Cybersecurity vendor FireEye has reported its first ever quarterly profit since listing on the New York Stock Exchange in 2013.
For the three months ending 31 December 2017, FireEye saw a year-on-year revenue increase of 10 per cent to $202.3m (£145.3m), with an operating loss of $65.8m.
However, with the numbers adjusted, the vendor reported a non-GAAP operating profit of $2.9m.
On an earnings call transcribed by Seeking Alpha, FireEye CEO Kevin Mandia said: "In February 2017 we said FireEye was committed to achieving non-GAAP operating profitability in the fourth quarter and a return to growth by the end of the year; I'm proud to tell you we accomplished what we said we would do."
"To put this performance into context, from Q1 of 2014 through [to] the second quarter of 2016 we posted 10 consecutive quarters of non-GAAP operating losses between $45m and $80m.
"We worked hard over the last six quarters to be much more efficient and to return to growth."
Mandia said that FireEye's end-point protection, threat intelligence and Mandiant services arms all had their best ever quarters, and singled out the channel as playing a key role in the improved financial performance.
At the end of 2016 Mandia told CRN that FireEye was morphing internally to make it more channel friendly, in particular by making its products more accessible to smaller organisations with more limited budgets, which can be served by smaller channel partners.
"We have also worked hard to improve our channel relationships, which is enabling us to reach new markets and achieve gains in our operating leverage," he said.
"I am pleased to see our channel business increasing and believe we will see continued improvement in our channel as a result of our commitment to our strategy around the three 'P's: product, price, and process.
"We continue to innovate to provide better products to the channel. We continue to price more appropriately for the channel and we are also adhering to a consistent process with our channel and partners to provide better enablement and make doing business with FireEye simpler, more profitable, and consistent."
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