Mimecast Announces Second Quarter 2018 Financial Results
(Thomson Reuters ONE) -
* Total revenue of $63.1 million grew 42% yoy on a GAAP basis and 41% in
constant currency
* Added 900 new customers. Total customers 28,200 globally
* Revenue retention rate of 111%
* Gross profit percentage of 74%
* GAAP EPS of $(0.02) per basic and diluted share, Non-GAAP EPS of $0.00 per
basic and diluted share
WATERTOWN, Mass., Nov. 08, 2017 (GLOBE NEWSWIRE) -- Mimecast
Limited (NASDAQ:MIME), a leading email and data security company, today
announced financial results for the second quarter ended September 30, 2017.
"In the second quarter, we expanded the organization into Germany to better
serve our customers in the region with local support teams and data residency in
2018," stated Peter Bauer, CEO of Mimecast.
Mimecast's CFO Peter Campbell noted, "Once again we delivered top and bottom
line results that exceed our guidance. Balancing growth and profitability, we
executed well on our business model."
Second Quarter 2018 Financial Highlights
* Revenue: GAAP revenue for the second quarter of 2018 was $63.1 million, an
increase of 42% compared to $44.4 million of GAAP revenue in the second
quarter of 2017. Revenue on a constant currency basis increased 41% compared
to the second quarter of 2017.
* Customers: Added 900 net new customers in the second quarter of 2018. We now
serve over 28,200 organizations globally.
* Revenue Retention Rate: Revenue retention rate was 111% in the second
quarter of 2018, consistent with the prior quarter and the second quarter of
2017.
* Gross Profit Percentage: Gross profit percentage was 74% in the second
quarter of 2018, up from 72% in the second quarter of 2017.
* GAAP Net Loss: GAAP net loss was $1.3 million, or $(0.02) per basic and
diluted share, based on 57.0 million weighted-average shares outstanding.
* Adjusted EBITDA: Adjusted EBITDA was $6.7 million, representing an Adjusted
EBITDA margin of 11% up from 6% in the second quarter of 2017.
* Non-GAAP Net Income: Non-GAAP net income was $0.1 million, or $0.00 per
share, based on 60.9 million diluted shares outstanding.
* Free Cash Flow and Cash: Mimecast generated $1.7 million of free cash flow
in the second quarter of 2018. Cash and investments as of September
30, 2017 were $123.1 million.
Reconciliations of the non-GAAP financial measures provided in this press
release to their most directly comparable GAAP financial measures are provided
in the financial tables included at the end of this press release. An
explanation of these measures and how they are calculated is also included below
under the heading "Non-GAAP Financial Measures."
Second Quarter 2018 Business Highlights
* Mimecast launched the industry leading Multipurpose Cloud Archive. Mimecast
Cloud Archive delivers an all-in-one cloud service that integrates: a secure
data repository, built-in data recovery, storage management, e-discovery and
compliance capabilities. Customers gain access to their email archive
anywhere, anytime, and on any device in record speed.
* Mimecast was named a Leader, with the Highest Ability to Execute in the
Gartner 2017 Enterprise Information Archiving Magic Quadrant.
* Mimecast announced the expansion of operations into Germany in 2018 with
local sales, customer support, and two data centers. Michael Heuer will
lead Mimecast's German team from our country headquarters in Munich.
Additional resources based in Dusseldorf and Frankfurt add support for the
region.
* Mimecast is pleased to announce Gerri Elliott had joined our Board of
Directors. She is known as an enterprise go-to-market expert in technology
companies given her three-decade executive history with Juniper, Microsoft
and IBM. Gerri is the founder of Broadrooms.com, a website focused on
executive women who serve or want to serve on corporate boards. In addition
to Mimecast, Gerri currently serves as an independent director on the boards
of: Whirlpool, Marvell Technologies and Imperva.
* Mimecast has achieved attestation to the SOC 2 Type II standard. The
successful completion of this voluntary attestation demonstrates Mimecast's
continuous dedication to maintaining stringent and effective operating
controls for the security and availability of its customers' data stored in
Mimecast facilities.
* Sales of Targeted Threat Protection increased during the second quarter.
More than 13,300 customers now use the service.
Business Outlook
Mimecast is providing guidance for the third quarter and fiscal year 2018.
