Group revenue growth of 7% at constant currency
Next generation(1) billings(2) grew 43% at constant currency
OXFORD, United Kingdom, July 12, 2019 (GLOBE NEWSWIRE) -- Sophos Group plc (the “Group” / LSE: SOPH), a leading provider of next-generation cloud-enabled enduser and network cybersecurity solutions, today issues its trading update for the quarter-ended 30 June 2019 (“Q1 FY20”).
Financial highlights
Financial summary | |||||
Q1 FY20 | Q1 FY19 | Growth | |||
$M | $M | % | |||
Statutory measures | |||||
Revenue | 180.2 | 175.5 | 2.7 | ||
Profit / (Loss) before taxation | (4.0 | ) | 7.3 | nm | |
Net cash flow from operating activities | 54.4 | 40.4 | 34.7 | ||
Alternative performance measures | |||||
Billings | 183.1 | 174.9 | 4.7 | ||
Cash EBITDA | 26.6 | 20.3 | 31.0 | ||
Adjusted operating profit | 24.1 | 21.9 | 10.0 | ||
Unlevered free cash flow(8) | 55.6 | 39.6 | 40.4 | ||
Chief Executive Officer, Kris Hagerman, commented:
“This has been an encouraging start to the year which underpins our confidence in our prospects for the full year. The demand environment continues to be strong, and as we noted at the full-year, we believe we have a highly effective and differentiated next-generation security product portfolio that positions Sophos very well. Along with encouraging overall company growth, we saw significant continued growth in our next-generation products, including Sophos Central, Intercept X endpoint, XG Firewall, and our MSP business. Consequently, we believe we are well positioned for continued future growth.”
IFRS 16
The results for Q1 FY19 reflect the adoption of IFRS 16 “Leasing”. The impact is consistent with the expected impact disclosed in the Annual Report and Accounts for the year-ended 31 March 2019; though the Directors will continue to monitor industry practice and experience of implementation through the coming months and update their assessment of the impact on the Group if required.
About
As a worldwide leader in next-generation cybersecurity, Sophos protects nearly 400,000 organizations of all sizes in more than 150 countries from today’s most advanced cyberthreats. Powered by SophosLabs – a global threat intelligence and data science team – Sophos’ cloud-native and AI-enhanced solutions secure endpoints (laptops, servers and mobile devices) and networks against evolving cybercriminal tactics and techniques, including automated and active-adversary breaches, ransomware, malware, exploits, data exfiltration, phishing, and more. The award-winning Sophos Central cloud-based platform integrates Sophos’ entire portfolio of best-of-breed products, from the Intercept X endpoint solution to the XG Firewall, into a single system called Synchronized Security. Sophos products are exclusively available through a global channel of more than 47,000 partners and Managed Service Providers (“MSPs”). Sophos also makes its innovative commercial technologies available to consumers via Sophos Home. The company is headquartered in Oxford, U.K., and is publicly traded on the London Stock Exchange under the symbol “SOPH”. More information is available at www.sophos.com.
Forward-looking statements
Certain statements in this announcement constitute “forward-looking statements”. These forward-looking statements involve risks, uncertainties and other factors that may cause the Group’s actual results, performance or achievements, or industry results, to be materially different from those projected in the forward-looking statements. These factors include general economic and business conditions; changes in technology; timing or delay in signing, commencement, implementation and performance or programmes, or the delivery of products or services under them; structural change in the security industry; relationships with customers; competition; and ability to attract personnel. You are cautioned not to rely on these forward-looking statements, which speak only as of the date of this announcement. The Group undertakes no obligation to update or revise any forward-looking statement to reflect any change in expectations or any change in events, conditions or circumstances.
For the full report, please go to Sophos’ Investor page on Sophos.com.
Contact
Sophos Group plc Tel: +44 (0) 1235 559 933 Kris Hagerman, Chief Executive Officer Nick Bray, Chief Financial Officer Derek Brown, Vice President Investor Relations | Financial Public Relations James Macey White / Mat Low Tulchan Communications Tel: +44 (0) 20 7353 4200 |
End Notes