Imperva, Inc. (IMPV) Tops Q1 EPS by 5c, Offers Guidance

Imperva, Inc. (NYSE: IMPV) reported Q1 EPS of ($0.36), $0.05 better than the analyst estimate of ($0.41). Revenue for the quarter came in at $31.5 million versus the consensus estimate of $31.73 million.

Business Outlook

The following forward-looking statements reflect expectations as of May 1, 2014. Results may be materially different and could be affected by the factors detailed in this press release and in recent Imperva SEC filings.

Second Quarter Expectations – Ending June 30, 2014

Imperva expects total revenue for the second quarter of 2014 to be in the range of $33.0 million to $36.0 million, representing growth in the range of 5% to 15% compared to the same period in 2013. The company expects in the second quarter of 2014 non-GAAP gross margins of approximately 78%. Further, Imperva expects in the second quarter of 2014 non-GAAP operating loss to be in the range of $(9.0) million to $(11.5) million and non-GAAP net loss to be in the range of $(9.5) million to $(12.0) million, or a loss of $(0.37) to $(0.47) per share based on approximately 25.5 million weighted average shares, which excludes stock-based compensation, amortization of intangibles and acquisition-related expenses.

Full Year Expectations –Ending December 31, 2014

Imperva expects total revenue for 2014 to be in the range of $150.0 million to $160.0 million, or up 9% to 16% compared to 2013. Imperva expects 2014 non-GAAP gross margins of approximately 79%. Further, the company expects 2014 non-GAAP operating loss to be in the range of $(24.0) million to $(32.0) million and non-GAAP net loss to be in the range of $(25.0) million to $(33.0) million, or a loss of $(0.94) to $(1.25) per share based on approximately 26.5 million weighted average shares, which excludes stock-based compensation, amortization of intangibles and acquisition-related expenses. Imperva expects capital expenditures for the full year to be in the range of $3.5 million to $4.5 million. Finally, the company expects to generate negative cash flows from operations in 2014.

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For earnings history and earnings-related data on Imperva, Inc. (IMPV) click here.

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