Last10K.com

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

Carbon Black, Inc.

CIK: 1366527 Ticker: CBLK

Exhibit 99.1

Carbon Black Announces Third Quarter 2018 Financial Results

Third Quarter 2018 Total Revenue of $53.4 million, up 29% Year-over-Year

Third Quarter 2018 Recurring Revenue of $49.3 million, up 34% Year-over-Year

Third Quarter 2018 Cloud Revenue of $16.1 million, up 126% Year-over-Year

Ended the quarter with 4,625 total customers, including 2,450 cloud customers

Waltham, Mass. – October 25, 2018 - 

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

“Carbon Black delivered solid third quarter results, highlighted by 34% recurring revenue growth and 126% growth in cloud revenue,” said Patrick Morley, President and Chief Executive Officer of Carbon Black. “Our growing portfolio of products available on the Cb Predictive Security Cloud™, which is now up to 5, has established Carbon Black as a leading cloud endpoint security platform. Customers are choosing the PSC to help protect them from an increasing number of sophisticated cyber threats, while simplifying their security operations.”

Morley continued, “We are particularly excited by the recent introduction of Cb ThreatHunter, our new incident response and threat hunting solution available on the Predictive Security Cloud. Based on the capabilities of our industry leading Cb Response offering, Cb ThreatHunter leverages and extends our deep EDR expertise and intellectual property to the PSC. We believe the breadth and efficacy of the Predictive Security Cloud provide a number of growth opportunities for the company.”

Third Quarter 2018 Financial Highlights

·

Revenue: Total revenue was $53.4 million in the third quarter fiscal 2018, an increase of 29% year-over-year. Subscription, license and support revenue was $50.8 million, an increase of 32% year-over-year, and services revenue was $2.6 million, a decrease of 17% year-over-year.

·

Gross Profit: Gross profit was $41.5 million in the third quarter fiscal 2018, representing a 78% gross margin, up from 76% in the year-ago period. Non-GAAP gross profit was $42.1 million, representing a 79% non-GAAP gross margin.

·

Loss from Operations: Loss from operations was ($18.1) million in the third quarter fiscal 2018, compared to ($13.7) million in the year-ago period. Non-GAAP loss from operations was ($14.1) million in the third quarter fiscal 2018, compared to ($11.0) million in the year-ago period.

·

Net Loss: Net loss was ($17.6) million in the third quarter fiscal 2018. Net loss attributable to common stockholders was ($17.6) million, or ($0.26) per share based on 67.8 million weighted-average shares outstanding, in the third quarter fiscal 2018. In the year ago period, net loss was ($13.6) million and net loss attributable to common stockholders was ($21.0) million, or ($1.99) per share based on 10.6 million weighted-average shares outstanding.  Non-GAAP net loss was ($13.6) million, or ($0.20) per share based on 67.8 million weighted-average shares outstanding. This compares to ($10.9) million, or ($1.03) per share based on 10.6 million weighted-average shares outstanding, in the year-ago period.

·

Cash and Cash Flow: As of September 30, 2018, Carbon Black had $163.8 million in cash, cash equivalents and short-term investments. During the three months ended September 30, 2018, Carbon Black used ($13.4) million of cash in operations and ($2.1) million in capital expenditures and capitalized software development costs, leading to negative free cash flow of ($15.4) million, compared to free cash flow of $11,000 in the year-ago period.

A reconciliation of each of recurring revenue, 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.”

Third Quarter 2018 and Recent Business Highlights

·

Continued to grow our customer base, ending the quarter with 4,625 total customers, up from 3,335 in the year-ago period and from 4,308 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.

·

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 2,450 at the end of the third quarter, compared to 1,170 in the year-ago period and 2,157 at the end of the previous quarter.

·

Introduced Cb ThreatHunter, the 5th product built on the Predictive Security Cloud platform. Cb ThreatHunter builds off the industry leading incident response tools of Cb Response and extends that capability to the cloud with new functionality like more powerful search, enhanced threat intel matching and elastic cloud scalability. Cb ThreatHunter leverages our patented technology that uniquely captures unfiltered endpoint data. By continuously recording and centrally storing collected endpoint device data, Cb ThreatHunter provides security teams with greater visibility into potential threats across their environments.


The following information was filed by Carbon Black, Inc. (CBLK) on Thursday, October 25, 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.

View differences made from one quarter to another to evaluate Carbon Black, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Carbon Black, Inc..

Continue

Assess how Carbon Black, Inc.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Carbon Black, Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

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’ Equity
Unaudited Condensed Consolidated Statement Of Stockholders’ Equity (Parenthetical)
Unaudited Condensed Consolidated Statements Of Cash Flows
Unaudited Condensed Consolidated Statements Of Cash Flows (Parenthetical)
Unaudited Condensed Consolidated Statements Of Comprehensive Loss
Unaudited Condensed Consolidated Statements Of Operations
Cash Equivalents And Short Term Investments (Tables)
Cash Equivalents And Short-Term Investments
Cash Equivalents And Short-Term Investments - Cash Equivalents (Details)
Cash Equivalents And Short-Term Investments - Short-Term Investments (Details)
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 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 - Disposals (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: 0001558370-18-007888
Submitted to the SEC: Thu Oct 25 2018 4:30:20 PM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Prepackaged Software

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/cblk/0001558370-18-007888.htm