Intelligent Protection Management Q2 revenue rises
Intelligent Protection Management Q2 revenue rises
Overview
US cybersecurity solutions provider's Q2 revenue rose 13% yr/yr
Net loss for Q2 widened
Adjusted EBITDA loss for Q2 increased to $0.6 mln from $0.4 mln yr/yr
Outlook
Company expects to recognize deferred revenue from pending product shipments in future quarters
Company says it is diversifying suppliers to better manage supply chain constraints going forward
Result Drivers
PROCUREMENT REVENUE - Co said a 64% increase in procurement revenue, driven by customer demand for AI-related equipment, contributed to Q2 growth
NEW AND EXPANDED CUSTOMER SALES - Co attributed revenue growth to generating new customers and expanding sales to existing customers
SUPPLY CHAIN CONSTRAINTS - Co experienced supply chain issues that delayed shipments, resulting in some revenue being deferred to future quarters
Company press release: ID:nACSqHq4qa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $6.50 mln | $6.35 mln (1 Analyst) |
Q2 Adjusted EBITDA | Miss | -$600,000 | $3,000 (1 Analyst) |
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the business support services peer group is "buy"
Wall Street's median 12-month price target for Intelligent Protection Management Corp is $6.50, about 236.8% above its August 10 closing price of $1.93
The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 17 three months ago
Reuters Recommended Reads
Aug 10 - N-Able Q2 revenue slightly beats estimates on AI-powered cybersecurity growth
Aug 10 - Rapid7's Q2 revenue, adj EPS beat analyst estimates
Aug 10 - Quantum Corp's Q1 revenue rises on storage solutions demand, flags supply constraints
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
Recent news on Intelligent Protection Management
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Intelligent Protection Management Corp reports results for the quarter ended June 30 - Earnings Summary