Everbridge releases first quarter 2019 financial results
- Details
- Published: Wednesday, 08 May 2019 08:32
Everbridge, Inc., has announced its financial results for the first quarter ended March 31st, 2019. Total revenue was $42.8 million, an increase of 40 percent compared to $30.5 million for the first quarter of 2018.
“We delivered a strong start to 2019 with results that were above our guidance ranges for both revenue and profitability, and generating 40 percent revenue growth,” said Jaime Ellertson, Chief Executive Officer and Chairman of Everbridge. “In the first quarter we saw continued momentum and expansion with our most strategic product suite – Critical Event Management – as well as significant wins across all our key solutions and geographies. We believe that with our industry-leading solutions to protect people and assets across organizations – from companies to entire countries – we are well-positioned to continue delivering strong growth as we further penetrate this multi-billion dollar market.”
Other highlights from the results included:
- GAAP operating loss was $13.3 million, compared to a GAAP operating loss of $10.9 million for the first quarter of 2018.
- Non-GAAP operating loss was $3.9 million, compared to non-GAAP operating loss of $3.4 million for the first quarter of 2018. Non-GAAP operating loss/income excludes stock-based compensation and amortization of intangible assets related to acquisitions.
- GAAP net loss was $14.1 million, compared to $12.3 million for the first quarter of 2018. GAAP net loss per share was $0.44, based on 32.3 million basic and diluted weighted average common shares outstanding, compared to $0.4) for the first quarter of 2018, based on 28.4 million basic and diluted weighted average common shares outstanding.
- Non-GAAP net loss was $4.7 million, compared to $4.8 million in the first quarter of 2018. Non-GAAP net loss per share was $0.15, based on 32.3 million basic and diluted weighted average common shares outstanding, compared to $0.17 for the first quarter of 2018, based on 28.4 million basic and diluted weighted average common shares outstanding. Non-GAAP net loss excludes stock-based compensation and amortization of intangible assets related to acquisitions.
- Adjusted EBITDA was a loss of $1.9 million, compared to a loss of $1.8 million in the first quarter of 2018. Adjusted EBITDA represents net loss before interest income and interest expense, income tax expense and benefit, depreciation and amortization expense and stock-based compensation expense.
- Cash flow from operations was an inflow of $8.7 million compared to an inflow of $7.5 million for the first quarter of 2018.
- Free cash flow was an inflow of $3.9 million compared to an inflow of $5.3 million for the first quarter of 2018. Free cash flow is cash flow from operations, less cash used for capital expenditures and additions to capitalized software development costs.
