Barracuda reports Q2 2018 results

Barracuda Networks, Inc. (NYSE: CUDA), a provider of cloud-enabled security and data protection solutions, has announced results for its second quarter fiscal 2018 that ended August 31, 2017, the company said.

Total revenue increased 7% to USD 94.3 million, compared with USD 87.9 million in the second quarter of fiscal 2017.

Subscription revenue grew to USD 76.0 million, up 14% from USD 66.9 million in the second quarter of fiscal 2017, representing 81% of total revenue, and appliance revenue was USD 18.3 million, compared with USD 21.0 million in the second quarter of fiscal 2017.

Gross billings were USD 108.5 million, compared with USD 100.3 million in the second quarter of fiscal 2017. Billings for core products increased 22% to USD 70.9 million, compared with USD 58.1 million in the second quarter of fiscal 2017.

The number of active subscribers grew 17% to over 348,000 as of August 31, 2017. The annualized renewal rate from subscriptions on a dollar basis was 91%.
GAAP net income was USD 1.6 million, or USD 0.03 per share, based on a diluted share count of 54.6 million, compared to a GAAP net income of USD 2.4 million, or USD 0.05 per share, in the second quarter of fiscal 2017.

Barracuda (NYSE: CUDA) simplifies IT with cloud-enabled solutions that empower customers to protect their networks, applications and data, regardless of where they reside. These powerful, easy-to-use and affordable solutions are trusted by more than 150,000 organizations worldwide and are delivered in appliance, virtual appliance, cloud and hybrid deployment configurations. Barracuda´s customer-centric business model focuses on delivering high-value, subscription-based IT solutions that provide end-to-end network and data protection. For additional information, visit barracuda.com.

Barracuda Networks, Barracuda, and the Barracuda Networks logo are registered trademarks of Barracuda Networks, Inc. in the US and other countries.