Kerching! That's the sound of Barracuda customers feeling the ransomware fear

Barracuda's business grew a little faster as customers continued moving to the public cloud and ransomware scared them into securing their emails. Third quarter fiscal 2017 revenues were $88.8m, a good 10.9 per cent uptick on last year, and a 1 per cent increase sequentially. Net income was $1.8m, 2 per cent of its revenues, …

[toughluck]

Is it just me...

...or does that huge loss in Q4 FY16 look like they cancel out all profit that they made and then some? (I'm not even talking about overshadowing all other losses that they had).

With that huge revenue, they should really be looking at improving their margins.

[DNTP]

Re: Is it just me...

According to Barracuda's blog, they took a $68 million deferred tax asset valuation allowance at the end of 2015. My limited understanding of this is that it is a financial maneuver performed because they have been experiencing long-term losses (thus generating tax credits to offset those losses), but they don't anticipate making profits soon enough to benefit from those tax credits before they expire.

So they create… artificial losses? By arbitrarily taking money out of the company? That somehow help if they don't make money in the future? And then try hard not to make a net profit for the next seven years? Seriously, someone who knows this stuff, please help me out here.

[ecofeco]

The cloud eh?

Yeah, that's much safer.

/sarcasm

Fucking morons.