ | 2,949 | $ | (1,432 | ) | $ | (20,070 | ) | $ | (150,138 | ) | |||||||
GAAP gross margin | 66 | % | 65 | % | 64 | % | 62 | % | ||||||||||
Stock-based compensation expense (1) | 4 | % | 3 | % | 5 | % | 5 | % | ||||||||||
Amortization of intangible assets (2) | 5 | % | 6 | % | 5 | % | 6 | % | ||||||||||
Non-GAAP gross margin | 75 | % | 74 | % | 74 | % | 73 | % | ||||||||||
GAAP operating margin | (33 | )% | (27 | )% | (34 | )% | (62 | )% | ||||||||||
Stock-based compensation expense (1) | 21 | % | 17 | % | 21 | % | 28 | % | ||||||||||
Amortization of intangible assets (2) | 7 | % | 9 | % | 8 | % | 9 | % | ||||||||||
Legal settlement costs (5) | 6 | % | — | % | 2 | % | — | % | ||||||||||
Acquisition related expenses (3) | — | % | — | % | — | % | — | % | ||||||||||
Change in fair value of contingent earn-out liability (4) | — | % | — | % | — | % | — | % | ||||||||||
Restructuring charges (6) | — | % | — | % | — | % | 4 | % | ||||||||||
Non-GAAP operating margin | 1.0 | % | (1 | )% | (3 | )% | (21 | )% | ||||||||||
GAAP net loss | $ | (77,026 | ) | $ | (61,536 | ) | $ | (303,691 | ) | $ | (480,129 | ) | ||||||
Stock-based compensation expense (1) | 40,842 | 30,949 | 166,336 | 197,751 | ||||||||||||||
Amortization of intangible assets (2) | 14,954 | 16,079 | 59,314 | 64,028 | ||||||||||||||
Legal settlement costs (5) | 12,500 | — | 12,500 | — | ||||||||||||||
Acquisition related expenses (3) | 440 | — | 440 | 2,413 | ||||||||||||||
Change in fair value of contingent earn-out liability (4) | — | 600 | (54 | ) | 2,356 | |||||||||||||
Restructuring charges (6) | — | — | — | 27,630 | ||||||||||||||
Non-cash interest expense related to convertible senior notes (7) | 9,575 | 9,112 | 37,598 | 35,782 | ||||||||||||||
Adjustment to provision (benefit) from income taxes (8) | — | (20 | ) | — | (11,839 | ) | ||||||||||||
Non-GAAP net income (loss) | $ | 1,285 | $ | (4,816 | ) | $ | (27,557 | ) | $ | (162,008 | ) | |||||||
GAAP net loss per common share, basic and diluted | $ | (0.42 | ) | $ | (0.37 | ) | $ | (1.71 | ) | $ | (2.94 | ) | ||||||
Stock-based compensation expense (1) | 0.22 | 0.19 | 0.94 | 1.21 | ||||||||||||||
Amortization of intangible assets (2) | 0.08 | 0.10 | 0.33 | 0.39 | ||||||||||||||
Legal settlement costs (5) | 0.08 | — | 0.07 | — | ||||||||||||||
Acquisition related expenses (3) | — | — | — | 0.01 | ||||||||||||||
Change in fair value of contingent earn-out liability (4) | — | — | — | 0.02 | ||||||||||||||
Restructuring charges (6) | — | — | — | 0.17 | ||||||||||||||
Non-cash interest expense related to convertible senior notes (7) | 0.05 | 0.05 | 0.21 | 0.22 | ||||||||||||||
Adjustment to provision for (benefit from) income taxes (8) | — | — | — | (0.07 | ) | |||||||||||||
Non-GAAP net income (loss) per common share, basic | $ | 0.01 | $ | (0.03 | ) | $ | (0.16 | ) | $ | (0.99 | ) | |||||||
Non-GAAP net income (loss) per common share, diluted | $ | 0.01 | $ | (0.03 | ) | $ | (0.16 | ) | $ | (0.99 | ) | |||||||
Weighted average shares used in per share calculation for GAAP, basic and diluted | 182,281 | 167,228 | 177,757 | 163,211 | ||||||||||||||
Weighted average shares used in per share calculation for Non-GAAP, basic | 182,281 | 167,228 | 177,757 | 163,211 | ||||||||||||||
Weighted average shares used in per share calculation for Non-GAAP, diluted | 189,974 | 167,228 | 177,757 | 163,211 | ||||||||||||||
(1) Includes stock-based compensation expense as follows: | ||||||||||||||||||
Cost of product revenue | $ | 541 | $ | 295 | $ | 2,141 | $ | 2,092 | ||||||||||
Cost of subscription and services revenue | 8,378 | 4,798 | 30,515 | 29,811 | ||||||||||||||
Research and development expense | 13,738 | 9,878 | 56,720 | 64,755 | ||||||||||||||
