Carbon Black, Inc. (CBLK) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 31, 2018

Exhibit 99.1

Carbon Black Announces First Quarter 2018 Financial Results

First Quarter 2018 Total Revenue of $48.4 million, up 35% Year-over-Year

First Quarter 2018 Cloud Revenue of $11.7 million, up 195% Year-over-Year

Ended the quarter with 4,006 total customers, including 1,870 cloud customers

Waltham, Mass. - June 7, 2018 -

“We began 2018 with strong financial and operational results highlighted by 195% cloud revenue growth,” said Patrick Morley, President and Chief Executive Officer of Carbon Black. “Our performance was driven by growing demand for our next-generation endpoint security platform, the Cb Predictive Security Cloud. The PSC protects customers from today’s most advanced cyber threats, including ransomware and new types of attacks that have never been seen before and are undetectable by legacy AV products.”

Morley continued, “The Cb Predictive Security Cloud platform leverages our unique ability to capture and analyze unfiltered endpoint data, positioning us to disrupt a $19 billion addressable market comprised of endpoint security market and adjacent categories. Our successful IPO provides significant resources to pursue our long-term growth strategy, which we believe will increase the value we deliver to customers and generate attractive returns for shareholders.”

First Quarter 2018 Financial Highlights

· Revenue: Total revenue was $48.4 million in the first quarter fiscal 2018, an increase of 35% year-over-year. Subscription revenue was $45.4 million, an increase of 38% year-over-year, and services revenue was $3.0 million, an increase of 4% year-over-year.

· Gross Profit: Gross profit was $38.2 million in the first quarter fiscal 2018, representing a 78.9% gross margin, consistent with the year-ago period. Non-GAAP gross profit was $38.7 million, representing an 80.0% non-GAAP gross margin.

· Loss from Operations: Loss from operations was ($17.8) million in the first quarter fiscal 2018, compared to ($12.5) million in the year-ago period. Non-GAAP loss from operations was ($11.1) million, compared to ($9.9) million in the year-ago period.

· Net Loss: Net loss was ($20.6 million). Net loss attributable to common stockholders was ($60.6) million, or ($5.38) per share based on 11.3 million weighted-average shares outstanding, in the first quarter fiscal 2018. Net loss attributable to common stockholders includes ($40.0) million of accretion of preferred stock to redemption value. In the year ago period, net loss was ($12.4) million and net loss attributable to common stockholders was ($24.1) million, or ($2.40) per share based on 10.0 million weighted-average shares outstanding. Non-GAAP net loss was ($11.0) million, or ($0.98) per share based on 11.3 million weighted-average shares outstanding. This compares to ($10.0) million, or ($0.99) per share based on 10.0 million non-GAAP weighted-average shares outstanding, in the year-ago period.

· Cash Flow: As of March 31, 2018, Carbon Black had $33.7 million in cash and cash equivalents. During the three months ended March 31, 2018, Carbon Black used ($0.8) million of cash in operations and ($1.8) million in capital expenditures and capitalized software development costs, leading to negative free cash flow of ($2.6) million, compared to negative free cash flow of ($8.1) million in the year-ago period. Subsequent to the end of the quarter, the company closed its initial public offering of common stock on May 8, 2018, which generated proceeds, net of underwriting discounts and commissions, of $162.6 million.