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Intelligent Protection Management Q3 revenue jumps on procurement demand

By Reuters News


Overview

  • Cybersecurity and cloud services provider's Q3 revenue rose more than 75% yr/yr, driven by procurement demand

  • Q3 net loss narrowed to $0.8 mln from $1.1 mln a year earlier

  • Q3 adjusted EBITDA turned positive at $0.2 mln vs negative $0.3 mln last year


Outlook

  • Company did not provide specific financial guidance for the current or future periods in its press release


Result Drivers

  • PROCUREMENT REVENUE SURGE - Co said Q3 revenue growth was primarily driven by a 271% increase in procurement revenue as customers accelerated infrastructure investments in cybersecurity, cloud modernization, data center expansion and AI

  • LARGE CUSTOMER ORDER - Co said it fulfilled a significant customer order during Q3, contributing to revenue growth

  • RECURRING REVENUE GROWTH - Core managed services revenue from non-affiliated customers increased 33% yr/yr, reflecting efforts to deepen customer relationships and diversify revenue


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$10.95 mln

$6.37 mln (1 Analyst)

Q3 Net Loss

$779,378

Q3 Adjusted EBITDA

Beat

$159,201

-$500,000 (1 Analyst)


Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • The average consensus recommendation for the business support services peer group is "buy"


Reuters Recommended Reads

  • Nov 9 - Trade Desk Q3 revenue beats analyst estimates

  • Nov 9 - PubMatic's Q3 revenue beats estimates on AI demand

  • Nov 10 - Palladyne AI beats Q3 revenue estimates, raises lower end of forecast


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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