Third Quarter 2018 Guidance:
For the Third quarter of 2018, constant currency revenue growth is expected
to be in the range of 31% to 32% and revenue is expected to be in the range
of $64.3 million to $65.0 million. Our guidance is based on exchange rates
as of October 31, 2017 and includes a positive impact of $1.3 million
related to the weakening of the US dollar compared to the prior year.
Adjusted EBITDA for the third quarter is expected to be in the range of
$5.8 million to $6.8 million.
Full Year 2018 Guidance:
For the full year 2018, revenue is expected to be the range of $251.8
million to $254.5 million or 34% to 36% growth in constant currency.
Foreign exchange rate fluctuations are positively impacting this guidance by
an estimated $1.4 million related to the weakening of the US dollar with
respect to the pound. Relative to the prior annual guidance we gave in
August, foreign exchange rate fluctuations are negatively impacting this
guidance by an estimated $1.5m. Our expected growth rate considers the
McAfee end of life which resulted in high linearity of sales in the third
quarter and second half of last year resulting in tougher compares in the
second half of this year. Adjusted EBITDA is expected to be in the range of
$21.9 million to $23.9 million.
GAAP net (loss) income is the most comparable GAAP measure to Adjusted EBITDA.
Adjusted EBITDA differs from GAAP net (loss) income in that it excludes
depreciation and amortization, share-based compensation expense, interest income
and interest expense, the provision for (benefit from) income taxes and foreign
exchange (expense) income. Mimecast is unable to predict with reasonable
certainty the ultimate outcome of these exclusions without unreasonable effort.
Therefore, Mimecast has not provided guidance for GAAP net (loss) income or a
reconciliation of forward-looking Adjusted EBITDA guidance to GAAP net (loss)
income.
Conference Call and Webcast Information
Mimecast will host a conference call to discuss these financial results for
investors and analysts at 4:30 pm EST (UTC-05:00) on November 8, 2017. To
access the conference call, dial (844) 815-2878 for the U.S. and Canada and
(615) 800-6885 for international callers and enter conference ID# 1077906. The
call will also be webcast live on the investor relations section of the
Company's website http://investors.mimecast.com. An audio replay of the call
will be available two hours after the live call ends by dialing (855) 859-2056
for U.S. and Canada or (404) 537-3406 for international callers, and entering
passcode ID# 1077906. In addition, an archive of the webcast will be available
on the investor relations section of the company's
website http://investors.mimecast.com.
About Mimecast Limited
Mimecast Limited (NASDAQ:MIME) makes business email and data safer for more than
28,200 customers and millions of employees worldwide. Founded in 2003, the
Company's next-generation cloud-based security, archiving and continuity
services protect email, and deliver comprehensive email risk management in a
single, fully-integrated subscription service. Mimecast reduces email risk and
the complexity and cost of managing the array of point solutions traditionally
used to protect email and its data. For customers that have migrated to cloud
services like Microsoft® Office 365(TM), Mimecast mitigates single vendor
exposure by strengthening security coverage, combating downtime and improving
archiving.
Mimecast and the Mimecast logo are registered trademarks of Mimecast. All other
third-party marks and logos contained in this press release are the property of
their respective owners.
Safe Harbor for Forward-Looking Statements
Statements in this press release regarding management's future expectations,
beliefs, intentions, goals, strategies, plans or prospects, including, without
limitation, the statements relating to Mimecast's office in Germany, and
Mimecast's future financial performance on both a GAAP and non-GAAP basis under
the heading "Business Outlook" above, may constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995 and
other federal securities laws. All statements, other than statements of
historical fact, are statements that could be deemed forward-looking statements,
including statements containing the words "predicts," "plan," "expects,"
"anticipates," "believes," "goal," "target," "estimate," "potential," "may,"
"might," "could," "see," "seek," "forecast," and similar words. Mimecast intends
all such forward-looking statements to be covered by the safe harbor provisions
for forward-looking statements contained in Section 21E of the Exchange Act and
the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
including those risks, uncertainties and factors detailed in Mimecast's filings
with the Securities and Exchange Commission. As a result of such risks,
uncertainties and factors, Mimecast's actual results may differ materially from
any future results, performance or achievements discussed in or implied by the
forward-looking statements contained herein. Mimecast is providing the
information in this press release as of this date and assumes no obligations to
update the information included in this press release or revise any forward-
looking statements, whether as a result of new information, future events or
otherwise.
