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Carbon Black, Inc. (CBLK) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2018

Carbon Black, Inc.

CIK: 1366527 Ticker: CBLK

Exhibit 99.1

Carbon Black Announces Fourth Quarter and Full Year Fiscal 2018 Financial Results

Fourth Quarter 2018 Total Revenue of $56.9 million, up 27% Year-over-Year

Fourth Quarter 2018 Subscription, License and Support Revenue of $54.4 million, up 31% Year-over-Year

Fourth Quarter 2018 Recurring Revenue of $52.9 million, up 32% Year-over-Year

Fourth Quarter 2018 Cloud Revenue of $18.8 million, up 102% Year-over-Year

Ended the quarter with 5,025 total customers, including 2,851 cloud customers

 

Waltham, Mass. – February 20, 2019 -

 Carbon Black, Inc. (NASDAQ: CBLK), a leader in next-generation endpoint security delivered via the cloud, today announced its financial results for the fourth quarter and full year ended December 31, 2018.

“Carbon Black’s fourth quarter results were highlighted by 32% recurring revenue growth and 102% growth in cloud revenue,” said Patrick Morley, President and Chief Executive Officer of Carbon Black. “2018 was a critical year for Carbon Black, as we successfully transitioned to a cloud-first company.  The endpoint protection market is at the very beginning stages of a once-in-a-generation platform shift to the cloud.  We believe the powerful set of offerings available on our CB Predictive Security Cloud™  positions Carbon Black as the leading next-generation cloud platform and will enable us to consolidate the fragmented next-generation endpoint security market.”

 

Morley continued, “We introduced a significant number of innovative cloud products onto the Predictive Security Cloud during 2018. In 2019 we will focus on refining our demand generation and sales and channel enablement capabilities to sell our expanded cloud security platform.  We expect this will have a near-term impact on growth and believe it is essential to maximizing the long-term market opportunity for the company.”

Fourth Quarter 2018 Financial Highlights

·

Revenue: Total revenue was $56.9 million in the fourth quarter fiscal 2018, an increase of 27% year-over-year. Subscription, license and support revenue was $54.4 million, an increase of 31% year-over-year, and services revenue was $2.5 million, a decrease of 17% year-over-year.  

·

Gross Profit: Gross profit was $44.3 million in the fourth quarter fiscal 2018, representing a 78% gross margin, in line with the year-ago period. Non-GAAP gross profit was $44.9 million, representing a 79% non-GAAP gross margin, in line with the year-ago period.

·

Loss from Operations: Loss from operations was ($19.5) million in the fourth quarter fiscal 2018, compared to ($14.0) million in the year-ago period. Non-GAAP loss from operations was ($15.0) million in the fourth quarter fiscal 2018, compared to ($11.3) million in the year-ago period.

·

Net Loss: Net loss was ($18.6) million in the fourth quarter fiscal 2018. Net loss attributable to common stockholders was ($18.6) million, or ($0.27) per share based on 68.8 million weighted-average shares outstanding, in the fourth quarter fiscal 2018. In the year-ago period, net loss was ($14.8) million and net loss attributable to common stockholders was ($27.1) million, or ($2.51) per share based on 10.8 million weighted-average shares outstanding.  Non-GAAP net loss was ($14.1) million, or ($0.20) per share based on 68.8 million weighted-average shares outstanding. This compares to ($11.3) million, or ($1.04) per share based on 10.8 million weighted-average shares outstanding, in the year-ago period.

·

Cash and Cash Flow: As of December 31, 2018, Carbon Black had $160.6 million in cash, cash equivalents and short-term investments. During the three months ended December 31, 2018, Carbon Black used ($9.2) million of cash in operations and ($1.1) million in capital expenditures and capitalized software development costs, leading to negative free cash flow of ($10.3) million, compared to positive free cash flow of $3.6 million in the year-ago period.

 


The following information was filed by Carbon Black, Inc. (CBLK) on Wednesday, February 20, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Summary Of Significant Accounting Policies - Comprehensive Loss (Details)
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Summary Of Significant Accounting Policies - Concentrations Of Risk - Revenue (Details)
Summary Of Significant Accounting Policies - Concentrations Of Risk - Revenue From Customers Located Outside The United States (Details)
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Summary Of Significant Accounting Policies - Foreign Currency Translation (Details)
Summary Of Significant Accounting Policies - Goodwill (Details)
Summary Of Significant Accounting Policies - Property And Equipment (Details)
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Summary Of Significant Accounting Policies - Revenue Recognition - Contract Costs (Details)
Summary Of Significant Accounting Policies - Revenue Recognition - Deferred Revenue (Details)
Summary Of Significant Accounting Policies - Revenue Recognition - Revenue Sources (Details)
Summary Of Significant Accounting Policies - Revenue Recognition - Subscription, License And Support Revenue (Details)
Summary Of Significant Accounting Policies - Segment Information (Details)
Summary Of Significant Accounting Policies - Software Development Costs (Details)
Summary Of Significant Accounting Policies - Warrants Exercised (Details)
Summary Of Significant Accounting Policies - Warrants Outstanding (Details)
Ticker: CBLK
CIK: 1366527
Form Type: 10-K Annual Report
Accession Number: 0001558370-19-001718
Submitted to the SEC: Fri Mar 08 2019 4:07:19 PM EST
Accepted by the SEC: Fri Mar 08 2019
Period: Monday, December 31, 2018
Industry: Prepackaged Software

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