Finjan Delivers Strong Fiscal Year 2017 Results
March 14 2018 - 4:54PM
Finjan Holdings, Inc. (NASDAQ:FNJN), a cybersecurity company, is
providing shareholders with its audited financials for the fiscal
year ended December 31, 2017. Additional updates across
Finjan’s operating subsidiaries and investments are also
highlighted in the company’s form 10K which was filed today, March
14, 2018 with the SEC.
Audited Financial Highlights for the Full Year Fiscal
2017:
- 175% year-over-year increase in revenues to $50.5 million
- Net income of $22.8 million or $0.90 per share• Net
income per share included; $0.57 in income from operations, $0.09
from a revised fair value warrant liability and $0.24 from
releasing a deferred tax asset allowance
- Ended the year with $41.2 million in cash or $1.49 per share as
compared to $13.7 million for the same period a year ago
- Raised net proceeds of $14.4 million through the issuance of
Series A-1 Preferred Stock and net proceeds of $12.0 million
through the public offering and sale of our common stock
- As a result of record performance in 2017 the Company redeemed
and retired $6.2 million or approximately 48,000 of Preferred
Series A-1 Shares in early January, 2018
“In 2017 we continued our upward revenue and profit trajectory
closing another record year,” said Phil Hartstein, President and
CEO of Finjan Holdings. “Based on our current licensing momentum
and upcoming catalysts we believe this upward revenue trend will
continue for the first quarter and throughout the remainder of
2018.”
ABOUT FINJANEstablished nearly
20 years ago, Finjan is a globally recognized leader in
cybersecurity. Finjan’s inventions are embedded within a strong
portfolio of patents focusing on software and hardware technologies
capable of proactively detecting previously unknown and emerging
threats on a real-time, behavior-based basis. Finjan continues to
grow through investments in innovation, strategic acquisitions, and
partnerships promoting economic advancement and job creation.
Follow Finjan Holdings, Inc.:
Twitter: @FinjanHoldings
LinkedIn: linkedin.com/company/finjan
Facebook: facebook.com/FinjanHoldings/
Cautionary Note Regarding Forward-Looking
StatementsExcept for historical information, the matters
set forth herein that are forward-looking statements involve
certain risks and uncertainties that could cause actual results to
differ. Potential risks and uncertainties include, but are not
limited to, Finjan’s expectations and beliefs regarding Finjan’s
licensing program, the outcome of pending or future enforcement
actions, the granting of Inter Partes Review (IPR) of our patents
or an unfavorable determination pursuant to an IPR or other
challenges at the USPTO of our patents, the enforceability of our
patents, the cost of litigation, timing of redemption of shares of
preferred stock, the unpredictability of our cash flows, our
ability to expand our technology and patent portfolio, the
continued use of our technologies in the market, our stock price,
changes in the trading market for our securities, regulatory
developments, general economic and market conditions, the market
acceptance and successful business, technical and economic
implementation of Finjan Holdings' intended operational plan; and
the other risk factors set forth from time to time in our filings
with the SEC, including our Annual Report on Form 10-K for the year
ended December 31, 2016, and the Company's periodic filings with
the SEC, copies of which are available free of charge at the SEC's
website at www.sec.gov or upon request from Finjan
Holdings, Inc. All forward-looking statements herein reflect our
opinions only as of the date of this release. These statements are
not guarantees of future performance and actual results could
differ materially from our current expectations. Finjan Holdings
undertakes no obligation, and expressly disclaims any obligation,
to update forward-looking statements herein in light of new
information or future events.
Investor Contact:Vanessa Winter
| Director of Investor Relations, Finjan HoldingsValter Pinto |
KCSA Strategic Communications(650) 282-3245 |
investors@finjan.com
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