Everbridge Shares Drop On Cautious Q1 Outlook; Registers 14% Revenue Growth In Q4 Backed By Recurring Bookings, Renewals

  • Everbridge, Inc EVBG clocked a 14% revenue growth in Q3 to $117.1 million, beating the consensus of $116.2 million
  • Non-GAAP EPS of $0.39 beat the consensus of $0.31.
  • Non-GAAP operating profit was $14.6 million versus $(1.4) million a year ago.
  • Everbridge ended Q3 with 6,513 global enterprise customers, up from 6,135 a year ago.
  • Patrick Brickley, Everbridge's CFO, added, "In the fourth quarter, our top line and profitability were buoyed by exceptional perpetual deliveries that we had forecasted for year-end as well as our strongest ARR growth performance for the year thanks to solid recurring bookings and strong renewals. With our business successfully realigned for stable, long-term growth and increased profitability, we are on track to meet our revenue and adjusted EBITDA forecast for 2023, and we believe we can achieve meaningful increases in profitability and cash flow in 2023 and beyond."
  • Outlook: Everbridge sees Q1 revenue of $106.3 million - $106.7 million, below the consensus of $107.88 million.
  • It sees non-GAAP EPS of $0.13, below the consensus of $0.22.
  • Everbridge expects FY23 revenue of $456 million - $462 million versus the consensus of $457.69 million.
  • It sees non-GAAP EPS of $1.48 - $1.52, above the consensus of $1.36.
  • Price Action: EVBG shares traded lower by 5.63% at $32.02 on the last check Wednesday.
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