Everbridge stock rises on Q2 beat; raises FY22 earnings outlook

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Everbridge (NASDAQ:EVBG) stock rose ~7% post market after Q2 results beat analysts estimates and raised its FY22 Adjusted EPS outlook.

Non-GAAP EPS was flat Y/Y at $0.03. Meanwhile, revenue rose +18.85% Y/Y to $102.99M. But both, top and bottom line surpassed analysts’ estimates.

“We delivered strong second quarter results and large enterprise deal momentum, demonstrating that our recent actions to streamline, integrate, and reduce complexity across our product portfolio are beginning to pay off for our customers,” said Vernon Irvin, executive vice president and chief revenue officer.

Ended Q2 with 6,345 global enterprise customers, up from 5,890 at the end of the Q2 2021.

GAAP net loss was widened to -$36.2M, compared to -$33.8M in Q2 2021.

Q2 Adjusted EBITDA grew to ~$4.8M, compared to ~$0.5M in the prior year period.

Outlook:

Q3: The company expects Q3 non-GAAP EPS to be between $0.16 and $0.17. Consensus EPS Estimate for Q3 is $0.13.

Everbridge expects revenue between $110.6M and $111.0M; Consensus Revenue Estimate for Q3 is $110.52M.

2022: The company expects 2022 non-GAAP EPS to be between $0.33 and $0.38, up from the prior forecast range provided in May, which was $0.23 to $0.27. Consensus EPS Estimate for 2022 is $0.24.

Everbridge expects 2022 revenue between between $428.2M and $432.8M, same forecast as in May. Consensus Revenue Estimate for 2022 is $430.38M.

EVBG +6.52% to $31.55 post-market Aug. 9

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