Exhibit 99.1

 

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citrix 2020 Q4 Financials January 19, 2021 To Our Stakeholders Our fourth quarter results reflect continued execution against our strategy - including strong on-going demand for the Citrix Workspace and an acceleration of our customers adopting Citrix Cloud to manage their workspace environments. The pandemic that we have all experienced has accelerated the trends driving distributed teams and hybrid-work, emphasizing the importance of an organization’s ability to securely deliver all of the work resources employees need in one unified experience. Today’s announcement of our entry into a definitive agreement to acquire Wrike, a market-leading born-in- the-cloud Collaborative Work Management platform, is expected to accelerate our strategy and supports our common mission of removing the complexity of today’s distributed work environments so employees, teams and organizations can perform at their best. This acquisition will allow us to move forward faster in our strategy to build on and expand beyond the growing virtualization market. Highlights include: Fourth quarter subscription ARR1 was $1.20 billion, up 62% year-over-year, and SaaS ARR was $725 million, up 39% year-over-year Reported revenue was $810 million in the fourth quarter and $3.24 billion for the full year. For the fourth quarter, GAAP diluted EPS was $0.89, and non-GAAP diluted EPS2 was $1.46. For the full year, GAAP diluted EPS was $4.00 and non-GAAP diluted EPS2 was $6.10 Fourth quarter subscription bookings as a percentage of total product bookings was 85%, up from 69% in the fourth quarter of 2019. For the full year, subscription bookings as a percentage of total product bookings were 75%, up from 62% in 2019 Board of Directors increased the quarterly dividend from $0.35 to $0.37 per share to be paid on March 26, 2021 to shareholders of record on March 12, 2021 as a result of the company’s strong performance and confidence in free cash flow generation Signed definitive agreement to acquire Wrike for $2.25 billion in cash which is expected to close in the first half of 2021. Wrike ended 2020 with more than $140 million in unaudited SaaS ARR, reflecting over a 30% CAGR in SaaS ARR over the prior two years. The company is expected to have approximately 30% standalone growth to between $180 million and $190 million in SaaS ARR3 in 2021, with the opportunity to accelerate growth over time under Citrix’s ownership. The transaction is expected to be neutral to our FY2022 non-GAAP earnings per share and free cash flow and accretive thereafter. ‘Annualized Recurring Revenue, or ARR, is an operating metric that represents the contracted recurring value of all termed subscriptions normalized to a one-year period. It is calculated at the end of a reporting period by taking each contract’s recurring total contract value and dividing by the length of the contract. ARR includes only active contractually committed, fixed subscription fees. Our definition of ARR includes contracts expected to recur and therefore excludes contracts with durations of 12 months or less where licenses were issued to address extraordinary business continuity events for our customers. All contracts are annualized, including 30 day offerings where we take monthly recurring revenue multiplied by 12 to annualize. ARR should be viewed independently of U.S. GAAP revenue, deferred revenue and unbilled revenue and is not intended to be combined with or to replace those items. ARR is not a forecast of future revenue. This definition of ARR does not apply to business combinations not yet consummated by the Company. 2A reconciliation of GAAP to non-GAAP measures has been provided in the financial statement tables included in this letter. An explanation of these measures is also included below under the heading “Reconciliation of Non-GAAP Financial Measures to Comparable U.S. GAAP Measures.” -;ARR does not reflect adjustments to revenue or future committed revenue that may arise in accounting for a business combination, and is not intended to be a forecast of future revenue Ci Iri X . 2020 I Q4 and Full Year Financials 1 annualized recurring , or ARR is an operating metric that represents the contracted recurring value of all termed subscriptions normalized to a one-year period It is calculated at the end of a reporting period by taking each contract’s recurring total contract value dividing by the length of contract. ARR includes only active contractually committed fixed subscriptions fees. Our definition of ARR includes contracts expected to recur and therefore excludes contracts with durations of 12 months or less where licenses were issued to address extraordinary business continuity events for our customers. All contracts are annualized, including 30 day offerings where we take monthly recurring revenue multiplied by 12 to annualize. ARR should be viewed independently of U.S. GAAP revenue deferred revenue and unbilled revenue and is not intended to be combined with or to replace those items. ARR is not a forecast of future revenues. This definition of ARR does not apply to business combination not yet consummated by the company.2 A Reconciliation of GAAP to non-GAAP measures has been provided in the financial statement tables included in this letter an explanation of these measures is also included below under the heading “Reconciliation of non-GAAP Financial Measures to Comparable U.S. GAAP measures ” 3 ARR does not reflect adjustments to revenue or future committed revenue that may arise in accounting for a business combination and is intened forecast of future revenue


The following information was filed by Citrix Systems Inc (CTXS) on Tuesday, January 19, 2021 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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