Tufin Announces First Quarter 2020 Results
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Tufin (TUFN) Misses Q1 EPS by 1c, Revenues Beat
May 12, 2020 7:47 AM EDTTufin (NYSE: TUFN) reported Q1 EPS of ($0.41), $0.01 worse than the analyst estimate of ($0.40). Revenue for the quarter came in at $22.45 million versus the consensus estimate of $21.34 million.
Financial Highlights for the First Quarter Ended March 31, 2020
Revenue:
Total revenue was $21.2 million, down 5% compared with the first quarter of 2019.Product revenue was $5.8 million, down 45% compared with the first quarter of 2019.Maintenance and professional services revenue was $15.4 million, up 31% compared with the first quarter of 2019.Gross Profit:
GAAP gross profit was $15.7 million, or 74% of total revenue,... More