Non-GAAP Financial Measures
We have provided in this release financial information that has not been
prepared in accordance with GAAP. We use these non-GAAP financial measures
internally in analyzing our financial results and believe they are useful to
investors, as a supplement to GAAP measures, in evaluating our ongoing
operational performance. We believe that the use of these non-GAAP financial
measures provides an additional tool for investors to use in evaluating ongoing
operating results and trends and in comparing our financial results with other
companies in our industry, many of which present similar non-GAAP financial
measures to investors.
Non-GAAP financial measures should not be considered in isolation from, or as a
substitute for, financial information prepared in accordance with
GAAP. Investors are encouraged to review the reconciliation of these non-GAAP
financial measures to their most directly comparable GAAP financial measures
provided in the financial statement tables included below in this press release.
Revenue Constant Currency Growth Rate. We believe revenue constant currency
growth rate is a key indicator of our operating results. We calculate revenue
constant currency growth rate by translating revenue from entities reporting in
foreign currencies into U.S. dollars using the comparable foreign currency
exchange rates from the prior fiscal period. To determine projected revenue
growth rates on a constant currency basis for the third quarter and full year
2018, expected revenue from entities reporting in foreign currencies will be
translated into U.S. dollars using the comparable prior year period's monthly
average foreign currency exchange rates.
Adjusted EBITDA and Adjusted EBITDA margin. We believe that Adjusted EBITDA and
Adjusted EBITDA margin are key indicators of our operating results. We define
Adjusted EBITDA as net (loss) income, adjusted to exclude: depreciation and
amortization, share-based compensation expense, interest income and interest
expense, the provision for (benefit from) income taxes and foreign exchange
(expense) income predominantly related to the elimination of intercompany
balances. We define Adjusted EBITDA margin as Adjusted EBITDA over revenue in
the period.
Non-GAAP net income. We define non-GAAP net income as net (loss) income less
share-based compensation expense and the related income tax effects of excluding
share-based compensation expense. We consider this non-GAAP financial measure to
be a useful metric for management and investors because it excludes the effect
of share-based compensation expense and related income tax effects so that our
management and investors can compare our recurring core business net results
over multiple periods. There are a number of limitations related to the use of
non-GAAP net income versus net (loss) income calculated in accordance with GAAP.
For example, as noted above, non-GAAP net income excludes share-based
compensation expense and related income tax effects. In addition, the components
of the costs that we exclude in our calculation of non-GAAP net income may
differ from the components that our peer companies exclude when they report
their non-GAAP results of operations. Management compensates for these
limitations by providing specific information regarding the GAAP amounts
excluded from non-GAAP net income and evaluating non-GAAP net income together
with net (loss) income calculated in accordance with GAAP.
Free cash flow. We define free cash flow as net cash provided by operating
activities minus capital expenditures. We consider free cash flow to be a
liquidity measure that provides useful information to management and investors
about the amount of cash generated by the business that, after the acquisition
of property and equipment, can be used for strategic opportunities, including
investing in our business, and strengthening the balance sheet. Analysis of free
cash flow facilitates management's comparisons of our operating results to
competitors' operating results. A limitation of using free cash flow versus the
GAAP measure of net cash provided by operating activities as a means for
evaluating our company is that free cash flow does not represent the total
increase or decrease in the cash balance from operations for the period because
it excludes cash used for capital expenditures during the period. Management
compensates for this limitation by providing information about our capital
expenditures on the face of the cash flow statement and in the liquidity and
capital resources discussion included in our annual and quarterly reports filed
with the Securities and Exchange Commission.
