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Carbon Black, Inc. (CBLK) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 30, 2018

Carbon Black, Inc.

CIK: 1366527 Ticker: CBLK

Exhibit 99.1

Carbon Black Announces Second Quarter 2018 Financial Results

Second Quarter 2018 Total Revenue of $51.0 million, up 32% Year-over-Year

Second Quarter 2018 Cloud Revenue of $13.7 million, up 146% Year-over-Year

Ended the quarter with 4,308 total customers, including 2,157 cloud customers

Waltham, Mass. – August 7, 2018 -

Carbon Black, Inc. (NASDAQ: CBLK), a leader in next-generation endpoint security, today announced its financial results for the second quarter ended June 30, 2018.

“Carbon Black performed well in the second quarter, highlighted by 34% ARR growth and 146% growth in cloud revenue,” said Patrick Morley, President and Chief Executive Officer of Carbon Black. “We are benefiting from growing market awareness and adoption of the Predictive Security Cloud™ and its flagship product, Cb Defense. Customers are increasingly turning to Carbon Black to replace their ineffective legacy antivirus products and to better protect their data and operations from a growing array of advanced cyber threats.”

Morley continued, “The recent announcement of Cb LiveOps™ is an important extension of the Predictive Security Cloud and demonstrates our ability to provide additional customer value from a single console and single agent. Our growing product portfolio and highly differentiated technology position Carbon Black to deliver continued strong growth and generate value for shareholders.”

Second Quarter 2018 Financial Highlights

·

Revenue: Total revenue was $51.0 million in the second quarter fiscal 2018, an increase of 32% year-over-year. Subscription, license and support revenue was $47.9 million, an increase of 34% year-over-year, and services revenue was $3.1 million, an increase of 5% year-over-year.

·

Gross Profit: Gross profit was $39.9 million in the second quarter fiscal 2018, representing a 78.2% gross margin, consistent with the year-ago period. Non-GAAP gross profit was $40.4 million, representing a 79.3% non-GAAP gross margin.

·

Loss from Operations: Loss from operations was ($19.2) million in the second quarter fiscal 2018, compared to ($12.4) million in the year-ago period. Non-GAAP loss from operations was ($15.3) million in the second quarter fiscal 2018, compared to ($9.9) million in the year-ago period.

·

Net Loss: Net loss was ($25.3) million in the second quarter fiscal 2018. Net loss attributable to common stockholders was ($184.7) million, or ($4.13) per share based on 44.8 million weighted-average shares outstanding, in the second quarter fiscal 2018. Net loss attributable to common stockholders includes ($159.5) million of accretion of preferred stock to redemption value. In the year ago period, net loss was ($12.3) million and net loss attributable to common stockholders was ($9.0) million, or ($0.88) per share based on 10.3 million weighted-average shares outstanding. Non-GAAP net loss was ($15.4) million, or ($0.35) per share based on 44.8 million weighted-average shares outstanding. This compares to ($9.8) million, or ($0.95) per share based on 10.3 million weighted-average shares outstanding, in the year-ago period.

·

Cash and Cash Flow: As of June 30, 2018, Carbon Black had $178.5 million in cash and cash equivalents. During the three months ended June 30, 2018, Carbon Black used ($13.9) million of cash in operations and ($3.4) million in capital expenditures and capitalized software development costs, leading to negative free cash flow of ($17.3) million, compared to negative free cash flow of ($9.3) million in the year-ago period.

A reconciliation of each of non-GAAP gross profit, non-GAAP gross margin, non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss per share and free cash flow to the most directly comparable GAAP measure has been provided in the tables at the end of this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

Second Quarter 2018 and Recent Business Highlights

·

Continued to grow its customer base, ending the quarter with 4,308 total customers, up from 3,044 in the year-ago period and from 4,006 at the end of the previous quarter. Growth was driven by strong demand across the entire product portfolio and customer acquisition across a broad range of industries. New customers, for example, included a leading global real estate company, one of the world’s largest consumer electronics companies, a major Middle Eastern utility, a leading European airline as well as a major European bank.

