Cyren Announces First Quarter 2019 Financial Results

GAAP loss per basic and diluted share for the first quarter of 2019 was $0.08, compared to a loss of $0.10 per basic and diluted share for the first quarter of 2018.

Non-GAAP net loss for the first quarter of 2019 was $4.4 million, compared to a Non-GAAP net loss of $4.8 million for the first quarter of 2018.

Non-GAAP loss per basic and diluted share was $0.08 for the first quarter of 2019, compared to a Non-GAAP loss of $0.09 per share in first quarter of 2018.

Operating cash flow during the first quarter of 2019 was negative $1.3 million, compared to operating cash flow of negative $4.2 million during the first quarter of 2018.

Net cash flow for the first quarter of 2019 was negative $5.1 million, compared to negative $5.7 million during the first quarter of 2018.

Cash balance as of March 31, 2019 was $12.4 million, compared to $17.6 million as of December 31, 2018.

For information regarding the non-GAAP financial measures discussed in this release, please see "Use of Non-GAAP Financial Measures" and "Reconciliation of Selected GAAP Measures to Non-GAAP Measures."

Recent Business Highlights:

• In April, Cyren announced the appointment of Brett Jackson as the company's new Chief Executive Officer. Mr. Jackson is an experienced, growth-oriented CEO and has led and scaled multiple companies in the security and analytics markets. He was unanimously approved by Cyren's board of directors.
• Cyren was recently honored in the Cybersecurity Excellence Awards, with its cloud-based Cyren Email Security winning a first-place gold award in the email security category against six other finalists. This is the third year in a row that Cyren products have been recognized in the Cybersecurity Excellence Awards.
• In January, Cyren announced a partnership with Microsoft to integrate its web security technology directly into Windows Defender Advanced Threat Protection (ATP). The offering is initially being launched in a private preview with a select set of enterprise customers during the second quarter of 2019, with the goal of reaching general availability for all Windows Defender ATP customers later in the year.

Financial Results Conference Call:

The company will host a conference call at 10 a.m. Eastern Time (5 p.m. Israel Time) on Wednesday, May 15, 2019 to discuss first quarter results.

The call will be simultaneously webcast live on the investor relations section of Cyren's website at https://ir.cyren.com, or by using the following link: https://webcasts.eqs.com/cyren20190515.

For those unable to participate in the live conference call, a replay will be available until May 29, 2019. To access the replay, the U.S. dial in number is 1-877-660-6853 and the non-U.S. dial in number is 1-201-612-7415. Callers will be prompted for replay conference ID number 13690390. An archived version of the webcast will also be available on the investor relations section of the company's website at https://ir.cyren.com/events.

About Cyren:

More than 1.3 billion users around the world rely on Cyren's 100% cloud security solutions to protect them against cyber attacks and data loss every day. Powered by the world's largest security cloud, Cyren (NASDAQ: CYRN) delivers fast time-to-protection with award-winning email security, cloud sandboxing and DNS filtering services for business, and threat intelligence solutions for service providers and security vendors like Microsoft, Google and Check Point. Learn more at www.cyren.com.

Blog: http://blog.cyren.com
Facebook: www.facebook.com/CyrenWeb
LinkedIn: www.linkedin.com/company/cyren
Twitter: www.twitter.com/CyrenInc

Use of Non-GAAP Financial Measures:

Non-GAAP financial measures consist of GAAP financial measures adjusted to exclude: stock-based compensation expenses, amortization of acquired intangible assets, and deferred taxes related to acquisitions, adjustments to earn-out obligations, and capitalization of technology. The purpose of such adjustments is to give an indication of the company's performance exclusive of non-cash charges and other items that are considered by management to be outside of the company's core operating results. The company's non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with the company's consolidated financial statements prepared in accordance with GAAP.

Company management regularly uses supplemental non-GAAP financial measures internally to understand, manage and evaluate the business and make operating decisions.

These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. The company believes this adjustment is useful to investors as a measure of the ongoing performance of the business. The company believes these non-GAAP financial measures provide consistent and comparable measures to help investors understand the company's current and future operating cash flow performance. These non-GAAP financial measures may differ materially from the non-GAAP financial measures used by other companies. Reconciliation between results on a GAAP and non-GAAP basis is provided in a table immediately following the Consolidated Statements of Income. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when evaluating the business internally and therefore felt it important to make these non-GAAP adjustments available to investors.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. For example, statements in the future tense, and statements including words such as "expect," "plan," "estimate," "anticipate," or "believe" are forward-looking statements. These statements are based on information available at the time of the press release and the company assumes no obligation to update any of them. The statements in this press release are not guarantees of future performance and actual results could differ materially from current expectations as a result of numerous factors, including our CEO transition, business conditions and growth or deterioration in the internet security market, technological developments, products offered by competitors, availability of qualified staff, and technological difficulties and resource constraints encountered in developing new products, as well as those risks described in the company's publicly filed reports, which are available through www.sec.gov.

Company Contact
Mike Myshrall, CFO
Cyren
+1.703.760.3320
mike.myshrall@cyren.com

Media Contact 
Matthew Zintel
Zintel Public Relations
+1.281.444.1590
matthew.zintel@zintelpr.com 

CYREN LTD.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands of U.S. dollars, except per share amounts)
	Three months ended
	March 31
	2019		2018
	Unaudited		Unaudited
Revenues	$               9,655		$            7,636
Cost of revenues	4,000		3,382
Gross profit	5,655		4,254
Operating expenses:
Research and development, net	4,177		3,355
Sales and marketing	3,856		4,145
General and administrative	2,432		2,038
Total operating expenses	10,465		9,538
Operating loss	(4,810)		(5,284)
Other income (expense), net	248		(2)
Financial expense, net	(53)		4
Loss before taxes	(4,615)		(5,282)
Tax benefit	39		46
Net loss	$              (4,576)		$          (5,236)
Loss per share - basic	$                (0.08)		$             (0.10)
Loss per share - diluted	$                (0.08)		$             (0.10)
Weighted average number of shares outstanding:
Basic	54,177		53,381
Diluted	54,177		53,381 Werbung Mehr Nachrichten zur Cyren Ltd Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 14.12.24 - wallstreetONLINE ... Roboter-Revolution: Megatrend: Dieser Wachstumsmarkt könnte bis 2034 um 294% wachsen! 14.12.24 - Börse-Global Thyssenkrupp Aktie: Einordnungen von Experten 14.12.24 - dpa-AFX Berichte: Trotz Entlastungen 2025 weniger Netto vom Brutto 1000 EILMELDUNG    Der nächste MicroStrategy? Der Solana-Schachzug dieses Unternehmens ist UMWERFEND weiterlesen» Anzeige wo-site-teaser-box-18830_site-teaser-box_2024-12-14_09%253A00%253A00_2024-12-16_09%253A00%253A59