Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe


FireEye Shares Gain 20% on Record Q2 Revenue and Strong FY Outlook

Share on Stocktwits


Shares of FireEye Inc. traded higher after the company reported Q2/20 financial results that included a 6% growth in revenue along with positive FY/20 forward guidance.

FireEye Inc. (FEYE:NASDAQ), which provides solutions that help organizations prepare for, prevent, respond to and fend off cyber-attacks, yesterday announced financial results for the second quarter ended June 30, 2020.

The firm reported that in Q2/20 revenue increased by 6% to $229.9 million, compared to $217.6 million in Q2/19. The company also reported a lower net loss in Q2/20 of $53.28 million, or $0.24 per share, versus a net loss of $67.32 million, or $0.33 per share in Q2/19.

The company's CEO Kevin Mandia commented, "The steps we have taken to accelerate our transformation to a security-as-a-service company resulted in record second quarter revenue and our highest ever non-GAAP profitability...Growing adoption of our validation platform, cloud-based security products and intelligence solutions, combined with improved net retention in our appliance-based security controls business, drove annualized recurring revenue to record levels."

"Cyber security remains a top spending priority for organizations worldwide, and the uncertainty of the current environment is creating opportunities for solutions that allow customers to purchase exactly what they need, when they need it... We know more about cyber threats and threat actors than any other company in our industry, and we continue to invest in solutions that make our knowledge and expertise available on demand and immediately actionable for our customers," CEO Mandia added.

The company additionally provided some forward guidance for Q3/20 and FY/20. The firm advised that for Q3/20 it expects revenue of $225-229 million and non-GAAP net income per diluted share of $0.06-0.08. FireEye also noted that for FY/20, it expects revenue of $ $905-925 million and non-GAAP net income per diluted share of $0.22-0.26.

FireEye is based in Milpitas, Calif., and is an intelligence-led security company that helps companies and organizations identify and fight off cyber-attacks. The firm stated it provides products and services to more than 9,300 clients in more than 100 countries including more than 50% of the Forbes Global 2000. The company's products include threat detection and prevention solutions, e-mail security products, security management and forensic investigational products. In addition, FireEye offers subscription services for threat intelligence, security-as-a-service and general customer maintenance and support.

FireEye started the day with a market capitalization of around $3.0 billion with approximately 222.8 million shares outstanding and a short interest of about 8.4%. FEYE shares opened 12% higher today at $14.99 (+$1.61, +12.03%) over yesterday's $13.38 closing price. The stock has traded today between $14.735 and $16.28 per share and is currently trading at $16.18 (+$2.80, +20.93%).


1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Want to read more about Special Situations and Technology investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe