FireEye Reports Revenue of $166 Million, Lower Billings

FireEye reported Q3 revenue of $165.6 million, an increase of 45 percent from the third quarter of 2014. Billings were $210.6 million, an increase of 28 percent from the third quarter of 2014. GAAP net loss per share was $0.88, compared to a GAAP net loss per share of $0.83 in the third quarter of 2014.

“We delivered a solid quarter of overall growth, with revenue up 45 percent and non-GAAP operating margins and earnings per share well ahead of our outlook,” said David DeWalt, FireEye chief executive officer and chairman of the board.

“While we outperformed on many financial metrics, our billings performance did not meet the expectations we set in late July. The strength evident in our sales to new logo customers, our North American enterprise business and the Asia-Pacific region was partially offset by weakness in Europe.  We believe this was due to a combination of macroeconomic factors, as well as the growing pains of a new organization. Additionally, the third quarter of 2014 included a large, five-year transaction that extended the average contract length to 34 months. This created a difficult year-over-year comparison and impacted our year-over-year billings growth rate as the average contract length declined to approximately 30 months in the third quarter of 2015,” added Berry.

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