On Thursday, May 2, the Zix Corporation (NASDAQ:ZIXI) earnings report for the first quarter was released. After reporting a 76% revenue increase as well as the closing of acquisitions, ZIXI stock jumped twenty-four hours after the report came out.
At the time of writing, ZIXI stock is up nearly 30%.
Here’s what we know.
ZIXI Stock Up After Zix Corporation Earnings Report
“The first quarter of 2019 was positive in a number of meaningful ways,” said Zix Corporation’s CEO David Wagner. And positive it was. In the first quarter of 2019, revenue came in at $29.3 million, which means the company saw a 76% increase in revenue. Standalone revenue for the company increased by 10% to $18.4 million, while total overall organic revenue growth was 14%.
For those who don’t know, Zix Corporation is a leading security technology company that provides everything from email encryption services to email data loss prevention. It was founded in 1988.
Other financial highlights in the ZIXI earnings report for Q1 include total billings increasing 15% to $28.5 million, and the Dallas, Texas-based company ending the quarter with $16.7 million in cash.
Zix Corporation also closed the AppRiver acquisition in the quarter. It also “delivered 20%+ growth of Monthly Recurring Revenue (MRR) at AppRiver;” and the company also delivered “74% New First-Year Orders growth at Zix,” according to David Wagner.
Looking at the Zix Corporation earnings report, it’s easy to see why there’s such optimism surrounding the company at the moment: “This is truly an exciting time to be at Zix,” said Wagner. But it’s not just Zix management that’s hopeful about the future of the company. That’s indicated by the trading day ZIXI stock is having Friday.
According to Yahoo Finance, as of 11:27 AM EDT, ZIXI stock is trading at $10.47, which puts the stock up 27.22%. ZIXI stock is a Yahoo Finance trending ticker of the day.
What do you think about the Q1 Zix Corporation earnings report? Do you think the nearly 30% surge for ZIXI stock is deserved?
Let us know what you think in the comments below!
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