September 19, 2017 9:05 AM ET

Software

Company Overview of Imperva, Inc.

Company Overview

Imperva, Inc. engages in the development, market, sale, and support of cyber security solutions that protect business critical data and applications in the cloud or on premises worldwide. The company’s SecureSphere product line provides database, file, and Web application security in various data centers, including on-premise data centers, as well as private, public, and hybrid cloud computing environments. Its SecureSphere product also secures business-critical applications and data; and provides an accelerated route to address regulatory compliance and establishes a repeatable process for data risk management. The company’s Incapsula service delivers cloud-based Website security, distribut...

3400 Bridge Parkway

Suite 200

Redwood Shores, CA 94065

United States

Founded in 2002

980 Employees

Phone:

650-345-9000

Fax:

650-345-9004

Key Executives for Imperva, Inc.

Chairman of the Board & VP of Customer Engagement
Age: 56
Total Annual Compensation: $400.0K
Co-Founder and Chief Scientist
Age: 47
Total Annual Compensation: $177.1K
Chief Financial Officer and Treasurer
Age: 53
Total Annual Compensation: $347.2K
Chief Revenue Officer
Age: 56
Total Annual Compensation: $386.8K
Senior Vice President, General Counsel and Corporate Secretary
Age: 46
Total Annual Compensation: $306.9K
Compensation as of Fiscal Year 2016.

Imperva, Inc. Key Developments

Imperva, Inc Announces that NTT TechnoCross Corporation Uses Imperva Incapsula Service to Protect Website from Cyberattacks

Imperva, Inc. announced that NTT TechnoCross Corporation is using the Imperva Incapsula service to protect its website from cyberattacks. NTT TechnoCross deployed the Incapsula service across its customer-facing websites to ensure protection from business crippling DDoS attacks and malicious web application attacks using the service’s DDoS Protection and Web Application Firewall (WAF) features. With technical support for cloud computing and security as a core company value, NTT TechnoCross decided to use cloud-based services for its site. It also switched from in-house operations to the use of external security services.

Imperva, Inc. Announces Management Changes

Imperva, Inc. announced that its board of directors has appointed 20-year technology veteran Christopher Hylen, the former CEO of Citrix GetGo, as president and CEO and a member of the board, effective August 15, 2017. Anthony Bettencourt, who currently serves as president and CEO, will transition to the newly created role of vice president of customer engagement, where he will focus on customer and corporate development initiatives, as well as helping to facilitate a smooth transition of CEO responsibilities. Mr. Bettencourt will remain chairman of Imperva’s board, and Allan Tessler will remain the company’s lead independent director. Christopher Hylen, 56, most recently served as President and CEO of Citrix GetGo where he was responsible for overseeing all business activities related to Citrix’s GoTo family of products. Mr. Hylen previously served as Senior Vice President and General Manager, Mobility Apps of Citrix and was responsible for strategy and business operations of Citrix’s former Mobility Apps business unit consisting of Citrix's GoTo family of products, including its communications cloud and workflow cloud products.

Imperva, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Provides Earnings Guidance for the Third Quarter and Full Year 2017

Imperva, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company's total revenue for the second quarter of 2017 was $74.4 million, an increase of 29% compared to $57.9 million in the second quarter of 2016. GAAP operating loss was $4.6 million for the second quarter compared to a loss of $23.8 million during the second quarter in 2016. Non-GAAP operating income for the second quarter was $7.2 million, compared to a non-GAAP operating loss of $6.3 million during the same period in 2016. GAAP net loss for the second quarter was $3.5 million, or $0.10 per share based on 33.6 million weighted average diluted shares outstanding. This compares to net loss of $24.7 million, or $0.77 per share based on 32.2 million weighted average shares outstanding in the second quarter of 2016. Non-GAAP net income for the second quarter of 2017 was $8.3 million, or $0.24 per share based on 34.2 million weighted average diluted shares outstanding. This compares to a non-GAAP net loss of $7.3 million, or $0.23 per share based on 32.2 million weighted average shares outstanding in the second quarter of 2016. The company generated $5.4 million in net cash from operations for the second quarter of 2017, compared with using $2.2 million in the second quarter of 2016. Loss before provision for income taxes was $4,404,000 compared to $24,035,000 a year ago. For the six months, the company reported total revenue of $146,743,000 compared to $117,646,000 a year ago. Loss from operations was $16,300,000 compared to $47,986,000 a year ago. Income before provision for income taxes was $19,637,000 compared to loss of $48,144,000 a year ago. Net income was $19,593,000 compared to net loss of $48,723,000 a year ago. Net income per share of common stock stockholders, diluted was $0.58 compared to loss of $1.52 a year ago. Net cash provided by operating activities was $23,938,000 compared to $3,794,000 a year ago. Net purchases of property and equipment was $6,546,000 compared to $8,263,000 a year ago. Non-GAAP operating income was $10,340,000 compared to loss of $14,523,000 a year ago. Non-GAAP net income was $11,263,000 or $0.33 per diluted share compared to loss of $15,260,000 or $0.48 per diluted share a year ago. The company provided earnings guidance for the third quarter and full year 2017. The company expects total revenue for the third quarter of 2017 to be in the range of $81.0 million to $83.0 million. The company expects in the third quarter of 2017 non-GAAP gross margins of approximately 80%. Further, the company expects in the third quarter of 2017 non-GAAP operating income to be in the range of $8.3 million to $9.4 million and non-GAAP net income to be in the range of $7.7 million to $8.8 million, or $0.22 to $0.26 per share based on approximately 34.5 million weighted diluted average shares. The company expects total revenue for 2017 to be in the range of $319.8 million to $322.8 million. The company expects 2017 non-GAAP gross margins of approximately 80%. Further, the company expects 2017 non-GAAP operating income to be in the range of $29.5 million to $31.2 million and non-GAAP net income to be in the range of $26.7 million to $28.1 million, or $0.78 to $0.82 per share based on approximately 34.2 million weighted average diluted shares. The company expects capital expenditures for the full year to be in the range of $15.0 million to $20.0 million. Finally, the company expects to generate positive cash flows from operations in 2017.

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