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Press Release: Finjan Delivers Strong Fiscal Year 2017 Results

EAST PALO ALTO, Calif., March 14, 2018 (GLOBE NEWSWIRE) -- 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 FINJAN
Established 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 continu...



Posted: 2018-03-14 20:54:09

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