February 25, 2017 5:39 PM ET

Software

Company Overview of Proofpoint, Inc.

Company Overview

Proofpoint, Inc. operates as a security-as-a-service (SaaS) provider that enables large and mid-sized organizations to defend, protect, archive, and govern their sensitive data worldwide. It offers threat protection, incident response, regulatory compliance, archiving, governance, eDiscovery, and secure communication solutions. The company provides email security products that include Enterprise Protection secure email gateway, Email Fraud Defense, Email Continuity, and Proofpoint Essentials, which are design to protect customers' mission-critical messaging infrastructure from outside threats, enable enterprises to authenticate their email to reduce consumer phishing, fight business email co...

892 Ross Drive

Sunnyvale, CA 94089

United States

Founded in 2002

Phone:

408-517-4710

Fax:

408-517-4711

Key Executives for Proofpoint, Inc.

Chief Executive Officer and Director
Age: 54
Total Annual Compensation: $450.0K
Chief Financial Officer
Age: 52
Total Annual Compensation: $360.0K
Executive Vice President of Global Field Operations
Age: 50
Total Annual Compensation: $400.0K
Executive Vice President and General Manager of Information Security Products Group
Age: 50
Total Annual Compensation: $322.1K
Senior Vice President of Information Archiving & Governance Products Group and General Manager of Information Archiving & Governance Products Group
Age: 50
Total Annual Compensation: $265.0K
Compensation as of Fiscal Year 2015.

Proofpoint, Inc. Key Developments

Proofpoint, Inc. Launches Digital Risk Defense, First to Extend Integrated Phishing and Fraud Defense Across Critical Digital Channels

Proofpoint, Inc. announced the unified social, mobile, web, and email fraud and phishing detection and protection solution to provide visibility and address threats outside of the traditional security infrastructure of companies. This growing arena of digital risks targets more than the employees of a company. Cybercriminals leverage a variety of channels, including fraudulent social accounts, fraudulent mobile apps, and fraudulent email domains for both consumer and business email compromise (BEC) phishing. Leveraging shared risk visibility across Proofpoint’s Nexus threat intelligence platform, Proofpoint Digital Risk Defense protects organizations from cybercriminals exploiting the company brand to fraudulently phish their customers, partners and vendors. Proofpoint is delivering an omnichannel digital risk suite to combat this new wave of digital fraud and phishing to provide unique coverage for modern digital risks, such as: Angler Phishing on social media customer care accounts; Social engineering and visual spoofing in fraudulent web domains, social accounts, and emails making fakes appear as the genuine brand; Fraudulent web domains in social and email phishing campaigns; and Fake branded mobile apps designed for phishing brand customers. In addition to more complete visibility, context, and coverage, Proofpoint brings patented and patent-pending capabilities for assessing and remediating risks in real time on or from social accounts, mobile apps, phishing emails, web domains, and websites delivering this unified coverage and product suite with the following modules: Fraudulent Social Account, Mobile App and Web Domain Discovery – Automatically find, track, assess risk, and report phishing and fraudulently branded: social media accounts, web domains (including visual spoofing), consumer email campaigns, and mobile apps (across more than 500 stores); Correlated Conviction Across Channels— Proofpoint Social, Mobile, and Web Discover modules can detect and classify fraudulent brand presence automatically while working in unison to further convict the entire attack chain involved in Angler Phishing or consumer email phishing by correlating the fake social accounts, mobile apps, web domains, and brand emails being used; Automated, Real-time Remediation and Blocking – Proofpoint delivers the only patented capabilities for automatically removing phishing content on social media along with the ability to block phishing campaigns, and phishing accounts as well as provide takedown reporting for fraudulent brand presence across digital channels Additional functionality includes deep visibility, reporting and ecosystem intelligence sharing: Unified Digital Risk Dashboard – View all digital risk activity across all four channels, view trends and risk scores over time, drill into detailed incident views, see remediation and takedown results while setting up automated reports by role, and more. Ecosystem Intelligence Sharing – Consume and view all digital risk activity in security operations center (SOC) solutions, like Splunk, as well as validate and share content risk assessment with other security infrastructures, including Palo Alto Networks Wildfire.

Proofpoint, Inc. Announces Resignation of Anthony Bettencourt from the Board of Directors

On January 24, 2017, Anthony Bettencourt informed the company of his resignation from the Board of Directors of Proofpoint, Inc. In addition to serving on the Board, Mr. Bettencourt had been a member of the Nominating and Governance Committee of Proofpoint, Inc. His resignation became effective on January 24, 2017 and was not due to any disagreement with the company or its management.

