Mobileiron Inc (NASDAQ:MOBL)
Shareholders are unloading Mobileiron Inc (NASDAQ:MOBL) as the shares have dropped over 20% today and over 30% for the week. MOBL shares had a good run until this week – almost doubling for the year. However, on Thursday night the software developer released their Q2 financial reports prompting investors to head for the doors.
The Mountain View, CA-based company posted a loss of (-$0.20) cents per share. Losses, adjusted for stock option expense and amortization costs, came to (-$0.08) cents per share. Revenues came in at $42.7 million which missed consensus forecast but were up 10% YoY. Three analysts surveyed by Zacks expected $43.5 million. For the current quarter, ending in October, Mobileiron Inc (NASDAQ:MOBL) expects revenues in the range of $44 – $46 million and full-year revenues in the range of $175 – $185 million.
Barry Mainz, President and CEO of Mobileiron Inc (NASDAQ:MOBL), stated in the press release “In the second quarter, we hit a major milestone, surpassing 15,000 cumulative customers, and we saw positive cloud growth with over 75% of our new customers in this quarter choosing our cloud platform. We had some large deals that didn’t close as planned. Looking ahead, we expect to improve sales execution in the second half of the year while we maintain our focus on fiscal discipline. We remain committed to our guidance of being cash from operations positive for the year and to achieving a non-GAAP operating margin of between -2% and +2% for the fourth quarter.”
On a positive note, Mobileiron Inc (NASDAQ:MOBL) announced yesterday that it has been issued 15 new patents in 2017 by the United States Patent and Trademark Office (USPTO), bringing its total to 55. The new patents relate to enterprise data security, including data loss prevention controls for mobile apps, trusted access to cloud services, optimized data encryption, secure copy and paste, and multi-factor authentication.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
Don’t miss out! Stay informed on $MOBL and receive breaking news on other hot stocks by signing up for our free newsletter!
About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.