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Tufin reported a 16% increase in fourth quarter revenue to $35.8 million and a 10% increase in full year revenue to $110.9 million for 2021. Despite the growth in revenue, the company faced a GAAP operating loss of $3.1 million in Q4 and $36.3 million for the year. Notably, subscriptions accounted for 56% of new license bookings, indicating a shift to a subscription-based model. Tufin's cash and equivalents decreased to $89.4 million, down from $104.0 million a year prior, reflecting challenges in cash flow management.
Tufin (NYSE: TUFN) will announce its fourth quarter financial results for the period ending December 31, 2021, on February 10, 2022, before market open. A conference call to discuss these results and the business outlook will take place at 8:00 AM EST on the same day. Investors can participate by calling U.S. 877-407-2988 or internationally at 201-389-0923. The call will also be streamed live on Tufin's Investor Relations website, with an archive accessible afterward.
Tufin (NYSE: TUFN) announced the launch of the Security Policy Builder (SPB) App, designed to automate corporate security access policy creation, significantly reducing the time from months to days. The app integrates with Tufin’s SecureTrack to streamline policy management, ensuring compliance and minimizing breach risks. Additionally, updates to the Rule Lifecycle Management and Workflow Integrator Apps are set to enhance functionality for managing complex network rules and improving decision-making in workflows.
Tufin (NYSE: TUFN) reported third quarter 2021 revenue of $28.0 million, a 9% increase year-over-year, driven by a 17% growth in product revenue to $11.7 million. However, the company faced a GAAP operating loss of $9.0 million compared to $5.0 million last year. Non-GAAP losses also worsened, reaching $5.4 million. Despite these losses, Tufin emphasized strong subscription growth, with 46% of new bookings being subscriptions. The company expects fourth quarter revenues between $30.9 million and $36.9 million.
Tufin (NYSE: TUFN) has announced the release of Tufin Orchestration Suite R21-3, featuring integration with Zscaler Cloud Firewall. This aims to simplify Secure Access Service Edge (SASE) policy management, enhancing visibility and operational efficiency. The update includes a new security policy dashboard for real-time insights, alerts on policy violations, and automated workflows to facilitate data center migrations. This suite is set to be generally available in December, enabling businesses to streamline security management across hybrid cloud environments.
Tufin (NYSE: TUFN) announced that
Tufin aims to assist organizations in balancing security and agility amid increasing complexity in network management, leveraging automation to bridge skills gaps while ensuring compliance.
Tufin (NYSE: TUFN) announced its financial results for Q3, ending September 30, 2021, will be released on November 9, 2021, before market opening. The company will host a conference call at 8:00 AM EDT that day to discuss the financial results and business outlook. Tufin's Orchestration Suite™ helps enterprises manage complex network environments, enhancing agility while ensuring robust security. With over 2,000 customers, Tufin simplifies security management, enabling quick adjustments in network configurations.
Tufin (NYSE: TUFN) has been awarded the title of Policy Management Solution of the Year at the CyberSecurity Breakthrough Awards. This recognition highlights Tufin’s capability to enhance visibility and control for organizations managing complex networks while ensuring compliance with security policies. Their platform automates security policy management across hybrid environments, helping reduce application connectivity times from days to minutes. With over 2,000 customers, Tufin's Orchestration Suite is pivotal in maintaining security while adapting to evolving IT demands.
