Billion Dollar Unicorns: Everbridge Continues To Soar

The increasing number of terrorist and gun violence attacks have increased the need for an able alert system. Billion Dollar Unicorn player Everbridge (Nasdaq: EVBG) has been leveraging the cloud technology to deliver a communication system that enables customers to automate and accelerate the process of keeping people safe and businesses running during critical events.

Everbridge’s Offerings

Boston-based Everbridge was founded in 2002 after the tragic events of 9/11. The company was set up with a vision to help improve the way that people communicate and locate their people in critical situations. Its SaaS-based communications platform is built on a secure, scalable infrastructure with multiple layers of redundancy to ensure rapid delivery of critical communications, with near real-time verification over numerous devices and contact paths. Communication of critical messages can happen over SMS or email to more than 100 different communication devices over more than 200 countries.

When I had met with Everbridge’s CEO Jaime Ellertson a few years ago, he spoke about Everbridge’s genesis. The company was actually formed by the merger of two companies – Cloudfloor and Everbridge. Cloudfloor helped organizations monitor their cloud instances and spool new instances based on the demands. Meanwhile, Everbridge was operating within the emergency notification space. Since most large incidents don’t happen frequently, the Everbridge platform was not being used continuously. The two companies decided to merge to rebuild a platform with the ability to expand into the cloud and use those resources to supplement core data centres in North America and Europe.

Everbridge’s Financials

Everbridge earns revenues by charging its customers a subscription for access to its critical communications platform. Revenues for the company have grown steadily from $23.4 million in 2012 to $104.35 million last year.

For the current quarter, Everbridge expects revenues of $34-$34.3 million and an adjusted loss of $0.23-$0.22 per share. It expects to end the year with revenues of $138.7-$139.8 million and a net loss of $0.59-$0.57 per share. The market was looking for revenues of $34.2 million for the quarter with a loss of $0.22 per share. The Street had forecast revenues of $139.4 million for the year with a loss of $0.58 per share.

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More investigation and analysis of Unicorn companies can be found in my latest Entrepreneur Journeys book, Billion Dollar Unicorns.


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