MobileIron (MOBL) Reports In-Line Q1 EPS, Revenues Beat; Offers 2Q & FY20 Revenue Mid-Point Guidance Above Consensus

MobileIron (NASDAQ: MOBL) reported Q1 EPS of ($0.06), in-line with the analyst estimate of ($0.06). Revenue for the quarter came in at $49.7 million versus the consensus estimate of $47.83 million.

First Quarter 2020 Financial Highlights

• Revenue was $49.7 million, up 3% year-over-year.
• ARR was $180.8 million, up 8% year-over-year.
• Cash generated in operating activities was $7.2 million.
• Cash and equivalents were up $4.2 million in the quarter to $98.6 million.

“In the face of this global pandemic, I am thankful that our team is safe and well and I would like to extend my deepest gratitude to the healthcare workers on the front lines for their efforts to fight this virus and keep all of us safe. I am exceedingly proud of MobileIron’s agility and commitment to our customers as we quickly pivoted to meet the security demands of a worldwide transition to remote work,” said Simon Biddiscombe, CEO, MobileIron. “Despite the challenges, we delivered solid results and controlled costs to outperform our guidance for revenue, gross margin and operating expenses. While the disruption from remote work has slowed certain go-to-market activities in the near term, we believe that it has ushered in a new chapter of enterprise infrastructure transformation. Our product suite is the ideal cornerstone for managing and protecting remote employees in a zero trust world and I am confident MobileIron will emerge from this pandemic with an even more strategic role in securing the global workforce.”

GUIDANCE:

MobileIron sees Q2 2020 revenue of $49-52 million, versus the consensus of $49.59 million.

MobileIron sees FY2020 revenue of $195-205 million, versus the consensus of $196.46 million.

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

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