MobileIron Announces First Quarter 2020 Results

MOUNTAIN VIEW, Calif.--()--MobileIron (NASDAQ: MOBL) today announced results for its first quarter ended March 31, 2020.

First Quarter 2020 Financial Highlights

  • Revenue was $49.7 million, up 3% year-over-year.
  • ARR was $180.8 million, up 8% year-over-year.
  • Cash generated in operating activities was $7.2 million.
  • Cash and equivalents were up $4.2 million in the quarter to $98.6 million.

“In the face of this global pandemic, I am thankful that our team is safe and well and I would like to extend my deepest gratitude to the healthcare workers on the front lines for their efforts to fight this virus and keep all of us safe. I am exceedingly proud of MobileIron’s agility and commitment to our customers as we quickly pivoted to meet the security demands of a worldwide transition to remote work,” said Simon Biddiscombe, CEO, MobileIron. “Despite the challenges, we delivered solid results and controlled costs to outperform our guidance for revenue, gross margin and operating expenses. While the disruption from remote work has slowed certain go-to-market activities in the near term, we believe that it has ushered in a new chapter of enterprise infrastructure transformation. Our product suite is the ideal cornerstone for managing and protecting remote employees in a zero trust world and I am confident MobileIron will emerge from this pandemic with an even more strategic role in securing the global workforce.”

 

 

 

 

 

 

 

 

ARR Composition

 

 

 

 

 

 

 

March 31,

 

(in millions, except percentages)

 

2019

 

2020

 

Total ARR

 

$

167.2

 

$

180.8

 

Year-over-year percentage increase

 

 

18

%

 

8

%

Subscription ARR

 

$

100.4

 

$

115.3

 

Year-over-year percentage increase

 

 

29

%

 

15

%

Perpetual license support ARR

 

$

66.8

 

$

65.5

 

Year-over-year percentage increase

 

 

3

%

 

(2)

%

 

Financial Outlook

The company is providing the following outlook for its second quarter 2020 (ending June 30, 2020):

  • Revenue is expected to be between $49 million and $52 million, approximately flat year-over-year at the midpoint.
  • ARR is expected to be between $181 million and $185 million at the end of the quarter, for growth of 5% to 8% year over year.
  • Non-GAAP gross margin is expected to be approximately 79%.
  • Non-GAAP operating expenses are expected to be approximately $43 million.

With work from home mandates around the globe due to COVID-19, MobileIron is facing headwinds to certain ARR growth drivers in the near term. Therefore, the company has decided to withdraw its full year guidance for ARR. MobileIron is providing the following outlook for 2020 (ending December 31, 2020):

  • Revenue is expected to be between $195 million and $205 million, for a decline of 5% to flat over 2019.
  • Non-GAAP operating margin is expected to be between negative 5% and negative 10%.

 

First Quarter 2020 Business Highlights

Milestones and Recognition

  • Announced unlimited enrollment of new frontline users and devices in MobileIron’s UEM platform at no additional cost through June 15, 2020, enabling critical mobile apps and data for frontline responders in healthcare, disaster recovery and law enforcement.
  • Announced the acquisition of incapptic Connect, a leader in mobile app release software. This synergistic combination creates a turnkey solution allowing IT departments to publish apps and automatically deploy them to the workforce’s mobile devices using UEM technology.
  • Featured prominently in the book “Cyber Warfare – Truth, Tactics, and Strategies: Strategic concepts and truths to help you and your organization survive on the battleground of cyber warfare” by Dr. Chase Cunningham.

Platform

  • Announced integration with IDEMIA to provide support for eSIM-enabled Windows 10 enterprise devices. Organizations will be able to onboard, configure and manage eSIM-enabled Windows 10 devices as part of their established unified endpoint management (UEM) infrastructure, simplifying the entire device lifecycle.
  • Announced integration with Teamwire to offer secure encryption of business communications with an intuitive messaging app, allowing organizations to deliver fast, easy and secure enterprise messaging across their entire mobile infrastructure for improved employee productivity and team communication.
  • Announced partnership with Adeya for rapid management and deployment of their end-to-end encrypted communication, collaboration and file-sharing solution through MobileIron’s UEM platform, delivering compliant, encrypted and secure mobile solutions for enterprises of all sizes.

