Page 1

everbridge Everbridge Announces Strong First Quarter 2021 Financial Results Highlighted by 40 % Revenue Growth Year Over Year May 10 , 2021 First Quarter Revenue Exceeds High - End of Guidance by Record $ 6.5 million Operating Cash Flow Reaches New Quarterly High of $ 19.8 Million BURLINGTON , Mass .-- ( BUSINESS WIRE ) -- May 10 , 2021-- Everbridge , Inc. ( NASDAQ : EVBG ) , the global leader in critical event management ( CEM ) , today announced its financial results for the first quarter ended March 31 , 2021 . " We are off to a great start to the year , delivering a record revenue beat with continued momentum for large transactions and establishing a new high watermark for our average selling price , " said David Meredith , Chief Executive Officer of Everbridge . " Our top - line outperformance flowed through to our bottom line results . During the first quarter , we saw healthy demand for our Critical Event Management SaaS platform and we announced an expansion of our offering to provide the most comprehensive integrated suite of digital and physical resiliency solutions for global organizations in the post - pandemic world . Another recent highlight was the completion of our acquisition of xMatters . The combination of Everbridge and xMatters will digitally transform how organizations manage , respond to , and mitigate IT and cyber incidents , helping organizations protect and enable revenue while reducing expenses . " First Quarter 2021 Financial Highlights • Total revenue was $ 82.2 million , an increase of 40 % compared to $ 58.9 million for the first quarter of 2020 . • GAAP operating loss was $ ( 18.2 ) million , compared to $ ( 21.7 ) million for the first quarter of 2020 . • Non - GAAP operating income was $ 2.3 million , compared to non - GAAP operating loss of $ ( 7.2 ) million for the first quarter of 2020 . • GAAP net loss was $ ( 21.8 ) million , compared to $ ( 25.4 ) million for the first quarter of 2020. GAAP net loss per share was $ ( 0.60 ) , based on 36.4 million basic and diluted weighted average common shares outstanding , compared to $ ( 0.74 ) for the first quarter of 2020 , based on 34.1 million basic and diluted weighted average common shares outstanding . • Non - GAAP net income was $ 8.0 million , compared to non - GAAP net loss of $ ( 5.5 ) million in the first quarter of 2020 . Non - GAAP diluted net income per share was $ 0.18 , based on 43.6 million diluted weighted average common shares outstanding , compared to non - GAAP net loss per share of $ ( 0.16 ) for the first quarter of 2020 , based on 34.1 million basic and diluted weighted average common shares outstanding . • Adjusted EBITDA was $ 5.3 million , compared loss of $ ( 4.8 ) million in the first quarter of 2020 . • Cash flow from operations was an inflow of $ 19.8 million , reaching a new record level , compared to an inflow of $ 0.8 million for the first quarter of 2020 . • Free cash flow was an inflow of $ 15.5 million , compared to an outflow of $ ( 1.7 ) million for the first quarter of 2020 . Recent Business Highlights • Ended the first quarter with 5,748 global enterprise customers , up from 5,218 at the end of the first quarter of 2020 . • Ranked in the top 50 across over 60,000 U.S. companies for each of the four categories of Best Company Outlook , Best Global Culture , Best Sales Team , and Best Places to Work , as awarded by Comparably based on employee sentiment . • Signed a new three - year contract with the U.S. Army for its software solutions to power JARVISS , the U.S. DoD's enterprise system for threat visibility . The new contract also includes two U.S. Air Force ( USAF ) major and subordinate commands - Air Force Materiel Command ( AFMC ) and Air Force North ( AFNORTH ) , which committed to adopting JARVISS to advance their respective threat information sharing and anal tics capabilities . • Announced that one of the world's largest intergovernmental organizations , deployed across dozens of countries , selected the company's Vaccine Distribution software platform to help manage the scheduling , tracking and communications of millions of vaccine doses across remote and mobile workers around the globe . • Announced expanding presence in Asia Pacific ( APAC ) , supporting customers across 18 countries in APAC leveraging Everbridge's market - leading CEM platform and Public Warning solution . • Expanded its end - to - end market - leading and global Critical Event Management ( CEM ) SaaS platform , unveiling the most comprehensive integrated suite of digital and physical resiliency solutions for global organizations preparing for the new normal ' in the post - pandemic world . • Granted a new patent related to its revolutionary world class Public Warning system . The patent pertains to technology focused on hybrid population alerting systems and intelligent sending of messages in public mobile networks . • Announced the next generation of the industry - leading Resident Connection solution designed to expand the reach of first