FireEye Beats Q4 Expectations

FireEye Inc FEYE announced financial results Wednesday for the fourth quarter and beat expectations.

Fourth quarter revenue was $143.0 million, above estimates of $141.44 million and the $57.26 million reported in the prior year period.

Total revenue included product revenue of $67.9 million and subscription and services revenue of $75.0 million. Subscription and services revenue included product subscription and support revenue of $54.9 million and professional services revenue of $20.1 million.

The fourth quarter non-GAAP net loss was $56.6 million, or $0.38 per share, beating expectations of a $0.49 loss per share.

The non-GAAP loss per share was based on 148 million weighted average shares outstanding. The loss compares to a non-GAAP net loss of $40.5 million, or $0.35 per share (based on approximately 115 million weighted average shares outstanding), in the fourth quarter of 2013.

David DeWalt, CEO and Chairman of the Board of FireEye, said that in 2014, "we brought together the industry's best technology, security expertise, and threat intelligence to protect organizations from advanced targeted attacks. We responded to nearly every high profile breach in the U.S., and we established strategic relationships with Global 2000 customers and partners around the world."

For the first quarter of 2015, FireEye guided total revenue in the range of $118 to $122 million, in line with expectations of $121.12 million. The company expected a non-GAAP loss per share of $0.49 to $0.53, based on estimated weighted average shares outstanding of approximately 149 million. Analysts expected a loss of $0.53 per share.

For the full year of 2015, the company guided total revenue in the range of $605 to $625 million with a non-GAAP loss per share of $1.80 to $1.90, based on estimated weighted average shares outstanding of approximately 151 million. Analysts expected 2015 revenue of $622.41 million and a loss per share of $1.87.

FireEye Inc traded at $37.86 in the after hours session, up 6.08 percent.