Finjan Offers Shareholder Update for 3Q 2018
November 13 2018 - 9:00AM
Company to Host Conference Call to Discuss
Year-to-Date 2018 on November 13th at 1:30 PM PT/4:30 PM
ET
Finjan Holdings, Inc. (NASDAQ:FNJN), a cybersecurity company, is
providing shareholders with a financial update and highlight of the
Company’s key accomplishments for the nine months ended September
30, 2018. Additional updates regarding Finjan’s operating
subsidiaries and investments are also highlighted and will be
discussed during the conference call to be held on November 13,
2018 at 1:30 p.m. PT/4:30 p.m. ET.
Financial Highlights for
the First Nine Months of 2018:
- Revenue totaled $82.3 million as compared to $27.1 million for
the comparable period last year, an increase of more than 200%
year-over-year
- Ended the quarter with approximately $51.1 million in cash as
compared to $41.2 million as of December 31, 2017
- Net income was $28.6 million or $1.04 per share as compared to
$8.9 million or $0.36 for the same period a year ago
Financial Results for the Third Quarter of
2018
- Net loss was ($7.6) million or ($0.28) per share compared to a
net loss of ($4.2) million or ($0.16) per share for the same period
a year ago
- Received $1.3 million in the quarter, from prior
contracted licensing agreements
“While our third quarter was light on the deal front we remained
busy with progress in our licensing and litigation pipeline, the
launch or our rebranded consumer VPN, InvinciBullTM and continued
focus on our strategic initiatives,” said Phil Hartstein, President
and CEO of Finjan Holdings. “Looking ahead we continue to evaluate
opportunities to drive future growth including the continued
monetization of the Finjan Inc. patent portfolio, the start of
capitalizing on our broadened portfolio through Finjan Blue, and
explore ways to drive shareholder value.” IP
Licensing and Settlement Updates:
- October 1, 2018: Filed a complaint against Rapid7 and its
affiliates
- October 26, 2018: Filed a complaint against Fortinet
- Actively involved in more than 20 negotiations with prospective
licensees
- Engaged in settlement discussions with a number of
defendants
Enforcement Update and Schedule: November
2018
- ESET German Action: Germany Nullity (i.e. validity) Action will
be heard November 9, 2018, by the German Court
December 2018
- Palo Alto Networks (3:14-cv-04908): Federal Circuit argument on
the ‘494 patent scheduled for December 5, 2018
- Juniper (3:17-cv-05659): mini-trial scheduled for December 10,
2018
Finjan has pending infringement lawsuits against Palo Alto
Networks, ESET and its affiliates, Cisco Systems, Sonicwall,
Bitdefender and its affiliates, Juniper Networks, Zscaler, Check
Point, Rapid7 and its affiliates, and Fortinet relating to,
collectively, more than 20 patents in the Finjan portfolio. The
court dockets for the foregoing cases are publicly available on the
Public Access to Court Electronic Records (PACER) website,
www.pacer.gov, which is operated by the Administrative Office of
the U.S. Courts. Finjan Mobile:
- InvinciBull, a consumer-focused rebranded VPN was launched in
the fiscal third quarter which includes important new additions to
the Finjan Mobile service
- Cost per acquisition of new paid subscribers continues to
decrease
- Completed customer acquisition of Anonymizer user base from
Ntrepid Corporation
Analyst and Investor Call with Management A
shareholder update call to discuss the Company’s third quarter 2018
and other updates is scheduled for 1:30 p.m. Pacific Time on
November 13, 2018. Analysts, investors, and other interested
parties may access the conference call by dialing 1-855-327-6837.
International callers can access the call by dialing
1-778-327-3988. An archived audio replay of the conference call
will be available for 2 weeks beginning at 4:30 pm Pacific Time on
November 13, 2018 and can be accessed by dialing 1-844-512- 2921
and providing access code 10005861. International callers can
access the replay by dialing 1-412-317-6671. The call will also be
archived on Finjan's investor relations website. ABOUT
FINJAN Established more than 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 used to proactively detect
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. Finjan® is the registered
trademark of Finjan Holdings, Inc.; Finjan MobileTM, and
InvinciBullTM are the trademarks of Finjan Holdings, Inc.,
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, the uncertain monetization of
acquired patents, the outcome of strategic transactions, 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, 2017, 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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