Everbridge Comments on Letter From Ancora
Everbridge (NASDAQ: EVBG) acknowledges a letter from Ancora Holdings regarding its strategies to enhance shareholder value. The company emphasizes its commitment to open communication and plans to review Ancora’s perspectives. Following leadership changes, Everbridge is refining its business approach, including a pause on new mergers and acquisitions, streamlining product offerings, and enhancing market execution. The company is also searching for a permanent CEO. Everbridge aims to deliver sustainable growth and profitability while strengthening its leadership in critical event management.
- Pause on new M&A to focus on integration and cost reduction.
- Streamlining product offerings to drive productivity.
- Leveraging strong win rates in the public warning market.
- Ongoing search for a permanent CEO may indicate instability in leadership.
Everbridge Comments on Letter From Ancora
Everbridge maintains regular and open communication with our investors, and we value all input that advances our shared goal of enhancing shareholder value. As a matter of practice, we do not comment on engagements with individual investors, but we will review Ancora’s perspectives as we do with those of all shareholders.
Everbridge has a strong foundation as a leader in CEM and national Public Warning. Given the recent change in leadership and developments in our business, the Board and management team undertook a comprehensive review of our strategy and operations to ensure Everbridge is best positioned for the future. Going forward, we are taking action to improve on our strategic direction, go-to-market execution and efficiency. Among the actions underway, Everbridge is pursuing the following:
- Pausing material new M&A and focusing on accelerating integration across our existing assets to provide for greater competitive differentiation, product simplification and lower cost;
- Simplifying product offerings to focus on our four strategic critical event management solutions and drive higher productivity over time;
- Leveraging industry-leading win rates to drive land-and-expand opportunities in the public warning market; and
- Conducting a search for a permanent CEO, considering both internal and external candidates.
We are committed to driving shareholder value and, consistent with that commitment, the Everbridge Board of Directors regularly reviews the Company’s strategy against a range of alternatives. We consider all opportunities to enhance shareholder value and will evaluate Ancora’s perspectives through this lens.
We are confident that the actions we are taking today will help Everbridge deliver unmatched solutions to our customers, position our business to drive attractive, sustainable growth with improved profitability, and generate significant value for our shareholders.
About Everbridge
Everbridge, Inc. (NASDAQ: EVBG) is a global software company that provides enterprise software applications that automate and accelerate organizations’ operational response to critical events in order to Keep People Safe and Organizations Running™. During public safety threats such as active shooter situations, terrorist attacks or severe weather conditions, as well as critical business events including IT outages, cyber-attacks, product recalls or supply-chain interruptions, over 6,100 customers in 76 countries rely on the Company’s Critical Event Management Platform to quickly and reliably aggregate and assess threat data, locate people at risk and responders able to assist, automate the execution of pre-defined communications processes through the secure delivery to over 100 different communication modalities, and track progress on executing response plans. Everbridge serves 8 of the 10 largest
Cautionary Language Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the anticipated opportunity and trends for growth in our critical communications and enterprise safety applications and our overall business, our market opportunity, our expectations regarding sales of our products, our goal to maintain market leadership and extend the markets in which we compete for customers, and anticipated impact on financial results. These forward-looking statements are made as of the date of this press release and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the ability of our products and services to perform as intended and meet our customers’ expectations; our ability to successfully integrate businesses and assets that we may acquire; our ability to attract new customers and retain and increase sales to existing customers; our ability to increase sales of our Mass Notification application and/or ability to increase sales of our other applications; developments in the market for targeted and contextually relevant critical communications or the associated regulatory environment; our estimates of market opportunity and forecasts of market growth may prove to be inaccurate; we have not been profitable on a consistent basis historically and may not achieve or maintain profitability in the future; the lengthy and unpredictable sales cycles for new customers; nature of our business exposes us to inherent liability risks; our ability to attract, integrate and retain qualified personnel; our ability to maintain successful relationships with our channel partners and technology partners; our ability to manage our growth effectively; our ability to respond to competitive pressures; potential liability related to privacy and security of personally identifiable information; our ability to protect our intellectual property rights, and the other risks detailed in our risk factors discussed in filings with the
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Investor Contact:
ICR for Everbridge
ir@everbridge.com
818-230-9712
Media Contact:
Everbridge
jeff.young@everbridge.com
781-859-4116
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