Overview
- Fiscal Q4 revenue was $271.2 million with adjusted earnings of $0.07 per share, while the GAAP loss totaled $110.2 million.
- Full-year revenue topped about $1 billion with a net loss of $450.7 million, and ARR rose 22% to $1.119 billion with a record $64 million in net new ARR in Q4.
- Guidance calls for Q1 revenue of $276 million to $278 million and adjusted EPS of $0.01 to $0.02, with FY2027 revenue of $1.195 billion to $1.21 billion and non-GAAP operating income of $110 million to $120 million.
- Shares fell after the report and outlook, and analysts offered mixed reactions, including a Scotiabank price objective cut to $15 and Buy ratings maintained by Cantor Fitzgerald and Needham with trimmed targets.
- Competitive pressure from CrowdStrike, Palo Alto Networks, and Microsoft’s bundled security, plus concerns about AI commoditization and an incoming CFO, shaped a cautious tone despite progress with Singularity, Purple AI, and a new Cloudflare partnership.