Proofpoint, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016; Provides Earnings Guidance for the First Quarter of 2017 and Revises Earnings Guidance for the Full Year 2017

Proofpoint, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total revenue of $106,805,000 compared to $74,939,000 a year ago. Operating loss was $16,126,000 compared to $21,046,000 a year ago. Loss before provision for income taxes was $22,710,000 compared to $27,250,000 a year ago. Net loss was $22,884,000 or $0.54 per basic and dilute share compared to $27,392,000 or $0.68 per basic and dilute share a year ago. Net cash provided by operating activities was $41,238,000 compared to $8,218,000 a year ago. Purchase of property and equipment was $8,880,000 compared to $7,700,000 a year ago. On non GAAP basis, the company reported operating income of $9,899,000 compared to $1,018,000 a year ago. Net income of $8,493,000 or $0.18 per diluted share compared to loss of $376,000 or $0.01 per diluted share a year ago. LBITDA was $7,862,000 compared to $14,379,000 a year ago. Adjusted EBITDA $14,758,000 compared to $4,555,000 a year ago. Non-GAAP free cash flows was $32,358,000 compared to $518,000 a year ago. For the year, the company reported total revenue of $375,496,000 compared to $265,397,000 a year ago. Operating loss was $85,581,000 compared to $78,150,000 a year ago. Loss before provision for income taxes was $110,222,000 compared to $98,077,000 a year ago. Net loss was $111,208,000 or $2.66 per basic and dilute share compared to $98,712,000 or $2.48 per basic and dilute share a year ago. Net cash provided by operating activities was $94,235,000 compared to $46,504,000 a year ago. Purchase of property and equipment was $34,407,000 compared to $25,827,000 a year ago. On non GAAP basis, the company reported operating income of $21,566,000 compared to loss of $312,000 a year ago. Net income of $16,880,000 or $0.37 per diluted share compared to loss of $6,122,000 or $0.15 per diluted share a year ago. LBITDA was $55,132,000 compared to $55,177,000 a year ago. Adjusted EBITDA $38,697,000 compared to $12,332,000 a year ago. Non-GAAP free cash flows was $59,828,000 compared to $20,677,000 a year ago. For the first quarter of 2017, total revenue is expected to be in the range of $109.0 million to $111.0 million.  GAAP loss is expected to be in the range of $31.6 million to $28.5 million, or $0.73 to $0.66 per share, based on approximately 43.2 million weighted average diluted shares outstanding.  Non-GAAP net income is expected to be in the range of $3.0 to $4.0 million, or $0.07 to $0.09 per share, using 54.7 million weighted average diluted shares outstanding.  Free cash flow is expected to be in the range of $15.0 million to $20.0 million. GAAP cash flows provided by operating activities expected to be in the range of $27.5 million to $33.5 million. Purchases of property and equipment expected to be in the range of $12.5 million to $13.5 million. The company expects first quarter non-GAAP gross margin to be approximately 76%, a modest decline from the 77% recorded in the fourth quarter of 2016 as its spending begins to catch up with the accelerated revenue delivered during the second half of 2016. The capital expenditures expected roughly $13 million, a $4 million increase from fourth quarter of 2016. For the full year 2017, the company expects total revenue to be in the range of $488.0 million to $492.0 million. GAAP loss is expected to be in the range of $121.4 million to $113.3 million, or $2.75 to $2.57 per share, based on approximately 44.1 million weighted average diluted shares outstanding.  Non-GAAP net income is expected to be in the range of $23.0 to $25.0 million, or $0.49 to $0.52 per share, using 55.7 million weighted average diluted shares outstanding. This is up from the company’s previous guidance of $21 million to $23 million or $0.45 to $0.49 per share on a fully diluted basis. Free cash flow is expected to be in the range of $95.0 million to $105.0 million, which assumes capital expenditures of $40.0 million to $42.0 million for the full year. GAAP cash flows provided by operating activities expected to be in the range of $135.0 million to $147.0 million. Purchases of property and equipment expected to be in the range of $40.0 million to $42.0 million. The company expects full year 2017 non-GAAP gross margins to be approximately 76.5%, demonstrating ongoing progress toward the company’s 2020 target range of 77% to 79%.

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