SECURITY
SECURITY
SECURITY
Carbon Black pulls another successful quarter out of the bag
Cybersecurity firm Carbon Black Inc. is riding high today after once again beating expectations on revenue.
The company, which has beaten expectations on each of its earnings calls since going public last year, reported a first-quarter loss before certain costs such as stock compensation of 22 cents per share, in-line with estimates. Revenue came to $58.6 million, ahead of Wall Street’s $57.1 million estimate.
Net loss for the period came to $19.7 million
Carbon Black’s cybersecurity products are centered around its predictive security cloud, which gathers unfiltered information from endpoint devices such as personal computers and smartphones. This information is analyzed in the cloud in order to spot potential security breaches and similar problems.
Patrick Morley, president and chief executive officer of Carbon Black, said the company was seeing lots of interest in its latest products, including CB ThreatHunter, which was released in October and proactively hunt threats, uncovers suspicious behavior, disrupts active attacks and repairs any damage. CB LiveOps is a tool for investigating cyberattacks that involve endpoints such as employee desktops.
“We were very pleased with the initial market interest in our two newest PSC solutions, CB ThreatHunter and CB LiveOps,” Morley said. “These products provide customers with capabilities that we believe no other cloud EPP provider can match.”
Carbon Black’s stock rose by more than 7% in after-hours trading.
The positive reception of its latest tools gives Carbon Black reason to believe it will continue to be successful going forward, and its latest guidance reflects that mood. For the second quarter, the company said it’s expecting a loss of between 16 to 18 cents per share on revenue of $59 million to $60 million. Analysts had forecast a loss of 17 cents on revenue of $58.34 million.
For the full year, Carbon Black is expecting losses to hit 60 to 63 cents on revenue of $241 million to $243 million. Wall Street’s current full-year forecast has Carbon Black down for a 63-cent loss on revenue of $242.68 million.
Image: Carbon Black
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