CYREN (CYRN) Misses Q2 EPS by 1c, Miss on Revenues

CYREN (NASDAQ: CYRN) reported Q2 EPS of ($0.06), $0.01 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $7.8 million versus the consensus estimate of $8.1 million.

Second Quarter 2017 Financial Highlights:

• Revenues for the second quarter of 2017 were $7.8 million, up from $7.6 million for the second quarter of 2016. Revenues for the first half of 2017 were $15.7 million compared to $15.0 million for the same period in 2016, an increase of 5%.
• GAAP net loss for the second quarter of 2017 was $2.7 million, compared to a net loss of $0.8 million in the second quarter of 2016 and $2.5 million last quarter.
• GAAP loss per basic and diluted share for the second quarter of 2017 was $0.07, compared to a loss of $0.02 per basic and diluted share for the second quarter of 2016 and $0.06 per share last quarter.
• Non-GAAP net loss for the second quarter of 2017 was $2.5 million, compared to a Non-GAAP net loss of $0.2 million for the second quarter of 2016 and $2.4 million last quarter.
• Non-GAAP loss per basic and diluted share was $0.07 for the second quarter of 2017, compared to a Non-GAAP loss of $0.00 per share in second quarter of 2016.
• Operating cash usage during the second quarter was $1.8 million, compared to operating cash usage of $0.2 million in the second quarter of 2016.
• Net cash usage during the second quarter was $2.0 million, compared to net cash usage of $1.1 million during the second quarter of 2016.
• Cash balance as of June 30, 2017 was $11.6 million, compared to $13.5 million as of March 31, 2017. The company carries convertible notes with a principal balance of $6.3 million which were issued at the end of Q1 2017.

For earnings history and earnings-related data on CYREN (CYRN) click here.

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