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Proofpoint, Inc. (NASDAQ: PFPT), a leader in cybersecurity, has announced participation in two upcoming investor events. Chief Financial Officer Paul Auvil and Vice President of Investor Relations Jason Starr will present at the D.A. Davidson Annual Software and Internet Conference on September 9, 2020, at 8:35 a.m. PT. CEO Gary Steele and CFO Paul Auvil will present at the Citi 2020 Global Technology Virtual Conference on September 10, 2020, at 10:30 a.m. PT. The live webcasts can be accessed on Proofpoint’s investors page.
Proofpoint announced a new share repurchase program authorized by its Board of Directors, allowing the company to buy back up to $300 million of its common stock, approximately 5% of its current market capitalization. This strategy reflects the Board's confidence in Proofpoint's long-term growth and commitment to returning value to shareholders while continuing investments in its cybersecurity platform. The company plans to finance the buyback through existing cash and operational cash flows, with no set schedule for repurchases.
Proofpoint (NASDAQ: PFPT) announced the launch of its Essentials Security Awareness solution aimed at small and medium-sized businesses (SMBs). This solution utilizes realistic threat simulations and targeted user education to mitigate cyber risks. Backed by Proofpoint’s threat intelligence, it significantly reduces successful phishing and malware attacks by up to 90%, according to company estimates. The program offers consistent training available in 40 languages and is part of the Proofpoint Essentials platform, enhancing SMBs' defenses against cyber threats.
Proofpoint reported second-quarter 2020 financial results with total revenue of $258.4 million, a 21% increase year-over-year. Billings rose 8% to $250.0 million. While the GAAP EPS was $(0.39) per share, the Non-GAAP EPS stood at $0.51 per share. Operating cash flow reached $30.6 million, and free cash flow was $18.8 million. The company has raised its FY20 guidance for revenue, Non-GAAP net income, and free cash flow, citing strong customer interest in its cybersecurity services.
Proofpoint, Inc. (NASDAQ: PFPT) announced it will release its financial results for Q2 2020 on July 30, 2020, post-market close. A conference call for investors and analysts is scheduled for 1:30 PM PT the same day. To join, U.S. callers can dial (800) 458-4121, while international participants can call (929) 477-0324, using conference ID #698797. Audio replays will be available after the call until August 13, 2020. The company is a leader in cybersecurity, servicing numerous clients including over half of the Fortune 1000, providing solutions to combat cyber threats.
Proofpoint, Inc. (NASDAQ: PFPT) has launched a cloud-based ObserveIT Insider Threat Management (ITM) platform aimed at enhancing insider risk detection and incident response. This innovative platform integrates real-time threat visibility and unified security protocols, designed to mitigate the growing risks associated with insider threats, which account for over 30% of data breaches. The Ponemon Institute reports a 31% increase in the average global cost of insider threats, now at $11.45 million. With features including improved detection capabilities and streamlined incident response, the new platform aims to bolster cybersecurity for organizations.
Proofpoint announced significant enhancements to its Enterprise Archive solution, aimed at improving e-discovery and supervision processes. Key advancements include a new case management feature, which boosts efficiency and reduces costs by organizing e-discovery elements, and a Compliance Risk Dashboard for better visibility into compliance risks. The updates leverage cloud intelligence and machine learning to support organizations in meeting regulatory compliance across various platforms.
On May 20, 2020, Proofpoint (NASDAQ: PFPT) announced participation in key investor events. CEO Gary Steele and CFO Paul Auvil will present at:
- Piper Sandler’s Event on June 5, 2020, at 8 a.m. PDT
- William Blair’s Conference on June 9, 2020, at 12 p.m. PDT
CFO Auvil and VP Jason Starr will speak at:
- Cowen’s Conference on May 27, 2020, at 11:05 a.m. PDT
- Bank of America’s Conference on June 4, 2020, at 9:15 a.m. PDT
- Stifel’s Conference on June 10, 2020, at 1 p.m. PDT
Webcasts are available on Proofpoint’s investor page.
