Cloud Stocks: Everbridge Widens Products And Partnerships

The current pandemic conditions coupled with other social issues in the country have resulted in businesses driving focus on business continuity. Emergency notifications provider Everbridge (Nasdaq: EVBG) is a provider of a Critical Event Management platform to study ad hoc data feeds and correlate threats with locations of assets and people to ensure a rapid and comprehensive incident assessment and remediation.

Everbridge’s Financials

Q3 revenues grew 36% to $71.3 million, surpassing analyst estimates by 4%. Net loss was $(24.2) million or $(0.70) per share, compared to $(12.9) million or $(0.39) a year ago. Non-GAAP net income per share was $0.06 beating analyst estimates of a loss of $(0.21) per share.

For the current quarter, Everbridge expects revenues of $72.3-$72.7 million and an adjusted income of $0.01-$0.03 per share. It expects to end the year with revenues of $267.8-$268.2 million and a net loss of $0.03-$0.01 per share. The market was looking for revenues of $72.17 million for the quarter with an EPS of $0.10 per share and revenues of $264.91 million for the year with a net loss of $0.10 per share.

Everbridge’s Expanding Offerings

Given the recent spate of racial violence in the country, Everbridge is expanding its focus on the development of the colored community. It recently announced its partnership with the National Black MBA Association (NBMBAA). NBMBAA is a nonprofit dedicated to the intellectual and economic empowerment of the Black community.

As part of the partnership, the two will work together to develop educational opportunities for minority students, entrepreneurs and professionals through a commitment of a safe learning environment. Everbridge will give NBMBAA-affiliated schools Critical Event Management (CEM) technology, thus helping provide a safe college campus environment. It will also establish an internship program allowing students to intern at Everbridge and give them accredited training and work experience.

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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