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

Carbon Black, Inc.

CIK: 1366527 Ticker: CBLK

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 -

Carbon Black, Inc. (NASDAQ: CBLK), a leader in next-generation endpoint security, today announced its financial results for the first quarter ended March 31, 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.

 


The following information was filed by Carbon Black, Inc. (CBLK) on Thursday, June 7, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Redeemable Convertible And Convertible Preferred Stock
Consolidated Statement Of Stockholders' Deficit
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations And Comprehensive Loss
Commitments And Contingencies
Commitments And Contingencies (tables)
Commitments And Contingencies - Future Minimum Lease Payments (details)
Commitments And Contingencies - Hosting Services Agreement (details)
Commitments And Contingencies - Indemnifications (details)
Commitments And Contingencies - Litigation (details)
Commitments And Contingencies - Rent Expense (details)
Debt
Debt (details)
Equity Award Plans
Equity Award Plans (tables)
Equity Award Plans - Options To Purchase Common Stock - Activity (details)
Equity Award Plans - Options To Purchase Common Stock - Fair Value Assumptions (details)
Equity Award Plans - Options To Purchase Series A Preferred Stock - Activity (details)
Equity Award Plans - Options To Purchase Series A Preferred Stock - Fair Value Assumptions (details)
Equity Award Plans - Performance-based Rsus (details)
Equity Award Plans - Restricted Stock Units - Activity (details)
Equity Award Plans - Restricted Stock Units - Additional Information (details)
Equity Award Plans - Stock-based Compensation (details)
Equity Award Plans - Unrecognized Compensation Cost (details)
Fair Value Of Financial Instruments
Fair Value Of Financial Instruments (tables)
Fair Value Of Financial Instruments - Financial Assets And Liabilities Measured At Fair Value (details)
Fair Value Of Financial Instruments - Level 3 Roll Forward (details)
Fair Value Of Financial Instruments - Transfers (details)
Fair Value Of Financial Instruments - Valuation Assumptions (details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (tables)
Goodwill And Intangible Assets - Amortization Expense (details)
Goodwill And Intangible Assets - Estimated Future Amortization Expense (details)
Goodwill And Intangible Assets - Goodwill (details)
Goodwill And Intangible Assets - Identifiable Intangible Assets (details)
Income Taxes
Income Taxes - Provision (details)
Income Taxes - Tax Rate (details)
Nature Of Business And Basis Of Presentation
Nature Of Business And Basis Of Presentation - Initial Public Offering - Conversion (details)
Nature Of Business And Basis Of Presentation - Initial Public Offering - Sale Of Stock (details)
Nature Of Business And Basis Of Presentation - Reverse Stock Split (details)
Net Loss Per Share
Net Loss Per Share (tables)
Net Loss Per Share - Anti-dilutive Securities (details)
Net Loss Per Share - Basic And Diluted Net Loss Per Share (details)
Preferred Stock
Preferred Stock - Adjustment To The Carrying Value Redeemable Convertible Preferred Stock (details)
Preferred Stock - Liquidation Preference (details)
Preferred Stock - Options Exercised (details)
Property And Equipment, Net
Property And Equipment, Net (tables)
Property And Equipment, Net - Capitalized Internal-use Software (details)
Property And Equipment, Net - Depreciation And Amortization Expense (details)
Property And Equipment, Net - Tabular Disclosure (details)
Subsequent Events
Subsequent Events - 2018 Employee Stock Purchase Plan (details)
Subsequent Events - 2018 Stock Option And Incentive Plan (details)
Subsequent Events - Grants Of Restricted Stock (details)
Subsequent Events - Grants Of Stock Options (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies - Concentrations Of Risk - Accounts Receivable (details)
Summary Of Significant Accounting Policies - Concentrations Of Risk - Revenue (details)
Summary Of Significant Accounting Policies - Contract Costs (details)
Summary Of Significant Accounting Policies - Deferred Revenue (details)
Summary Of Significant Accounting Policies - Disaggregation Of Revenue - Revenue By Region (details)
Summary Of Significant Accounting Policies - Disaggregation Of Revenue - Revenue From Contracts With Customers (details)
Summary Of Significant Accounting Policies - Impact Of Recently Adopted Accounting Standards (details)
Summary Of Significant Accounting Policies - Performance Obligations - General Information (details)
Summary Of Significant Accounting Policies - Performance Obligations - Tabular Disclosure (details)
Summary Of Significant Accounting Policies - Select Unaudited Consolidated Statement Of Cash Flow Line Items (details)
Summary Of Significant Accounting Policies - Selected Unaudited Condensed Consolidated Balance Sheet Line Items (details)
Summary Of Significant Accounting Policies - Selected Unaudited Consolidated Statement Of Operations Line Items (details)
Summary Of Significant Accounting Policies - Subscription, License And Support Revenue (details)

Material Contracts, Statements, Certifications & more

Carbon Black, Inc. provided additional information to their SEC Filing as exhibits

Ticker: CBLK
CIK: 1366527
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-18-038911
Submitted to the SEC: Thu Jun 07 2018 4:14:40 PM EST
Accepted by the SEC: Thu Jun 07 2018
Period: Saturday, March 31, 2018
Industry: Prepackaged Software

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