Sales and marketing expense | 10,858 | 10,075 | 46,766 | 57,750 | ||||||||||||||
General and administrative expense | 7,327 | 5,903 | 30,194 | 43,343 | ||||||||||||||
Total stock-based compensation expense | $ | 40,842 | $ | 30,949 | $ | 166,336 | $ | 197,751 | ||||||||||
(2) Includes amortization of intangible assets as follows: | ||||||||||||||||||
Cost of product revenue | $ | 2,781 | $ | 3,064 | $ | 11,187 | $ | 12,256 | ||||||||||
Cost of subscription and services revenue | 7,375 | 8,406 | 29,500 | 33,176 | ||||||||||||||
Research and development expense | 257 | 162 | 744 | 618 | ||||||||||||||
Sales and marketing expense | 4,541 | 4,447 | 17,883 | 17,978 | ||||||||||||||
Total amortization of intangible assets | $ | 14,954 | $ | 16,079 | $ | 59,314 | $ | 64,028 | ||||||||||
(3) Includes acquisition related expenses as follows: | ||||||||||||||||||
General and administrative expense | $ | 440 | $ | — | $ | 440 | $ | 2,413 | ||||||||||
(4) Includes change in fair value of contingent earn-out liability as follows: | ||||||||||||||||||
General and administrative expense | $ | — | $ | 600 | $ | (54 | ) | $ | 2,356 | |||||||||
(5) Includes legal settlement costs as follows: | ||||||||||||||||||
General and administrative expense | $ | 12,500 | $ | — | $ | 12,500 | $ | — | ||||||||||
(6) Includes restructuring charges as follows: | ||||||||||||||||||
Restructuring charges | $ | — | $ | — | $ | — | $ | 27,630 | ||||||||||
(7) Includes non-cash interest expense related to convertible senior notes as follows: | ||||||||||||||||||
Other expense, net | $ | 9,575 | $ | 9,112 | $ | 37,598 | $ | 35,782 | ||||||||||
(8) Includes income tax effect of non-GAAP adjustments as follows: | ||||||||||||||||||
Provision for (benefit from) income taxes | $ | — | $ | (20 | ) | $ | — | $ | (11,839 | ) |
FireEye, Inc. RECONCILIATION OF NON-GAAP BILLINGS TO REVENUE (Unaudited, in thousands) |
|||||||||||||||||
Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||||
GAAP revenue | $ | 202,273 | $ | 184,696 | $ | 751,086 | $ | 714,114 | |||||||||
Add change in deferred revenue | 39,931 | 37,098 | 17,228 | 126,518 | |||||||||||||
Subtotal | 242,204 | 221,794 | 768,314 | 840,632 | |||||||||||||
Less iSIGHT & Invotas deferred revenue assumed | — | — | — | (21,087 | ) | ||||||||||||
Non-GAAP billings | $ | 242,204 | $ | 221,794 | $ | 768,314 | $ | 819,545 |
FireEye, Inc. BILLINGS BREAKOUT (Unaudited, in thousands) |
||||||||||||||||
Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Product billings | $ | 39,448 | $ | 33,489 | $ | 124,010 | $ | 153,946 | ||||||||
Product subscription billings | 116,978 | 113,588 | 361,403 | 386,037 | ||||||||||||
Support and maintenance billings | 44,518 | 38,500 | 133,862 | 143,964 | ||||||||||||
Professional services billings | 41,260 | 36,217 | 149,039 | 135,598 | ||||||||||||
Non-GAAP billings | $ | 242,204 | $ | 221,794 | $ | 768,314 | $ | 819,545 |
FireEye, Inc. REVENUE BREAKOUT (Unaudited, in thousands) |
||||||||||||||||
Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Product revenue | $ | 38,278 | $ | 33,586 | $ | 123,696 | $ | 151,926 | ||||||||
Product subscription revenue | 93,379 | 85,576 | 356,682 | 316,986 | ||||||||||||
Support and maintenance revenue | 36,660 | 33,170 | 139,758 | 123,341 | ||||||||||||
Professional services revenue | 33,956 | 32,364 | 130,950 | 121,861 | ||||||||||||
Total revenue | $ | 202,273 | $ | 184,696 | $ | 751,086 | $ | 714,114 |
View source version on businesswire.com: http://www.businesswire.com/news/home/20180208006395/en/
Source:
FireEye, Inc.
Media contact:
Dan
Wire, 415-895-2101
dan.wire@fireeye.com
or
Investor
contact:
Kate Patterson, 408-321-4957
kate.patterson@fireeye.com