All forward-looking non-GAAP financial measures contained in this section exclude estimates for stock-based compensation expense, amortization of intangible assets and restructuring expense. We do not provide a reconciliation of forward-looking non-GAAP financial measures to corresponding GAAP measures due to our inability to project certain charges and expenses. The company has provided a reconciliation of GAAP to non-GAAP financial measures in the financial statement tables included in this press release for its first quarter of 2019 and 2020.

Conference Call and Webcast

MobileIron will report final results for the first quarter of fiscal year 2020 on Wednesday, April 29, 2020 after the close of the market and host a conference call and live webcast at 1:30 p.m. Pacific Time (4:30 p.m. ET) to discuss the company's financial results, product announcements and business highlights. Interested parties may access the call by dialing 1-866-602-7050 in the U.S. or 1-409-216-6455 from international locations (conference ID #1894273). The live webcast will be available on the MobileIron Investor Relations website at http://investors.mobileiron.com. A replay will be available through the same link.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements contain words such as “may,” “will,” “might,” “expect,” “believe,” “anticipate,” “could,” “would,” “estimate,” “continue,” “pursue,” or the negative thereof or comparable terminology, and may include (without limitation) information regarding our expectations, goals or intentions regarding future performance. Forward-looking statements in this press release include, but are not limited to, statements regarding MobileIron's revenue, operating expenses, ARR, the timing for moving to a subscription-led business and ceasing perpetual licenses, cost structure, GAAP and non-GAAP financial metrics, as well as statements that we expect to continue to see progress migrating customers to the cloud, that we believe we are ideally poised to capitalize on the market of IT departments shifting to address the threats of a Zero Trust world, that we will continue to deliver a roadmap of innovation to strengthen our security framework while enhancing the user’s experience, that our continued focus on market-leading innovation and customer satisfaction will continue to propel us on our upward growth trajectory, that the MobileIron team will emerge from the pandemic with an even more strategic role in securing the global workforce, and all statements under the heading “Financial Outlook.” Forward-looking statements involve certain risks and uncertainties, and there are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including, but not limited to, COVID-19 and the duration of orders around the globe requiring people to work from home, our limited operating history, the adoption by our customers of our subscription-led model, quarterly fluctuations in our operating results, one-time expenses, including restructuring charges, seasonality, our need to develop new solutions and enhancements to compete in rapidly evolving markets, product defects, strength of our intellectual property portfolio, litigation, customer adoption, competitive pressures, billings type mix shift, our ability to scale, our ability to recruit and retain key personnel, and the quality of our support services.

Additional information on potential factors that could affect MobileIron's financial results is included in our SEC filings, including our reports on Forms 10-K, 10-Q and 8-K and other filings that we make with the SEC from time to time. All forward-looking statements in this press release are made as of the date hereof, based on information available to us as of the date hereof, and MobileIron does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

Disclosure Information

MobileIron uses the investor relations section on its website as the means of complying with its disclosure obligations under Regulation FD. Accordingly, we recommend that investors should monitor MobileIron’s investor relations website in addition to following MobileIron’s press releases, SEC filings, and public conference calls and webcasts.

About MobileIron

MobileIron is redefining enterprise security with its mobile-centric, zero trust platform built on the foundation of unified endpoint management (UEM) to secure access and protect data across the perimeter-less enterprise. Zero trust assumes that bad actors are already in the network and secure access is determined by a “never trust, always verify” approach. MobileIron goes beyond identity management and gateway approaches by utilizing a more comprehensive set of attributes before granting access. A mobile-centric, zero trust approach validates the device, establishes user context, checks app authorization, verifies the network, and detects and remediates threats before granting secure access to a device or user.

The MobileIron security platform is built on the foundation of award-winning and industry-leading unified endpoint management (UEM) capabilities with additional zero trust-enabling technologies, including zero sign-on (ZSO), multi-factor authentication (MFA), and mobile threat defense (MTD). Over 20,000 customers, including the world’s largest financial institutions, intelligence agencies and other highly regulated companies, have chosen MobileIron to enable a seamless and secure user experience by ensuring only authorized users, devices, apps, and services can access business resources.

