LONDON, UK / ACCESSWIRE / January 09, 2018 / Active-Investors.com has just released a free earnings report on ForeScout Technologies, Inc. (NASDAQ: FSCT) ("ForeScout"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FSCT. The Company posted its financial results on December 07, 2017, for the third quarter fiscal 2017. The Company's revenue and adjusted EPS surpassed analysts' expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, ForeScout Technologies most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For three months ended September 30, 2017, ForeScout's total revenues increased 32% to $64.36 million from $48.74 million in Q3 FY16. The Company's revenues surpassed analysts' expectations of $63.98 million.
During Q3 FY17, the Company's product revenue increased 27% to $39.19 million on a y-o-y basis and maintenance and professional services revenue increased 40% to $25.16 million on a y-o-y basis.
For the reported quarter, the Company's gross profit increased 37.6% to $48.47 million from $35.23 million in Q3 FY16. During Q3 FY17, ForeScout's gross margin increased 300 basis points to 75.3% of revenue from 72.3% of revenue in Q3 FY16. For the reported quarter, the Company's adjusted gross profit increased 37.1% to $48.77 million from $35.56 million in Q3 FY16. During Q3 FY17, ForeScout's adjusted gross margin increased 290 basis points to 75.8% of revenue from 72.9% of revenue in Q3 FY16.
For the reported quarter, the Company's operating loss was $6.62 million compared to operating loss of $17.00 million in Q3 FY16. For the reported quarter, the Company's adjusted operating loss was $2.71 million compared to adjusted operating loss of $13.19 million in Q3 FY16.
During Q3 FY17, ForeScout's earnings before tax (EBT) was negative $6.75 million compared to negative $18.16 million in the same period last year.
For the reported quarter, ForeScout's net loss was $7.17 million compared to net loss of $18.31 million in Q3 FY16. During Q3 FY17, the Company's diluted EPS was negative $1.17 compared to negative $3.18 in the same period last year. During Q3 FY17, the Company's adjusted diluted EPS was negative $0.53 compared to negative $2.48 in the same period last year. Adjusted diluted EPS surpassed analysts' expectations of negative $0.89.
Balance Sheet
As on September 30, 2017, ForeScout's cash and cash equivalents decreased 9.2% to $72.34 million from $79.67 million on December 31, 2016.
For the reported quarter, the Company's accounts receivable increased 9.8% to $49.08 million from $44.69 million in Q4 FY16. For the reported quarter, the Company's accounts payable decreased 63.7% to $1.89 million from $5.21 million in Q4 FY16.
During Q3 FY17, the Company's net cash provided by operating activities was positive $2.31 million compared to negative $20.41 million in the same period last year. During Q3 FY17, the Company's free cash flow was positive $1.72 million compared to negative $26.27 million in the same period last year.
Outlook
For Q4 FY17, the Company expects revenue to be in the range of $61 million to $63 million and estimates adjusted diluted EPS to be in the range of negative $0.39 to negative $0.32.
For FY17, the Company expects revenue to be in the range of $216 million to $218 million. The Company estimates adjusted diluted EPS to be in the range of negative $4.56 to negative $4.39 for fiscal 2017.
Stock Performance Snapshot
January 08, 2018 - At Monday's closing bell, ForeScout Technologies' stock rose 4.43%, ending the trading session at $30.17.
Volume traded for the day: 223.24 thousand shares.
Stock performance in the last month – up 31.80%
After yesterday's close, ForeScout Technologies' market cap was at $1.13 billion.
The stock is part of the Technology sector, categorized under the Application Software industry. This sector was up 0.4% at the end of the session.
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