Forescout Technologies Announces Preliminary Second Quarter 2020 Revenue
08 Julio 2020 - 7:00AM
Forescout Technologies, Inc. (NASDAQ:FSCT), the leader in device
visibility and control, today announced preliminary unaudited
results for its second quarter ended June 30, 2020, based upon
preliminary unaudited financial information.
Total revenue for the second quarter is expected to be in the
range of $78 million - $82 million, up 40% quarter-over-quarter at
the midpoint of the range. Within this, the company
anticipates license revenue from sales of one-year term-based
licenses to be in excess of 35% of all license revenue.
During the second quarter, Forescout closed strategic deals with
both new and existing customers and demonstrated strong traction on
its plan of building a more predictable revenue stream through
sales of term-based licenses and other subscription
offerings.
Michael DeCesare, CEO and President of Forescout Technologies
said:
“I am extremely proud of our team’s performance. We remained
focused and executed well, despite macroeconomic challenges and the
impact of ongoing litigation with Advent International. The
strength of our quarterly results shows the compelling value
proposition for Forescout’s solutions and that we can execute and
deliver despite obstacles. We believe Advent’s claims are
without merit, and we are continuing to pursue our rights under the
existing merger agreement.”
The above information reflects preliminary estimates with
respect to Forescout’s second quarter 2020 results based on
currently available information. Forescout is providing ranges,
rather than specific amounts, for the preliminary estimates
primarily because the financial close process and review are not
yet complete and, as a result, Forescout’s final results may vary
from these preliminary estimates.
There will not be a conference call in conjunction with this
press release. Forescout intends to release final information
regarding its second quarter 2020 financial results at a future
date.
About Forescout
Forescout Technologies, Inc. provides security at first sight.
Our company delivers device visibility and control to enable
enterprises and government agencies to gain complete situational
awareness of their environment and orchestrate action. Learn more
at www.Forescout.com.
©2020 Forescout Technologies, Inc. All rights
reserved. Forescout Technologies, Inc. is a Delaware
corporation. A list of our trademarks and patents can be found at
https://www.Forescout.com/company/legal/intellectual-property-patents-trademarks.
Other brands, products, or service names may be trademarks or
service marks of their respective owners.FSCT -
F
Forward Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties, including statements regarding:
our preliminary financial results for the second quarter 2020;
demand for our products and our market opportunity; the
benefits of our solution to customers; and our new licensing
models, products and solutions. These forward-looking statements
involve risks and uncertainties. If any of these risks or
uncertainties materialize, or if any of our assumptions prove
incorrect, our actual results could differ materially from the
results expressed or implied by these forward-looking statements.
These risks and uncertainties include risks associated with: the
COVID-19 pandemic and related public health measures on our
business, customers, markets and the worldwide economy; our pending
transaction with affiliates of Advent International Corporation,
including the risk that the conditions to the closing of the
transaction are not satisfied or that the transaction is not
consummated; litigation relating to the transaction; uncertainties
as to the timing of the consummation of the transaction and the
ability of each party to consummate the transaction; risks that the
proposed transaction disrupts our current plans and operations; the
evolution of the cyberthreat landscape facing enterprises in the
United States and other countries; our plans to attract new
customers, retain existing customers and increase our annual
revenue; the development and delivery of new products; our plans
and expectations regarding software-as-a-service offerings; our
ability to execute on, integrate, and realize the benefits of any
acquisitions; fluctuations in our quarterly results of operations
and other operating measures; increasing competition; new
integrations to the Forescout platform; general economic, market
and business conditions; and the risks described in the filings
that Forescout makes with the Securities and Exchange Commission
(SEC) from time to time, including the risks described under the
headings "Risk Factors" and "Management Discussion and Analysis of
Financial Condition and Results of Operations" in our Annual Report
on Form 10-K, which was filed with the SEC on February 28, 2020, as
amended by Amendment No. 1 on Form 10-K/A to our Annual Report on
Form 10-K, which was filed the SEC on April 29, 2020, and which
should be read in conjunction with our financial results and
forward-looking statements, and is available on the SEC filings
section of the Investor Relations page of our website at
https://investors.Forescout.com. Additional information is set
forth in our Quarterly Report on Form 10-Q for the quarter ended
March 31, 2020, which was filed with the SEC on May 11, 2020. All
forward-looking statements in this press release are based on
information available to us as of the date hereof, and we do not
assume any obligation to update the forward-looking statements
provided to reflect events that occur or circumstances that exist
after the date on which they were made, except as required by
law.
Investor Relations
Contact: |
Media Relations Contact: |
Michelle Spolver |
Katie Beck |
408-721-5884 |
650-314-8705 |
michelle.spolver@forescout.com |
katie.beck@forescout.com |
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