"MobileIron" is a registered trademark of MobileIron, Inc. in the United States and other countries. Trade names, trademarks, and service marks of other companies that are used in this press release belong to their respective owners.

Financial Results

 

 

 

 

 

 

 

MOBILEIRON, INC.

CONSOLIDATED BALANCE SHEETS

AS OF DECEMBER 31, 2019 AND MARCH 31, 2020

(Amounts in thousands)

(Unaudited)

 

 

 

 

 

 

 

 

 

 

December 31, 2019

 

 

March 31, 2020

Assets

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

Cash and cash equivalents

 

$

94,415

 

$

98,583

Accounts receivable - net

 

 

58,815

 

 

37,694

Deferred commissions - current

 

 

9,825

 

 

9,102

Prepaid expenses and other current assets

 

 

11,965

 

 

14,043

Total current assets

 

 

175,020

 

 

159,422

Property and equipment - net

 

 

4,804

 

 

4,066

Operating lease right-of-use assets

 

 

13,683

 

 

12,564

Deferred commissions - noncurrent

 

 

8,077

 

 

7,863

Goodwill

 

 

5,475

 

 

5,475

Other assets

 

 

5,371

 

 

4,803

Total assets

 

$

212,430

 

$

194,193

 

 

 

 

 

 

 

Liabilities and stockholders' equity

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

Accounts payable

 

$

1,310

 

$

1,229

Accrued expenses

 

 

24,792

 

 

15,081

Lease liabilities - current

 

 

5,664

 

 

5,277

Unearned revenue - current

 

 

85,153

 

 

84,461

Customer arrangements with termination rights

 

 

16,130

 

 

13,463

Total current liabilities

 

 

133,049

 

 

119,511

Lease liabilities - noncurrent

 

 

10,088

 

 

8,786

Unearned revenue - noncurrent

 

 

33,058

 

 

29,577

Other long-term liabilities

 

 

237

 

 

131

Total liabilities

 

 

176,432

 

 

158,005

Stockholders’ equity:

 

 

 

 

 

 

Common stock

 

 

11

 

 

12

Additional paid-in capital

 

 

504,041

 

 

517,575

Treasury stock

 

 

(15,141)

 

 

(15,825)

Accumulated deficit

 

 

(452,913)

 

 

(465,574)

Total stockholders’ equity

 

 

35,998

 

 

36,188

 

 

 

 

 

 

 

Total liabilities and stockholders' equity

 

$

212,430

 

$

194,193

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MOBILEIRON, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE MONTHS ENDED MARCH 31, 2019 AND 2020

(Amounts in thousands, except for per share data)

(Unaudited)

 

 

Three Months Ended

 

 

March 31, 2019

 

March 31, 2020

Revenue:

 

 

 

 

 

 

Cloud services

 

$

15,261

 

$

18,634

License

 

 

11,371

 

 

9,010

Software support and services

 

 

21,450

 

 

22,054

Total revenue

 

 

48,082

 

 

49,698

Cost of revenue:

 

 

 

 

 

 

Cloud services (1)

 

 

4,710

 

 

6,057

License

 

 

554

 

 

459

Software support and services (1)

 

 

5,023

 

 

4,356

Restructuring expense

 

 

76

 

 

-

Total cost of revenue

 

 

10,363

 

 

10,872

Gross profit

 

 

37,719

 

 

38,826

Operating expenses:

 

 

 

 

 

 

Research and development (1)

 

 

21,829

 

 

18,993

Sales and marketing (1)

 

 

24,487

 

 

24,133

General and administrative (1)

 

 

7,919

 

 

7,233

Restructuring expense

 

 

539

 

 

579

Total operating expenses

 

 

54,774

 

 

50,938

Operating loss

 

 

(17,055)

 

 

(12,112)

Other income (expense) - net

 

 

412

 

 

(108)

Loss before income taxes

 

 

(16,643)

 

 

(12,220)

Income tax expense

 

 

457

 

 

441

Net loss

 

$

(17,100)

 

$

(12,661)

