Imperva (IMPV) Prelim Q3 EPS, Rev. Tops Views

Imperva, Inc. (NASDAQ: IMPV), committed to protecting business-critical data and applications in the cloud and on-premises, today announced preliminary financial results for the third quarter ended September 30, 2017 that were above the high end of the guidance ranges for both total revenue and profitability previously provided on July 27, 2017.

Based on preliminary financial information, Imperva currently expects to report total revenue for the third quarter of 2017 in the range of $83.5 million to $84.0 million compared to the company’s prior guidance of total revenue in the range of $81.0 million to $83.0 million.

Imperva also expects to report non-GAAP operating income in the third quarter of 2017 in the range of $10.5 million to $11.0 million, and expects to report non-GAAP net income per share in the range of $0.29 to $0.32 using approximately 34.4 million weighted average shares, based on preliminary financial information. This is compared to the company’s prior guidance of a non-GAAP operating income in the range of $8.3 million to $9.4 million and non-GAAP net income per share in the range of $0.22 to $0.26. Preliminary non-GAAP results exclude stock-based compensation and amortization of purchased intangibles. Imperva will provide detail on stock-based compensation and amortization of purchased intangibles on its third quarter earnings conference call scheduled for November 8, 2017.

(Street sees Q3 EPS of $0.24 on revenue of $82.1 million)

Third quarter 2017 preliminary results are subject to change based on the completion of the company’s normal quarter-end review process.

In addition, Charles Giancarlo has notified the Company of his resignation from Imperva’s Board of Directors, effective October 17, 2017. On August 24, 2017, Mr. Giancarlo was named Chief Executive Officer and a member of the Board of Directors of Pure Storage.

“I made the decision to part with my responsibilities with Imperva because of my new role as CEO and board member of Pure Storage. It has been an honor to serve on Imperva’s Board of Directors. I’ve enjoyed my time working with the company, and wish them continued success,” stated Mr. Giancarlo.

“We were pleased with our third quarter results which were driven by Imperva’s best-of-breed discovery, protection and compliance solutions,” stated Chris Hylen, President and Chief Executive Officer of Imperva. “In addition, I wanted to thank Charlie for for all of his contributions and wish him well in his new role.”

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