·

Continued traction with our cloud products, providing powerful customer validation of the Predictive Security Cloud platform. Growth of customers who licensed at least one cloud product increased to 2,157 at the end of the second quarter, compared to 893 in the year-ago period and 1,870 at the end of the previous quarter.


The following information was filed by Carbon Black, Inc. (CBLK) on Tuesday, August 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
Unaudited Condensed Consolidated Balance Sheets
Unaudited Condensed Consolidated Balance Sheets (Parenthetical)
Unaudited Condensed Consolidated Statement Of Redeemable Convertible And Convertible Preferred Stock
Unaudited Condensed Consolidated Statement Of Stockholders’ Deficit
Unaudited Condensed Consolidated Statement Of Stockholders’ Deficit (Parenthetical)
Unaudited Condensed Consolidated Statements Of Cash Flows
Unaudited Condensed Consolidated Statements Of Cash Flows (Parenthetical)
Unaudited Condensed 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 - 2018 Employee Stock Purchase Plan (Details)
Equity Award Plans - 2018 Stock Option And Incentive Plan (Details)
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 - Restricted Stock Units - Activity (Details)
Equity Award Plans - Series E-1 Preferred Stock Options (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 - Valuation Assumptions (Details)
Fair Value Of Financial Instruments - Warrants Exercised (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)
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)
New Accounting Pronouncements
New Accounting Pronouncements (Tables)
New Accounting Pronouncements - Impact Of Recently Adopted Accounting Standards (Details)
New Accounting Pronouncements - Select Unaudited Condensed Consolidated Balance Sheet Line Items (Details)
New Accounting Pronouncements - Select Unaudited Consolidated Statement Of Cash Flow Line Items (Details)
New Accounting Pronouncements - Select Unaudited Consolidated Statement Of Operations Line Items (Details)
Overview And Basis Of Presentation
Overview And Basis Of Presentation (Policies)
Overview And Basis Of Presentation - Initial Public Offering - Conversion Of Preferred Stock (Details)
Overview And Basis Of Presentation - Initial Public Offering - Sale Of Stock (Details)
Overview And Basis Of Presentation - Initial Public Offering - Warrants Exercised (Details)
Overview And Basis Of Presentation - Reverse Stock Split (Details)
Preferred Stock
Preferred Stock (Tables)
Preferred Stock - Adjustment To The Carrying Value Redeemable Convertible Preferred Stock (Details)
Preferred Stock - General Information (Details)
Preferred Stock - Liquidation Preference (Details)
Preferred Stock - Options Exercised (Details)
Preferred Stock - Tabular Disclosure (Details)
Preferred Stock Warrants And Common Stock Warrants
Preferred Stock Warrants And Common Stock Warrants (Tables)
Preferred Stock Warrants And Common Stock Warrants - General Information (Details)
Preferred Stock Warrants And Common Stock Warrants - Warrants Exercised (Details)
Preferred Stock Warrants And Common Stock Warrants - Warrants Outstanding - Additional Information (Details)
Preferred Stock Warrants And Common Stock Warrants - Warrants Outstanding - Tabular Disclosure (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)
Revenue
Revenue (Tables)
Revenue - Concentrations Of Risk - Accounts Receivable (Details)
Revenue - Concentrations Of Risk - Revenue (Details)
Revenue - Contract Costs (Details)
Revenue - Deferred Revenue (Details)
Revenue - Disaggregation Of Revenue - Revenue By Region (Details)
Revenue - Disaggregation Of Revenue - Revenue From Contracts With Customers (Details)
Revenue - Performance Obligations - General Information (Details)
Revenue - Performance Obligations - Tabular Disclosure (Details)
Revenue - 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: 0001558370-18-006621
Submitted to the SEC: Tue Aug 07 2018 4:45:17 PM EST
Accepted by the SEC: Tue Aug 07 2018
Period: Saturday, June 30, 2018
Industry: Prepackaged Software

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