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The internet infrastructure and security company reached a significant milestone. The company is on a run rate of over $1 billion for the first time.
The revenue was up 47% over the previous year. The loss in the third quarter was 13 cents a share. In the same quarter a year ago, the company reported a loss of $107.3 million, or 34 cents a share.
Matthew Prince said that the company wanted to reach $5 billion in revenue organically in five years. We have penetrated less than 1% of the market for products we already have available.
Prince told analysts in the earnings call that they were confident of achieving $5 billion in revenue over the next five years.
It is rare for a company to make $1 billion in revenue. Only a small percentage of public software companies achieved this milestone, so we are proud to have accomplished it.
The markets reacted negatively to the news, with the company's stock down as much as 13% overnight Thursday and as much as 18.5% by the close of Friday.
How realistic is the $5 billion goal?
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