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Zix stock flying high after strong 1Q results, positive guidance

The email security company acquired AppRiver and closed a deal with a top-five US bank during the quarter

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Earnings came in at $0.04 per share, and revenue jumped 76% to $29.3 million

Zix Corporation (NASDAQ:ZIXI), an email security company, is soaring after its first-quarter results topped expectations.

Earnings came in at $0.04 per share, and revenue jumped 76% to $29.3 million. Analysts had called for EPS of $0.04 on revenue of $27.5 million.

Shares surged nearly 28% to $10.48.

The Dallas company offered second-quarter EPS guidance between $0.11 and $0.12 on revenue between $44.5 million and $45 million. Street analysts expect $0.09 EPS on revenue of $45.7 million.

READ: Zix agrees to acquire cloud-based cybersecurity provider AppRiver for $275M in cash

“The first quarter of 2019 was positive in a number of meaningful ways,” CEO David Wagner said. “We closed the acquisition of AppRiver, successfully executed on our previously communicated cost-savings initiatives, and delivered 20% plus growth of Monthly Recurring Revenue (MRR) at AppRiver along with 74% new first year orders growth at Zix. We topped off Q1 by winning the largest deal in the company’s history with a top 5 US bank.”

AppRiver, a cloud cybersecurity firm, was acquired by Zix in February.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: Zix Corporation

Price: 6.23 USD

NASDAQ:ZIXI
Market: NASDAQ
Market Cap: $354.65 m
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