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- Citrix Systems Inc (NASDAQ: CTXS) reported a first-quarter FY21 revenue decline of 10% year-on-year to $776 million (including Wrike), missing the consensus of $797.64 million.
- Product & License revenue declined 74% to $44 million following the discontinuation of the Workspace perpetual licensing offering.
- Subscription revenue rose 28% to $342 million, SaaS revenue rose 40% to $171 million.
- Wrike contributed $7 million to SaaS revenue, and Support & Services revenue declined 7% to $389 million.
- Workspace revenue fell 11% to $581 million due to the cessation of licensing offering. App Delivery and Security revenue declined 6% to $170 million.
- Professional Services revenue reduced 9% to $25 million.
- Revenue from Americas declined 12% to $427 million, representing 55% of revenue. Revenue from EMEA and APJ declined 5% and 14%.
- Total ARR grew 15% and 22%, including and excluding Wrike. Citrix Cloud Paid Subscribers rose 34% to over 10.3 million.
- Non-GAAP operating margin amounted to 27%.
- Non-GAAP EPS was $1.42, missing analyst estimate of $1.43.
- The company generated $213 million in operating cash flow. It held $510 million in cash and equivalents.
- The company paid a dividend totaling $46 million, representing a dividend per share of $0.37.
- Citrix acquired SaaS collaborative work management solutions provider Wrike last month for $2.25 billion.
- Guidance: Citrix expects Q2 revenue between $840 million and $850, above the consensus estimate of $828.73 million. Non-GAAP EPS estimate lies between $1.15 and $1.2, below the analyst estimate of $1.55.
- Price action: CTXS shares traded lower by 9.44% at $125.43 on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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