MIMECAST LIMITED
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share amounts)
(unaudited)
Three months ended Six months ended
September 30, September 30,
------------------------ --------------------------
2017 2016 2017 2016
---------- ----------- ----------- ----------
Revenue $ 63,066 $ 44,361 $ 121,224 $ 85,821
Cost of revenue 16,543 12,377 31,795 23,716
---------- ----------- ----------- ----------
Gross profit 46,523 31,984 89,429 62,105
---------- ----------- ----------- ----------
Operating expenses
Research and development 8,262 4,948 16,183 10,097
Sales and marketing 30,155 22,866 57,714 44,329
General and
administrative 8,614 6,597 17,151 13,053
---------- ------------- ----------- ------------
Total operating expenses 47,031 34,411 91,048 67,479
---------- ------------- ----------- ------------
Loss from operations (508 ) (2,427 ) (1,619 ) (5,374 )
Other income (expense)
Interest income 314 76 553 143
Interest expense (69 ) (76 ) (100 ) (183 )
Foreign exchange
(expense) income (655 ) 2,719 (1,195 ) 6,815
---------- ------------- ----------- ------------
Total other income
(expense), net (410 ) 2,719 (742 ) 6,775
---------- ------------- ----------- ------------
(Loss) income before
income taxes (918 ) 292 (2,361 ) 1,401
Provision for (benefit
from) income taxes 421 (11 ) 878 854
---------- ------------- ----------- ------------
Net (loss) income $ (1,339 ) $ 303 $ (3,239 ) $ 547
---------- ------------- ----------- ------------
Net (loss) income per
ordinary share:
Basic $ (0.02 ) $ 0.01 $ (0.06 ) $ 0.01
Diluted $ (0.02 ) $ 0.01 $ (0.06 ) $ 0.01
Weighted-average number
of ordinary shares
outstanding:
Basic 57,027 54,636 56,662 54,462
Diluted 57,027 58,513 56,662 58,022
MIMECAST LIMITED
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)
(unaudited)
As of September As of March
30, 31,
2017 2017
------------------- ---------------
Assets
Current assets
Cash and cash equivalents $ 76,928 $ 51,319
Short-term investments 42,681 60,347
Accounts receivable, net 45,886 44,358
Prepaid expenses and other current
assets 14,278 10,054
------------------- ---------------
Total current assets 179,773 166,078
Long-term investments 3,494 -
Property and equipment, net 69,663 32,009
Intangible assets, net 4,123 1,590
Goodwill 5,379 5,363
Other assets 1,114 312
------------------- ---------------
Total assets $ 263,546 $ 205,352
------------------- ---------------
Liabilities and shareholders' equity
Current liabilities
Accounts payable $ 6,594 $ 3,558
Accrued expenses and other current
liabilities 26,181 20,713
Deferred revenue 91,915 84,159
Current portion of capital lease
obligations 1,172 233
Current portion of long-term debt 741 1,725
------------------- ---------------
Total current liabilities 126,603 110,388
Deferred revenue, net of current
portion 14,292 11,189
Long-term capital lease obligations 3,006 245
Construction financing lease
obligation 26,110 -
Other non-current liabilities 2,792 1,538
------------------- ---------------
Total liabilities 172,803 123,360
Commitments and contingencies
Shareholders' equity
Ordinary shares, $0.012 par value,
300,000,000 shares authorized;
57,319,319
and 55,901,996 shares issued and
outstanding as of September 30, 2017
and March 31, 2017, respectively 688 671
Additional paid-in capital 196,062 183,752
Accumulated deficit (97,360 ) (94,017 )
Accumulated other comprehensive loss (8,647 ) (8,414 )
------------------- ---------------
Total shareholders' equity 90,743 81,992
------------------- ---------------
Total liabilities and
shareholders' equity $ 263,546 $ 205,352
------------------- ---------------
MIMECAST LIMITED
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Three months ended Six months ended
September 30, September 30,
------------------------ -------------------------
2017 2016 2017 2016
---------- ----------- ----------- -----------
Operating activities
Net (loss) income $ (1,339 ) $ 303 $ (3,239 ) $ 547
Adjustments to
reconcile net (loss)
income to net cash
provided by operating
activities:
Depreciation and
amortization 4,250 2,897 7,859 5,661
Share-based
compensation expense 2,910 2,265 5,556 4,308
Provision for doubtful
accounts 82 30 112 50
Loss on disposal of
fixed assets - (7 ) - (5 )
Other non-cash items 80 11 164 36
Excess tax benefits
related to exercise of
share options - 466 - -
Unrealized currency
loss (gain) on foreign
denominated
transactions 415 (2,490 ) 798 (6,307 )
Changes in assets and
liabilities:
Accounts receivable (4,830 ) (1,346 ) (431 ) 782
Prepaid expenses and
other current assets (2,210 ) (159 ) (1,774 ) 1,337
