MobileIron (MOBL) Misses Q4 EPS by 8c, Revenues Miss; Offers Q1 & FY20 Revenue Guidance Below Consensus

MobileIron (NASDAQ: MOBL) reported Q4 EPS of ($0.04), $0.08 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $54.1 million versus the consensus estimate of $55.48 million.

Fourth Quarter 2019 Financial Highlights

• Revenue was $54.1 million, flat year-over-year.
• ARR was $179.5 million, up 10% year-over-year.​

“Despite continued headwinds in Europe, I am pleased that the team delivered on our revenue and ARR guidance,” said Simon Biddiscombe, CEO, MobileIron. “As we move into 2020, MobileIron will complete its transition to a subscription-led business. By the middle of this year we will only sell our new seats in subscription form and stop selling perpetual licenses. MobileIron has led the market in delivering solutions that leverage and complement our strong UEM foundation – from Access to Threat Defense to zero sign on – and that innovation is only delivered through the cloud. With a focus on helping maintenance customers migrate to the cloud in 2020, MobileIron will drive cloud adoption to ensure our customers have seamless access to our latest breakthroughs to secure them in the zero trust world.”

GUIDANCE:

MobileIron sees Q1 2020 revenue of $46-49 million, versus the consensus of $49.87 million.

MobileIron sees FY2020 revenue of $195-205 million, versus the consensus of $218.05 million.

The company is providing the following outlook for its first quarter 2020 (ending March 31, 2020):

• Revenue is expected to be between $46 million and $49 million, for a decline of 4% to up 2% year-over-year.
• Non-GAAP gross margin is expected to be approximately 78%.
• Non-GAAP operating expenses are expected to be between $45 million and $46 million.

The company is providing the following outlook for 2020 (ending December 31, 2020):

• ARR is expected to grow between 12% and 16% by year end, where growth in the first half will be closer to 10%.
• Revenue is expected to be between $195 million and $205 million, for a decline of 5% to flat over 2019.
• Non-GAAP operating margin is expected to be between negative 5% and negative 10%.

For earnings history and earnings-related data on MobileIron (MOBL) click here.

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