Stock Monitor: Agilysys Post Earnings Reporting
LONDON, UK / ACCESSWIRE / June 19, 2018 / If you want access to our free earnings report on ForeScout Technologies, Inc. (FSCT) (“ForeScout”), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FSCT. The Company reported its first quarter fiscal 2018 operating and financial results on May 10, 2018. The Internet of Things (IoT) security Company outperformed top- and bottom-line expectations. Additionally, the Company provided guidance for the upcoming quarter and fiscal year. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Earnings Highlights and Summary
For the first quarter ended March 31, 2018, ForeScout's total revenues were $59.7 million, reflecting an increase of 42% compared to $42.2 million in Q1 2017. The Company's revenue numbers beat analysts' estimates by $3.77 million.
During Q1 2018, ForeScout's product revenues soared 47% to $29.8 million compared to $20.3 million in Q1 2017. The Company's maintenance and professional services revenues were $29.9 million in the reported quarter, representing a growth of 37% compared to $21.9 million in the year earlier same quarter.
For Q1 2018, ForeScout's GAAP gross profit was $43.2 million, or 72% of total revenues, compared to $29.7 million, or 70% of total revenues, in Q1 2017. The Company's non-GAAP gross profit was $44.0 million, or 74% of total revenues, in the reported quarter versus $30.0 million, or 71% of total revenues, in the prior year's comparable quarter.
ForeScout recorded a GAAP operating loss of $27.5 million, or 46% of total revenues, in Q1 2018 compared to an operating loss of $25.6 million, or 61% of total revenues, in Q1 2017. The Company's non-GAAP operating loss came in at $13.9 million, or 23% of total revenues, in the reported quarter compared to an operating loss of $21.3 million, or 51% of total revenues, in the year earlier corresponding quarter.
For Q1 2018, ForeScout reported a GAAP net loss of $28.2 million, or $0.74 loss per share, compared to a GAAP net loss of $27.1 million, or $4.57 loss per share, in Q1 2017. The Company's non-GAAP net loss narrowed to $14.6 million, or $0.38 loss per share, in the reported quarter compared to $22.5 million, or $3.79 loss per share, in the year earlier same quarter. ForeScout's earnings numbers were better than Wall Street's estimates for a loss of $0.45 per share.
During Q1 2018, ForeScout's net cash provided by operating activities was $24.5 million, or 41% of total revenues, compared to $12.8 million, or 30% of total revenues, in Q1 2017, reflecting an improvement of 1,100 basis points (bps). The Company's free cash flow was $22.1 million, or 37% of total revenues, in the reported quarter versus $11.5 million, or 27% of total revenues, in the year earlier comparable quarter; representing an improvement of 1,000 bps margin on a y-o-y basis.
For the second quarter of the fiscal year 2018, ForeScout is forecasting revenues to be in the range of $61.0 million - $64.0 million, the midpoint of which would represent a y-o-y growth of 25%. For the upcoming quarter, the Company is expecting non-GAAP operating loss to be in the band of $14.6 million to $13.8 million, and non-GAAP net loss per share to be in the range of $0.39 to $0.37.
For the full fiscal year 2018, ForeScout is projecting revenues to be in the band of $270.4 million to $280.4 million, the midpoint of which would represent a y-o-y growth of 23%. The Company is expecting non-GAAP operating loss to be in the range of $40.0 million to $36.0 million, and non-GAAP net loss per share to be in the band of $1.08 to $1.00.
Stock Performance Snapshot
June 18, 2018 - At Monday's closing bell, ForeScout Technologies' stock marginally advanced 0.77%, ending the trading session at $36.43.
Volume traded for the day: 743.83 thousand shares, which was above the 3-month average volume of 651.00 thousand shares.
Stock performance in the last month – up 17.36%; previous three-month period – up 17.14%; past six-month period – up 25.36%; and year-to-date – up 14.24%
After yesterday's close, ForeScout Technologies' market cap was at $1.49 billion.
The stock is part of the Technology sector, categorized under the Application Software industry. This sector was up 0.2% at the end of the session.
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