Cyren (CYRN) Reports Q4 Loss of $0.07, Revenues Miss

Cyren (NASDAQ: CYRN) reported Q4 EPS of ($0.07), versus ($0.09) reported last year. Revenue for the quarter came in at $9.5 million versus the consensus estimate of $9.8 million.

• Revenues for the fourth quarter of 2018 were $9.5 million, compared to $7.5 million for the fourth quarter of 2017.
• Revenues for the year ended December 31, 2018 were $35.9 million compared to $30.8 million for fiscal year 2017.
• GAAP net loss for the fourth quarter of 2018 was $5.6 million, compared to a net loss of $7.2 million in the fourth quarter of 2017.
• GAAP net loss for the year ended December 31, 2018 was $19.4 million, compared to $15.6 million for 2017.
• GAAP loss per basic and diluted share for the fourth quarter of 2018 was $0.10, compared to a loss of $0.16 for the fourth quarter of 2017. For the full year 2018, GAAP loss per basic and diluted share was $0.36, compared to a loss of $0.38 for full year 2017.
• Non-GAAP net loss for the fourth quarter of 2018 was $4.4 million, compared to a Non-GAAP net loss of $4.3 million for the fourth quarter of 2017.
• Non-GAAP net loss for the full year 2018 was $16.1 million, compared to a Non-GAAP net loss of $12.4 million for the year ended 2017.
• Non-GAAP loss per basic and diluted share was $0.07 for the fourth quarter of 2018, compared to a Non-GAAP loss of $0.09 in fourth quarter of 2017. Non-GAAP loss per basic and diluted share was $0.29 for full year 2018, compared to $0.29 during full year 2017.
• Cash balance as of December 31, 2018 was $17.6 million, compared to $24.0 million as of December 31, 2017. The cash balance at year end includes net proceeds of $10 million from 3-year convertible notes which were issued in November.

"We are pleased with our fourth quarter performance that tops off a record breaking year for Cyren," said Lior Samuelson, Chairman and CEO of Cyren. "During the quarter, we brought a number of new enterprise customers onto the Cyren Cloud Security platform, and renewed contracts with two of our largest customers using our Threat Intelligence Services. Throughout 2018, we had a number of significant achievements including signing our largest CCS enterprise customer, with over 100,000 active email accounts, and the largest contract in our company's history. We plan on launching some exciting new enterprise products over the coming two quarters, and are looking forward to continued progress in 2019."

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

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