Q1'21 Results

April 27, 2021

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This presentation includes certain non-GAAP financial measures as defined by the SEC rules. As required by Regulation G, we have provided a reconciliation of those measures to the most directly comparable GAAP measures, which is available in the appendix.

Page 2 ©2021 FireEye

Q1'21 Financial Highlights

  • Exceeded Q1'21 guidance ranges on revenue, non-GAAP gross margin, non-GAAP operating margin and non-GAAP EPS
  • YoY growth rates accelerated for revenue, annualized recurring revenue, and billings
  • Continued shift to strategic growth categories
    • Platform, cloud subscription and managed services revenue up 26% YoY
      • 35% of revenue and 55% of total ARR
      • 45% YoY billings growth "as reported", 58% YoY growth based on "constant ACL"
      • Strength in validation, threat intelligence and cloud endpoint
    • 12th consecutive quarter of record Services revenue
  • Improved metrics in Product and Related Subscriptions and Support category
    • 4th consecutive quarter of improving billings YoY metrics at "constant" average contract length
    • Increasing mix of recurring subscriptions within the category
  • Increased full year 2021 guidance ranges for revenue, non-GAAP gross margin, non-GAAP operating margin, and non-GAAP earnings per share

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Business Transformation Fuels Financial Results

1

Growing Mix of

Strategic Solutions

ROLLING 4-QUARTERS REVENUE

with 3-year CAGR

$962

$794 +19%

2

Record Annualized Recurring Revenue

ANNUALIZED RECURRING

REVENUE

9%

3

Increasing Op Income

and Cash Flow

ROLLING 4-QUARTERS

NON-GAAP

CASH FLOW

OPERATING

FROM

INCOME1

OPERATIONS

$140

+24%

57%

of revenue

YoY

Growth

55%

Q1'21

22%

$643M

Platform, Cloud

$ Millions

$ Millions

$102

-5%

3/31/2018 3/31/2021

Professional services

Platform, cloud sub, and managed svcs Product and related subscription and support

ARR

& MS YoY Growth

45%

-4%

Product-related

Subs & Support

Platform, Cloud & MSYoY Growth

Product-related Subs & Support

$44

$23

$33

$15

$19

$0

3/18

3/19

3/20

3/21

3/18

3/19

3/20

3/21

1. Non-GAAP, reconciliations to the nearest GAAP financial metric available in the Appendix.

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Q1'21 Financial Results

Q1'21 Guidance

Q1'21

Q1'20 Actual

Y/Y

as of 02/02/21

Change

Revenue

$235M

- $238M

$246M

$225M

+10%

Annualized recurring revenue1

n/a

$643M

$590M

+9%

Non-GAAP gross margin2,3

70%

- 71%

73%

71%

+2 pts

Non-GAAP operating margin2,3

6.5%

- 7.5%

9%

-1%

+10 pts

Non-GAAP net income (loss) per share attributable

$0.05

- $0.07

$0.08

$(0.02)

+$0.10

to common stockholders, diluted2

Cash flow provided (used) by operating activities

n/a

$21M

$(24)M

+$45M

Capital expenditures

~ $6M

$10M

$12M

$(2)M

  1. Annualized recurring revenue is defined as the annualized run-rate of active term licenses, subscriptions, and support contracts at the end of a reporting period.
  2. Non-GAAP,reconciliations to the nearest GAAP financial metric available in the Appendix.
  3. As a % of revenue.

Page 5 ©2021 FireEye

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FireEye Inc. published this content on 27 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 April 2021 21:18:04 UTC.