Finjan Reports $82 Million in Revenue for the First Half of Fiscal 2018

Cybersecurity company, Finjan Holdings announced its financial results for the first half of 2018 and second fiscal quarter ended June 30, 2018.

The company’s revenues totalled US$82.3 million as compared to US$27.1 million for the comparable period last year.

According to Finjan, the revenue for the current period represents an increase of more 200 percent year-over-year.

As quoted in the press release:

Unaudited Financial Highlights for the First Six Months of 2018:

• Ended the quarter with approximately $65.0 million in cash as compared to $41.2 million as of December 31, 2017

• Net income was $36.3 million or $1.31 per share as compared to $13.1 million or $0.57 for the same period a year ago

• As a result of record performance the Company redeemed and retired all 153,000 Preferred Series A-1 Shares in the first quarter of 2018 for a total amount of $19.9 million

Unaudited Financial Results for the Second Quarter of 2018

• Revenue increased over 650% to $17.3 million compared to $2.3 million for the same period a year ago
• Net income was $7.0 million or $0.26 per share compared to a net loss of ($2.8) million or a loss of ($0.12) per share for the same period a year ago
• Repurchased 686,492 shares of Finjan’s common stock under the $10 million share repurchase program for an aggregate purchase price of approximately $2.0 million, or $2.95 per share

“Finjan continues to execute evidenced by our settlements with Symantec and Carbon Black and our most recent license with Trend Micro. This has resulted in revenues of $82.3 million in first half of 2018, far surpassing revenues for the full year of fiscal 2017,” said Phil Hartstein, President and CEO of Finjan Holdings. “We have made progress on our strategic objectives which we introduced last quarter including cash back to our shareholder through our $10 million share repurchase program and building upon our expertise of patent monetization through the broadening of our patent portfolio through our IBM relationship.”

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