Other assets 39 (39 ) 33 (39 )
Accounts payable 217 436 1,493 2,429
Deferred revenue 5,201 3,301 7,445 5,751
Accrued expenses and
other liabilities 2,519 1,813 956 2,238
---------- ----------- ----------- -----------
Net cash provided by
operating activities 7,334 7,481 18,972 16,788
Investing activities
Purchases of
investments (8,990 ) - (24,521 ) -
Maturities of
investments 23,000 - 38,500 -
Purchases of property,
equipment and
capitalized software (5,673 ) (4,143 ) (13,403 ) (9,729 )
---------- ----------- ----------- -----------
Net cash provided by
(used in) investing
activities 8,337 (4,143 ) 576 (9,729 )
Financing activities
Proceeds from exercises
of share options 2,991 547 6,436 1,561
Excess tax benefits
related to exercise of
share options - (466 ) - -
Payments on debt (545 ) (1,197 ) (1,078 ) (2,490 )
Payments on capital
lease obligations (189 ) - (189 ) -
---------- ----------- ----------- -----------
Net cash provided by
(used in) financing
activities 2,257 (1,116 ) 5,169 (929 )
Effect of foreign
exchange rates on cash 11 (379 ) 892 (1,769 )
---------- ----------- ----------- -----------
Net increase in cash
and cash equivalents 17,939 1,843 25,609 4,361
Cash and cash
equivalents at
beginning of period 58,989 108,658 51,319 106,140
---------- ----------- ----------- -----------
Cash and cash
equivalents at end of
period $ 76,928 $ 110,501 $ 76,928 $ 110,501
---------- ----------- ----------- -----------
Key Performance Indicators
In addition to traditional financial metrics, such as revenue and revenue growth
trends, we monitor several other non-GAAP financial measures and non-financial
metrics to help us evaluate growth trends, establish budgets, measure the
effectiveness of our sales and marketing efforts and assess operational
efficiencies. The key performance indicators that we monitor are as follows:
Three months ended Six months ended
September 30, September 30,
------------------------ -----------------------
2017 2016 2017 2016
---------- ----------- ---------- ----------
(dollars in
(dollars in thousands) thousands)
Gross profit percentage 74 % 72 % 74 % 72 %
Revenue constant currency
growth rate (1) 41 % 38 % 42 % 35 %
Revenue retention rate
(2) 111 % 111 % 111 % 111 %
Total customers (3) 28,200 21,800 28,200 21,800
Adjusted EBITDA (1) $ 6,652 $ 2,735 $ 11,796 $ 4,595
---------------------------
(1) Adjusted EBITDA and revenue constant currency growth rates are non-GAAP
measures. For a reconciliation of Adjusted EBITDA and revenue constant currency
growth rates to the nearest comparable GAAP measures, see "Reconciliation of
Non-GAAP Financial Measures" below.
(2) We calculate our revenue retention rate by annualizing constant currency
revenue recorded on the last day of the measurement period for only those
customers in place throughout the entire measurement period. We include add-on,
or upsell, revenue from additional employees and services purchased by existing
customers. We divide the result by revenue on a constant currency basis on the
first day of the measurement period for all customers in place at the beginning
of the measurement period. The measurement period is the trailing twelve months.
The revenue on a constant currency basis is based on the average exchange rates
in effect during the respective period.
(3) Reflects the customer count on the last day of the period rounded to the
nearest hundred customers. We define a customer as an entity with an active
subscription contract as of the measurement date. A customer is typically a
parent company or, in a few cases, a significant subsidiary that works with us
directly.
Reconciliation of Non-GAAP Financial Measures
The following table presents a reconciliation of revenue growth rate, as
reported to revenue constant currency growth rate:
Three months ended Six months ended September
September 30, 30,
------------------------ ----------- ------------
2017 2016 2017 2016
---------- ----------- ----------- ----------
(dollars in thousands)
Reconciliation of
Revenue Constant
Currency Growth Rate:
Revenue, as reported $ 63,066 $ 44,361 $ 121,224 $ 85,821
Revenue year-over-year
growth rate, as
reported 42 % 29 % 41 % 27 %
Estimated impact of
foreign currency
fluctuations (1) % 9 % 1 % 8 %
Revenue constant
currency growth rate 41 % 38 % 42 % 35 %
The following table presents a reconciliation of Net (loss) income to Adjusted
EBITDA:
Three months ended Six months ended
September 30, September 30,
------------------------ -----------------------
2017 2016 2017 2016
---------- ----------- ---------- ----------
(in thousands) (in thousands)
