CYREN (CYRN) Misses Q1 EPS by 1c, Miss on Revenues

CYREN (NASDAQ: CYRN) reported Q1 EPS of ($0.06), $0.01 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $8 million versus the consensus estimate of $8.15 million.

First Quarter 2017 Financial Highlights:

• Revenues for the first quarter of 2017 were $8.0 million, up 8% from $7.4 million for the first quarter of 2016.
• GAAP net loss for the first quarter of 2017 was $2.5 million, compared to a net loss of $1.5 million in the first quarter of 2016 and $2.9 million in the fourth quarter of 2016.
• GAAP loss per basic and diluted share for the first quarter of 2017 was $0.06, compared to a loss of $0.04 per basic and diluted share for the first quarter of 2016 and $0.07 per share in the fourth quarter of 2016.
• Non-GAAP net loss for the first quarter of 2017 was $2.4 million, compared to a Non-GAAP net loss of $1.9 million for the first quarter of 2016 and $1.9 million in the fourth quarter of 2016.
• Non-GAAP loss per basic and diluted share was $0.06 for the first quarter of 2017, compared to a Non-GAAP loss of $0.05 per share in first quarter of 2016.
• Operating cash usage during the first quarter was $1.9 million, compared to operating cash flow of $2.9 million in the first quarter of 2016.
• Net cash flow during the first quarter was $2.9 million, compared to net cash usage of $2.4 million during the first quarter of 2016. This includes $6.3 million aggregate proceeds from financing activies resulting from a convertible note offering that closed March 27, 2017.
• Cash balance as of March 31, 2017 was $13.5 million, compared to $10.6 million as of December 31, 2016. The company now has $6.3 million long-term debt on its balance sheet as a result of the convertible note offering.

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

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