Net loss per share, basic and diluted

 

$

(0.16)

 

$

(0.11)

Weighted-average shares used to compute net loss per share, basic and diluted

 

 

107,352

 

 

113,957

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1) Includes stock-based compensation expense as follows:

 

 

 

 

 

 

Cost of revenue

 

 

 

 

 

 

License

 

$

-

 

$

-

Cloud services

 

 

612

 

 

375

Software support and services

 

 

929

 

 

523

Research and development

 

 

4,111

 

 

3,059

Sales and marketing

 

 

2,274

 

 

2,073

General and administrative

 

 

2,364

 

 

1,543

 

 

$

10,290

 

$

7,573

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MOBILEIRON, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE THREE MONTHS ENDED MARCH 31, 2019 AND 2020

(Amounts in thousands)

(Unaudited)

 

 

Three Months Ended

 

 

March 31, 2019

 

March 31, 2020

 

 

 

 

 

 

 

Cash flows from operating activities:

 

 

 

 

 

 

Net loss

 

$

(17,100)

 

$

(12,661)

Adjustments to reconcile net loss to net cash provided by operating activities:

 

 

 

 

 

 

Stock-based compensation expense

 

 

10,290

 

 

7,573

Depreciation

 

 

932

 

 

863

Changes in operating assets and liabilities:

 

 

 

 

 

 

Accounts receivable

 

 

22,821

 

 

21,121

Deferred commissions

 

 

(35)

 

 

937

Other current and noncurrent assets

 

 

(2,647)

 

 

(398)

Accounts payable

 

 

186

 

 

(101)

Unearned revenue

 

 

(2,958)

 

 

(4,172)

Customer arrangements with termination rights

 

 

(2,184)

 

 

(2,667)

Accrued expenses and other long-term liabilities

 

 

(1,489)

 

 

(3,328)

Net cash provided by operating activities

 

 

7,816

 

 

7,167

 

 

 

 

 

 

 

Cash flows from investing activities:

 

 

 

 

 

 

Purchase of property and equipment

 

 

(177)

 

 

(93)

Proceeds from maturities of investment securities

 

 

1,000

 

 

-

Purchases of investment securities

 

 

(546)

 

 

-

Net cash provided by (used in) investing activities

 

 

277

 

 

(93)

 

 

 

 

 

 

 

Cash flows from financing activities:

 

 

 

 

 

 

Proceeds from employee stock purchase plan

 

 

953

 

 

837

Taxes paid for net settlement of equity awards

 

 

(4,409)

 

 

(3,182)

Proceeds from exercise of stock options

 

 

798

 

 

123

Repurchase of common stock

 

 

(3,601)

 

 

(684)

Net cash used in financing activities

 

 

(6,259)

 

 

(2,906)

 

 

 

 

 

 

 

Net change in cash and cash equivalents

 

 

1,834

 

 

4,168

Cash and cash equivalents at beginning of period

 

 

104,613

 

 

94,415

Cash and cash equivalents at end of period

 

$

106,447

 

$

98,583

Non-GAAP Financial Measures and Reconciliations and Other Metrics

Non-GAAP Financial Measures

To supplement our financial results presented on a U.S. GAAP basis, we provide investors with certain non-GAAP financial measures, including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss, non-GAAP operating margin, non-GAAP net loss, non-GAAP net loss per share and free cash flow. These non-GAAP financial measures exclude stock-based compensation and restructuring expense.

Stock-based compensation expenses: In our non-GAAP financial measures, we have excluded the effect of stock-based compensation expenses. We exclude stock-based compensation expense because it is non-cash in nature and excluding this expense provides meaningful supplemental information regarding our operational performance. In particular, because of varying available valuation methodologies, subjective assumptions and the variety of award types that companies can use under FASB ASC Topic 718, we believe that providing non-GAAP financial measures that exclude this expense allows investors the ability to make more meaningful comparisons between MobileIron operating results and those of other companies. Stock-based compensation expenses will recur in future periods.

Restructuring expense: In our non-GAAP financial measures, we have excluded the effect of severance and other expenses related to reductions in our workforce. Restructuring expense may recur in the future; however, the timing and amounts are difficult to predict.

Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss, non-GAAP operating margin, non-GAAP net loss, and non-GAAP net loss per share: We believe that the exclusion of stock-based compensation expense and restructuring expense from various non-GAAP financial metrics such as gross profit, gross margin, operating loss, operating margin, net loss, and net loss per share provides useful measures for management and investors. Stock-based compensation and restructuring expense have been and can continue to be inconsistent in amount from period to period. We believe the inclusion of these items makes it difficult to compare periods and understand the growth and performance of our business. In addition, we evaluate our business performance and compensate management based in part on these non-GAAP measures. There are limitations in using non-GAAP financial measures because the non-GAAP financial measures are not prepared in accordance with GAAP, may be different from non-GAAP financial measures used by our competitors and exclude expenses that may have a material impact on our reported financial results. Further, stock-based compensation expense has been and will continue to be for the foreseeable future a significant recurring expense in our business and an important part of the compensation provided to our employees.

Free cash flow: Our non-GAAP financial measures also include free cash flow, which we define as cash provided by operating activities less the amount of property and equipment purchased. Management believes that information regarding free cash flow provides investors with an important perspective on the cash available to invest in our business and fund ongoing operations. However, our calculation of free cash flow may not be comparable to similar measures used by other companies.

We believe these non-GAAP financial measures are helpful in understanding our past financial performance and our future results. Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand, manage and evaluate our business, and make operating decisions. These non-GAAP measures are among the primary factors management uses in planning for and forecasting future periods. Compensation of our executives is based in part on the performance of our business relative to certain of these non-GAAP measures.

Other Metrics

Annual Recurring Revenue (ARR). Beginning with the fourth quarter of 2018, we began monitoring a new operating metric, Total ARR, which is defined as the annualized value of all recurring revenue contracts active at the end of a reporting period. Total ARR includes the annualized value of subscriptions (“Subscription ARR”) and the annualized value of software support contracts related to perpetual licenses (“Perpetual license support ARR”) active at the end of a reporting period and does not include revenue reported as perpetual license or professional services in our consolidated statement of operations. We are monitoring these metrics because they align with how our customers are increasingly purchasing our solutions and how we are managing our business. These ARR measures should be viewed independently of revenue, unearned revenue, and customer arrangements with termination rights as ARR is an operating metric and is not intended to be combined with or replace those items. ARR is not an indicator of future revenue and can be impacted by contract start and end dates and renewal rates.

 

 

 

 

 

 

 

 

MOBILEIRON, INC.

 

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

 

(Amounts in thousands, except for per share data and percentages)

 

(Unaudited)

 

 

 

Three Months Ended

 

 

 

March 31, 2019

 

March 31, 2020

 

 

 

 

 

 

 

 

 

Non-GAAP gross profit reconciliation:

 

 

 

 

 

 

 

GAAP gross profit

 

$

37,719

 

$

38,826

 

Stock-based compensation expenses

 

 

1,541

 

 

898

 

Restructuring expense

 

 

76

 

 

-

 

Non-GAAP gross profit

 

$

39,336

 

$

39,724

 

 

 

 

 

 

 

 

 

Non-GAAP gross margin reconciliation:

 

 

 

 

 

 

 

GAAP gross margin: GAAP gross profit over total revenue

 

 

78.4

%

 

78.1

%

GAAP to non-GAAP gross margin adjustments

 

 

3.4

%

 

1.8

%

Non-GAAP gross margin: Non-GAAP gross profit over total revenue

 

 

81.8

%

 

79.9

%

 

 

 

 

 

 

 

 

Non-GAAP operating loss reconciliation:

 

 

 

 

 

 

 

GAAP operating loss

 

$

(17,055)

 

$

(12,112)

 

Stock-based compensation expenses

 

 

10,290

 

 

7,573

 

Restructuring expense

 

 

615

 

 

579

 

Non-GAAP operating loss

 

$

(6,150)

 

$

(3,960)

 

 

 

 

 

 

 

 

 

Non-GAAP operating margin reconciliation:

 

 

 

 

 

 

 

GAAP operating margin: GAAP operating loss over total revenue

 

 

