Cyren (CYRN) Tops Q2 EPS by 2c, Revenues Beat

Cyren (NASDAQ: CYRN) reported Q2 EPS of ($0.07), $0.02 better than the analyst estimate of ($0.09). Revenue for the quarter came in at $9.2 million versus the consensus estimate of $8.69 million.

"We are extremely pleased with our financial results during the second quarter," said Lior Samuelson, CEO and Chairman of the Board at Cyren. "It's rewarding to see that our hard work and product innovation translated to record revenue growth during the quarter. We look forward to a strong second half of 2018."

Second Quarter 2018 Financial Highlights:

• Revenues for the second quarter of 2018 were $9.2 million, compared to $7.8 million during the second quarter of 2017, and $7.6 million last quarter. This translates to an increase of 18% year-over-year and 20% quarter-over-quarter.
• GAAP net loss for the second quarter of 2018 was $4.3 million, compared to a net loss of $2.5 million in the second quarter of 2017, and $5.3 million last quarter.
• GAAP loss per basic and diluted share for the second quarter of 2018 was $0.08, compared to a loss of $0.06 per basic and diluted share for the second quarter of 2017, and $0.10 last quarter.
• Non-GAAP net loss for the second quarter of 2018 was $3.7 million, compared to a Non-GAAP net loss of $2.3 million for the second quarter of 2017, and $4.9 million last quarter.
• Non-GAAP loss per basic and diluted share was $0.07 for the second quarter of 2018, compared to a Non-GAAP loss of $0.06 per share in second quarter of 2017, and $0.09 last quarter.
• Operating cash flow during the second quarter of 2018 was $0.9 million, compared to operating cash usage of $1.8 million during the second quarter of 2017.
• Net cash flow for the second quarter of 2018 was negative $1.3 million, compared to negative $2.0 million during the second quarter of 2017.
• Cash balance as of June 30, 2018 was $16.6 million, compared to $11.6 million as of June 30, 2017.

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Star Equity to acquire Harte Hanks for $5.00 per share