February 13th, 2018 by Adam Armstrong
Carbonite Announces Agreement To Acquire Mozy From Dell
Today Carbonite, Inc. announced its fourth quarter and full year 2017 financial results for a period ending December 31, 2017. The company also announced that is has entered into a definitive agreement with Dell Technologies Inc. to acquire Mozy, the online backup, cloud backup, and data backup company. The Mozy deal will expand Carbonite’s customer base and is priced at $145.8 million in cash.
Numbers for the quarter showed the company with revenue of $61.7 million, 15% over the same time a year ago. Carbonite saw fourth quarter bookings increase 11% to $60.2 million. Gross margin was 72.8% GAAP and 77.6% non-GAAP. The company is reporting a net loss of $1.6 million or $0.06 per diluted share. Cash flow from operations for the quarter was $13.9 million and adjusted free cash flow as $9.7 million.
The numbers for the year showed Carbonite with revenue of $239.5 million or up 16% from 2016. Bookings were up 17% or $245.9 million. Gross margin was reported as 70.7% GAAP and 75.5% non-GAAP. The company is reporting a net loss of $4 million, or $0.14 per diluted share, for 2017. Total cash and cash equivalents were reported as $128.2 million up form $59.2 million in 2016. Cash flow from operations for the year was $31.3 million and free cash flow was $20.2 million.