MOUNTAIN VIEW, Calif.,
Oct. 17, 2017 /PRNewswire/ --
MobileIron (NASDAQ:MOBL), the security backbone for the multi-cloud
enterprise, announced today that its board of directors has
appointed Chief Financial Officer Simon
Biddiscombe as President, Chief Executive Officer, and
member of the board. Mr. Biddiscombe's appointment follows the
mutual decision between the MobileIron board and CEO Barry Mainz that Mr. Mainz will leave the
company. Mr. Biddiscombe's appointment is effective immediately.
Shawn Ayers, Vice President of
Finance, will serve as interim CFO, and the company has opened a
search to fill the CFO position.
Tae Hea Nahm, Chairman of
MobileIron's Board of Directors, said: "Simon is an experienced
public company CEO who has excelled as a leader and driven
significant operational improvement since he has joined the
company. The board believes that under Simon's leadership,
MobileIron will deliver value to its shareholders by focusing on
its key products and markets while ensuring the financial
discipline that will strengthen profitability. On behalf of the
MobileIron board, I want to thank Barry for his leadership. The
progress we've made during his tenure has laid the foundation for
MobileIron's next stage of growth."
Simon Biddiscombe has served as
CFO of MobileIron since 2015 and has held numerous leadership
positions including CEO and CFO of QLogic Corp., CFO at Mindspeed
Technologies, and CFO and COO of Wyle Electronics.
"I'm honored and excited to lead MobileIron through its next
phase of growth," said Simon
Biddiscombe, President and CEO, MobileIron. "We believe we
have the best products in the market and the right team to drive
long-term growth and profitability. Over the last year, we've
delivered critical innovations that should allow us to deepen our
relationship with our customers. I look forward to leveraging our
competitive advantage, strengthening our go-to-market execution,
and driving improvements throughout our operations."
Third Quarter 2017 Preliminary Results
The company is
providing preliminary results for the third quarter 2017 (ending
September 30, 2017):
- Gross billings are expected to be between $49.5 million and $50.5 million, which represents
growth of between 5% and 7% year-over-year.
- Revenue is expected to be between $42
million and $43 million, which represents growth of 1% to 4%
year-over-year.
- Non-GAAP gross margin is expected to be between 84% and
85%.
- Non-GAAP operating expenses are expected to be between
$42.5 million and $43 million.
The company will address third quarter and full year guidance in
its third quarter 2017 earnings release on October 31, 2017.
These preliminary, unaudited financial results are based on
management's initial review of operations for the quarter ended
September 30, 2017, and remain
subject to change based on management's ongoing review of the third
quarter results.
While a reconciliation of non-GAAP guidance measures to
corresponding GAAP measures is not available on a forward-looking
basis, MobileIron will provided a reconciliation of GAAP to
non-GAAP financial measures in its quarterly earnings release.
Third Quarter 2017 Earnings Announcement
MobileIron
will report final results for the third quarter of fiscal year 2017
on Tuesday, October 31, 2017 after
the close of the market and host a conference call and live webcast
at 1:30 p.m. Pacific Daylight Time
(4:30 p.m. EDT) to discuss the
company's financial results and business highlights. Interested
parties may access the call by dialing 1-855-327-6837 in the U.S.
or 1-631-891-4304 from international locations. The live webcast
will be available on the MobileIron Investor Relations website at
http://investors.mobileiron.com/. A replay will be available
through the same link.
Safe Harbor Statement
This press release contains
forward-looking statements that involve risks and uncertainties,
including, but not limited to, statements regarding MobileIron's
revenue, operating expenses, cost structure, GAAP and non-GAAP
financial metrics, projected financial results and trends in
MobileIron's business. There are a significant number of factors
that could cause actual results to differ materially from
statements made in this press release, including, but not limited
to, our limited operating history and quarterly fluctuations in our
operating results.
Additional information on potential factors that could affect
MobileIron's financial results is included in our SEC filings,
including our reports on Forms 10-K, 10-Q and 8-K and other filings
that we make with the SEC from time to time and as available on our
website, as applicable. MobileIron does not assume any obligation
to update the forward-looking statements provided to reflect events
that occur or circumstances that exist after the date on which they
were made.
About MobileIron
MobileIron provides the foundation
for companies around the world to transform into Mobile First
organizations. For more information, please visit
www.mobileiron.com.
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SOURCE MobileIron