Mimecast Limited (NASDAQ:MIME) Q2 2020 Earnings Conference Call Transcript

Nov 07, 2019 • 04:30 pm ET

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Mimecast Limited (NASDAQ:MIME) Q2 2020 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, please stand by your conference call will begin momentarily. Again, thank you for your patients and please stand by your conference call will begin momentarily.

Executive
Robert Sanders

Good evening. Welcome to Mimecast's earnings call for the fiscal second Quarter of 2020 ended September 30 2019. I'm Robert Sanders Director of Investor Relations. With me on the call tonight are Peter Bauer our Co-Founder Chairman and CEO; and Rafe Brown our CFO. Tonight's conference call is being broadcast live. A replay of this call will be available after the live call has ended. We will make forward-looking statements regarding future events and the future financial performance of the company. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those in the forward looking statements. We caution you to consider the important risk factors that could cause actual results to differ from those in the forward looking statements contained in today's press release. And on this conference call. these risk factors are further defined in mind casts most recent form 10 q filed with the Securities and Exchange Commission, During this call we will present both GAAP and non-GAAP financial measures.

These non-GAAP measures are not intended to be considered in isolation from a substitute for or superior to our GAAP results. A reconciliation of GAAP to non-GAAP measures and the reasons for our representation of the non-GAAP measures are included in today's press release which can be found in the Investor Relations section of our website. The date of this call is November 7 2019. Any forward-looking statements we make today are based on assumptions that we believe to be reasonable as of this date. We undertake no obligation to update these statements as a result of new information or future events.

Now I'd like to turn the call over to Peter Bauer. Peter?

Executive
Peter C. Bauer

Good evening and welcome to our earnings call for the second quarter of our fiscal 2020. On tonight's call I'll provide an overview of our second quarter results and discuss our progress in helping customers build greater cyber resilience as we gain market share. Then I'll talk about our inaugural Cyber Resilience Summit held just last week in Dallas and discuss the launch of Email Security 3.0 our strategy to help customers evolve and advance from perimeter e-mail security to a much more powerful pervasive e-mail security on our platform. I'll review recent partnerships and cover additions to our Board and my leadership team. Then finally as I've done in past calls I'll share with you some examples of the solutions we're providing to customers and the reasons why Mimecast's unified platform of services continues to win favor with organizations of all sizes. So the second quarter marked a big milestone for the company achieving our first quarter surpassing $100 million in revenue 98% of which was reoccurring subscription revenue. Our results exceeded our guidance for both revenue and adjusted EBITDA. Revenue of USD 103.4 million grew at