Good Technology Corp. Files $100M IPO
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Good Technology Corporation filed a registration with the U.S. Securities and Exchange Commission for an Initial Public Offering of Common Stock. The proposed maximum offering price is $100 million.
The offering is being made via Morgan Stanley, Barclays, BofA/Merrill Lynch, Citigroup, and Oppenheimer & Co.
Brief financial summary from the company:
In 2011, 2012 and 2013, our recurring billings, a non-GAAP financial measure, were $34.2 million, $71.8 million and $85.5 million, respectively, representing 23.2% of total billings for 2011, 36.5% of total billings for 2012 and 44% of total billings for 2013. In 2011, 2012 and 2013, we generated recurring revenues of $7.1 million, $19.8 million and $46.7 million, respectively, representing year-over-year growth of 128% for 2011, 178% for 2012 and 136% for 2013. In 2011, 2012 and 2013, we generated total revenues of $85.3 million, $116.6 million and $160.4 million, respectively, representing year-over-year growth of 30% for 2011, 37% for 2012 and 38% for 2013. Our net losses were $41.0 million, $90.4 million and $118.4 million in 2011, 2012 and 2013, respectively.
Good Technology's mission is to ensure secure access to applications and data from any device, anywhere, anytime.
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