Everbridge Shares Gain As It Tops Q3; Trims Workforce

Everbridge Shares Gain As It Tops Q3; Trims Workforce
  • Everbridge, Inc EVBG clocked a 15% revenue growth in Q3 to $111.4 million, topping the consensus of $110.8 million
  • Non-GAAP EPS of $0.27 beat the consensus of $0.16.
  • Non-GAAP operating profit was $9.8 million versus $2.2 million a year ago.
  • Everbridge ended Q3 with 6,417 global enterprise customers, up from 6,010 a year ago.
  • David Wagner, Everbridge's President and CEO, said, "During the fourth quarter, we are optimizing our cost structure and intend to restructure and reduce Everbridge's workforce by approximately 200 employees, creating a clear line of sight to adjusted EBITDA of $85 million and a baseline revenue growth rate of 6% to 7% in 2023."
  • Outlook: Everbridge sees Q4 revenue of $116.0 million - $116.4 million versus the consensus of $116.2 million.
  • It sees non-GAAP EPS of $0.30 - $0.31, above the consensus of $0.16.
  • Everbridge updated FY22 revenue to $430.8 million - $431.2 million, compared to the previous $428.2 million - $432.8 million, versus the consensus of $430.3 million.
  • It sees non-GAAP EPS of $0.59 - $0.60, up from the previous $0.33 - $0.38, above the consensus of $0.36.
  • Price Action: EVBG shares traded higher by 7.42% at $26.85 on the last check Tuesday.
  • Photo Via Company

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