(35.5)

%

 

(24.4)

%

GAAP to non-GAAP operating margin adjustments

 

 

22.7

%

 

16.4

%

Non-GAAP operating margin: Non-GAAP operating income over total revenue

 

 

(12.8)

%

 

(8.0)

%

 

 

 

 

 

 

 

 

Non-GAAP net loss reconciliation:

 

 

 

 

 

 

 

GAAP net loss

 

$

(17,100)

 

$

(12,661)

 

Stock-based compensation expenses

 

 

10,290

 

 

7,573

 

Restructuring expense

 

 

615

 

 

579

 

Non-GAAP net loss

 

$

(6,195)

 

$

(4,509)

 

 

 

 

 

 

 

 

MOBILEIRON, INC.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(Amounts in thousands, except for per share data and percentages)

(Unaudited)

 

 

 

Three Months Ended

 

 

 

March 31, 2019

 

 

March 31, 2020

Non-GAAP net loss per share reconciliation:

 

 

 

 

 

 

GAAP net loss per share

 

$

(0.16)

 

$

(0.11)

Stock-based compensation expenses

 

 

0.10

 

 

0.07

Restructuring expense

 

 

-

 

 

-

Non-GAAP net loss per share

 

$

(0.06)

 

$

(0.04)

 

 

 

 

 

 

 

Free cash flow reconciliation:

 

 

 

 

 

 

Cash provided by operating activities

 

$

7,816

 

$

7,167

Purchase of property and equipment

 

 

(177)

 

 

(93)

Free cash flow

 

$

7,639

 

$

7,074

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

MOBILEIRON, INC.

 

SUPPLEMENTAL INFORMATION

 

(Amounts in thousands)

 

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

31-Mar-19

 

30-Jun-19

 

30-Sep-19

 

31-Dec-19

 

31-Mar-20

 

 

 

 

 

 

 

 

 

 

 

Annual Recurring Revenue:

 

 

 

 

 

 

 

 

 

 

Subscription ARR

$

100,421

$

106,115

$

108,559

$

113,895

$

115,326

Perpetual license support ARR

 

66,764

 

65,850

 

65,737

 

65,645

 

65,495

Total ARR

$

167,185

$

171,965

$

174,296

$

179,540

$

180,821

 

 

 

 

 

 

 

 

 

 

 

Revenue:

 

 

 

 

 

 

 

 

 

 

United States

$

19,612

$

21,861

$

23,376

$

21,866

$

21,133

International

 

28,470

 

29,004

 

28,825

 

32,222

 

28,565

Total revenue

$

48,082

$

50,865

$

52,201

$

54,088

$

49,698

 

 

 

 

 

 

 

 

 

 

 

Disaggregation of Revenue:

 

 

 

 

 

 

 

 

 

 

Cloud services

$

15,261

$

16,311

$

17,591

$

17,871

$

18,634

Upfront on-premise subscription

 

3,952

 

7,478

 

5,964

 

4,628

 

3,378

Ratable on-premise subscription

 

4,458

 

4,512

 

4,902

 

5,037

 

4,922

Software support on perpetual licenses

 

16,110

 

16,196

 

16,363

 

16,314

 

15,986

Recurring revenue

 

39,781

 

44,497

 

44,820

 

43,850

 

42,920

Perpetual license

 

7,419

 

4,749

 

6,252

 

9,027

 

5,633

Professional services

 

882

 

1,619

 

1,129

 

1,211

 

1,145

Non-recurring revenue

 

8,301

 

6,368

 

7,381

 

10,238

 

6,778

Total revenue

$

48,082

$

50,865

$

52,201

$

54,088

$

49,698

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP Metrics:

 

 

 

 

 

 

 

 

 

 

Non-GAAP gross profit

$

39,336

$

41,708

$

42,794

$

44,404

$

39,724

Non-GAAP operating income (loss)

$

(6,150)

$

(4,350)

$

173

$

1,638

$

(3,960)

Free cash flow

$

7,639

$

(5,091)

$

(6,197)

$

(275)

$

7,074

 

Contacts

Erik Bylin
MobileIron
ir@mobileiron.com
650-282-7555

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