CYREN (CYRN) Misses Q4 EPS by 1c

CYREN (NASDAQ: CYRN) reported Q4 EPS of ($0.09), $0.01 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $7.5 million versus the consensus estimate of $7.71 million.

• Cash balance as of December 31, 2017 was $24.0 million, compared to $10.6 million as of December 31, 2016. The cash balance at year end includes net proceeds from the Warburg Pincus private placement which closed in November. Moving forward, Cyren expects to make additional investments in R&D, Sales and Marketing in order to accelerate our product roadmap and increase enterprise sales throughout 2018.
• The convertible notes, previously on the balance sheet since being issued in March 2017, were automatically converted into approximately 3.5 million shares upon the completion of the Warburg Pincus tender offer. At year end, Cyren had approximately 53.4 million shares outstanding, and currently has no outstanding debt.

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

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