In its first earnings report since becoming a public company, Sophos Group said that it has seen continued growth across all regions and major product groups, with adjusted revenue growing 24.7% year over year in the latest quarter.
For its fiscal year 2016 first quarter, which ended June 30, Sophos reported revenue of $113.3 million, up 11.5% year over year, from $101.6 million. Those results reflected significant devaluation of the Euro and Sterling against the US Dollar.
The UK security firm also reported cash EBITDA of $16.5 million, compared to $16.7 million in the year-ago quarter.
“We are pleased to report continued strength across all regions and product categories in the first quarter,” CEO Kris Hagerman said. “Given this encouraging start, we remain confident in our expectations for the full financial year as we deliver on our strategy to be the best in the world at delivering complete, enterprise-grade IT security for mid-market organizations and the channel that serves them.“
Sophos recently announced its acquisition of Reflexion Networks, which provides cloud-based email security, archiving, email encryption and business continuity services, for $15 million. The move enables Sophos to add cloud-based email security to Sophos Cloud, the company’s single, integrated cloud-based management console.
In late June, it raised $125 million in the UK’s largest-ever software IPO, making it a “tech unicorn.”
Looking forward, Sophos said that it is maintaining its full-year guidance to achieve mid-teens adjusted billings growth and cash EBITDA margins no lower than the 21.3% achieved in FY15. Also, the currency headwind experienced in Q1 is expected to reduce over the course of the year from approximately 12% for the first half to around 8% for the full year. And finally, cash EBITDA phasing is expected to be approximately one-third in the first half and two-thirds in the second half; in line with historical trends.