Reconciliation of
Adjusted EBITDA:
Net (loss) income $ (1,339 ) $ 303 $ (3,239 ) $ 547
Depreciation and
amortization 4,250 2,897 7,859 5,661
Interest (income)
expense, net (245 ) - (453 ) 40
Provision for (benefit
from) income taxes 421 (11 ) 878 854
Share-based compensation
expense 2,910 2,265 5,556 4,308
Foreign exchange expense
(income) 655 (2,719 ) 1,195 (6,815 )
---------- ----------- ---------- ----------
Adjusted EBITDA $ 6,652 $ 2,735 $ 11,796 $ 4,595
---------- ----------- ---------- ----------
The following table presents a reconciliation of Net (loss) income to Non-GAAP
net income (in thousands, except per share amounts):
Three months ended Six months ended
September 30, September 30,
------------------------ -----------------------
2017 2016 2017 2016
---------- ----------- ---------- ----------
Reconciliation of Non-
GAAP Net Income:
Net (loss) income $ (1,339 ) $ 303 $ (3,239 ) $ 547
Share-based compensation
expense 2,910 2,265 5,556 4,308
Provision for income
taxes (1) (1,473 ) (19 ) (1,807 ) (41 )
---------- ----------- ---------- ----------
Non-GAAP net income (1) $ 98 $ 2,549 $ 510 $ 4,814
---------- ----------- ---------- ----------
Non-GAAP net income per
ordinary share - basic 0.00 0.05 0.01 0.09
---------- ----------- ---------- ----------
Non-GAAP net income per
ordinary share - diluted 0.00 0.04 0.01 0.08
---------- ----------- ---------- ----------
Weighted-average number
of ordinary shares used
in
computing Non-GAAP net
income per ordinary
share:
Basic 57,027 54,636 56,662 54,462
Diluted 60,938 58,513 60,793 58,022
---------------------------
(1) Non-GAAP net income excludes the impact of excess tax benefits resulting
from share option exercises which were recorded on a GAAP basis. Without the
availability of excess tax benefits on a non-GAAP basis, our non-GAAP US tax
provision utilizes net operating loss carryforwards to offset current year
taxable income. We have not yet completed a full assessment of potential Section
382 limitations and the finalization of a study may result in an adjustment to
or limitation on the amount of net operating loss carryforwards we use.
The following table presents a reconciliation of Net cash provided by operating
activities to Free Cash Flow (in thousands):
Three months ended Six months ended
September 30, September 30,
------------------------ ------------------------
2017 2016 2017 2016
---------- ----------- ----------- ----------
Reconciliation of Free
Cash Flow:
Net cash provided by
operating activities $ 7,334 $ 7,481 $ 18,972 $ 16,788
Purchases of property,
equipment and
capitalized software (5,673 ) (4,143 ) (13,403 ) (9,729 )
---------- ----------- ----------- ----------
Free Cash Flow $ 1,661 $ 3,338 $ 5,569 $ 7,059
---------- ----------- ----------- ----------
Share-based compensation expense for the three and six months ended September
30, 2017 and 2016 (in thousands):
Three months ended Six months ended
September 30, September 30,
------------------------ ----------------------
2017 2016 2017 2016
--------- ------------ --------- ----------
Cost of revenue $ 236 $ 301 $ 442 $ 471
Research and development 601 361 1,283 733
Sales and marketing 1,122 1,133 2,070 2,106
General and administrative 951 470 1,761 998
--------- ------------ --------- ----------
Total share-based
compensation expense $ 2,910 $ 2,265 $ 5,556 $ 4,308
--------- ------------ --------- ----------
Revenue Constant Currency Growth Rate reconciliation (dollars in millions):
Three months ended September
30, Six months ended September 30,
-------------------------------- --------------------------------
% %
2017 2016 Change 2017 2016 Change
--------- --------- -------- --------- --------- --------
Total
revenue as
reported $ 63.1 $ 44.4 42 % $ 121.2 $ 85.8 41 %
Estimated
impact of
foreign
currency
fluctuations (1) % 1 %
Total
revenue
constant
currency
growth rate 41 % 42 %
Exchange
rate for
period
USD 1.000 1.000 1.000 1.000
GBP 1.309 1.314 1.294 1.374
ZAR 0.076 0.071 0.076 0.069
AUD 0.789 0.758 0.77 0.752
Mimecast Social Media Resources
- LinkedIn: Mimecast
- Facebook: Mimecast
- Twitter: (at)Mimecast
- Blog: Challenging Complexity
Press Contact
Alison Raymond Walsh
Press(at)Mimecast.com
617-393-7126
Investor Contact
Robert Sanders
Investors(at)Mimecast.com
617-393-7074
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Mimecast Limited via GlobeNewswire
Datum: 08.11.2017 - 22:10 Uhr
Sprache: Deutsch
News-ID 567326
Anzahl Zeichen: 42266
contact information:
Town:
London
Kategorie:
Business News
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