UK insecurity outfit Sophos today reported its interim results which showed that while revenues continued to rise, losses also widened.
Revenue increased to $256.96 million in the six months, up from $234.2 million in the same period last year. Sophos said its billings were up 15 percent while new customer billings were up 20 percent.
That still meant that it had an operating loss of $24.6 million which was an increase from $13.4 million from last year.
Sophos blamed the increased losses on investment into R&D, as well as a continued shift towards subscription-based billing.
Investors appeared largely satisfied first six months of results. The share price crept up by one percent today to 235 pence per share.
Kris Hagerman, chief executive officer said that he was pleased with Sophos’ first half results. They were in-line with Sophos’ outlook, and he was especially pleased with our cash flow performance which was ahead.
“As we enter the second half of the fiscal year we expect continued strong growth, as we benefit from key new product releases in next-generation endpoint and next-generation firewall, and the continued momentum of our Sophos Central cloud management platform,” Hagerman said.
For the year-ending 31 March 2017, the firm said that it expects to deliver mid-teens revenue growth whilst delivering ‘modest’ cash EBITDA margin expansion.
