Tufin Announces Fourth Quarter and Full Year 2021 Results
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.
- Fourth quarter revenue increased by 16% year-over-year to $35.8 million.
- Full year revenue reached a record $110.9 million, a 10% increase from 2020.
- Product revenue grew by 20% for the full year to $46.6 million.
- Company signed a record number of larger deals, including its largest deal in three years.
- Introduced the Security Policy Builder App, enhancing security policy automation.
- GAAP operating loss for the fourth quarter was $3.1 million.
- Full year GAAP operating loss increased to $36.3 million from $33.9 million in 2020.
- Net loss for the fourth quarter was $4.0 million, slightly improved from $4.4 million in Q4 2020.
- Total cash and equivalents decreased from $104.0 million to $89.4 million year-over-year.
Fourth quarter revenue of
Fourth quarter GAAP operating loss of
Full year revenue of
Full year GAAP operating loss of
“I am pleased to report another strong quarter, bolstered by healthy growth in new logos, as well as continued momentum in our land-and-expand with existing customers,” said
Kitov continued, “We are experiencing increased awareness of security breaches and corporations are allocating more resources to implement policy-driven automation to address the security threats of tomorrow. We are proud of the progress we’ve made as we reach the one-year mark of announcing the transition to subscription, and are continuing to execute on our strategic objectives in 2022.”
Financial Highlights for the Fourth Quarter Ended
Revenue:
-
Total revenue was
$35.8 million 16% compared with the fourth quarter of 2020. -
Product revenue was
$19.1 million 27% compared with the fourth quarter of 2020. -
Maintenance and professional services revenue was
$16.8 million 5% compared with the fourth quarter of 2020.
Gross Profit:
-
GAAP gross profit was
$29.7 million 83% of total revenue, compared to$25.6 million 83% of total revenue. -
Non-GAAP gross profit was
$30.1 million 84% of total revenue, compared to$26.1 million 84% of total revenue.
Operating Income (Loss):
-
GAAP operating loss was
$3.1 million $3.5 million -
Non-GAAP operating income was
$0.1 million $0.4 million
Net Loss:
-
GAAP net loss was
$4.0 million $0.11 $4.4 million $0.12 -
Non-GAAP net loss was
$1.6 million $0.04 $1.0 million $0.03
Financial Highlights for the Full Year Ended
Revenue:
-
Total revenue was
$110.9 million 10% compared with 2020. -
Product revenue was
$46.6 million 20% compared with 2020. -
Maintenance and professional services revenue was
$64.4 million 4% compared with 2020.
Gross Profit:
-
GAAP gross profit was
$87.8 million 79% of total revenue, compared to$80.6 million 80% of total revenue. -
Non-GAAP gross profit was
$89.6 million 81% of total revenue, compared to$82.6 million 82% of total revenue.
Operating Loss:
-
GAAP operating loss was
$36.3 million $33.9 million -
Non-GAAP operating loss was
$22.4 million $18.5 million
Net Loss:
-
GAAP net loss was
$36.9 million $0.99 $35.4 million $0.99 -
Non-GAAP net loss was
$25.8 million $0.69 $20.6 million $0.58
Balance Sheet and Cash Flow:
-
Cash flow used in operating activities during the twelve months ended
December 31, 2021 was$14.2 million $17.4 million December 31, 2020 . -
Total cash, cash equivalents, restricted cash and marketable securities as of
December 31, 2021 were$89.4 million $104.0 million December 31, 2020 .
The tables at the end of this press release include a reconciliation of GAAP to non-GAAP gross profit, operating income and net income for the three and twelve months ended
Recent Business Highlights
- Introduced Security Policy Builder App to Marketplace which automates the design of corporate security access policies across the hybrid environment, reducing complexity and time for organizations.
- Tufin Orchestration Suite Named Best Network Security Solution by the 2021 Tech Ascension Awards.
- Extended Security Policy Management Leadership to SASE which provides unified visibility and simplified policy management for cloud-enabled organizations.
- Named Policy Management Solution of the Year by CyberSecurity Breakthrough Awards.
- Signed largest deal in the past three years.
Business Outlook
Based on information available as of
First Quarter 2022:
-
Total revenue between
$23.0 $27.0 million -
Non-GAAP operating loss between
$11.5 $8.1 million
Full Year 2022:
-
Total revenue between
$123.0 $129.0 million -
Non-GAAP operating loss between
$28.9 $23.8 million
Conference Call Information
In conjuntion with this announcement, the Company will host a conference call today,
Following the conference call, an archive of the webcast will be available on the investor relations section of the Company website three hours after the live call ends.
About Tufin
Non-GAAP Financial Measures
We believe that providing non-GAAP financial measures that exclude, as applicable, share-based compensation expense and certain non-recurring costs, as well as, the tax effect of these non-GAAP adjustments, allows for more meaningful comparisons between our operating results from period to period. These non-GAAP financial measures are an important tool for financial and operational decision-making and for evaluating our operating results over different periods:
- We define non-GAAP gross profit as gross profit excluding share-based compensation expense.
- We define non-GAAP operating income (loss) as operating income (loss) excluding share-based compensation expense, shelf registration costs and one-time expenses associated with the reorganization of one of our subsidiaries.
- We define non-GAAP net income (loss) as net income (loss) excluding share-based compensation expense, shelf registration costs and one-time expenses associated with the reorganization of one of our subsidiaries and the tax effect of these non-GAAP adjustments.
Because of varying available valuation methodologies, subjective assumptions and the variety of equity instruments that can impact a company’s non-cash expense, we believe that providing non-GAAP financial measures that exclude non-cash share-based compensation expense allow for more meaningful comparisons between our operating results from period to period. In addition, we believe that providing non-GAAP financial measures that exclude shelf registration costs and one-time expenses associated with the reorganization of one of our subsidiaries allow for more meaningful comparisons between our operating results from period to period since these non-recurring costs are not representative or indicative of our ongoing operations. We also believe that the tax effects related to the non-GAAP adjustments set forth above do not reflect the performance of our core business and would impact period-to-period comparability.
Other companies, including companies in our industry, may calculate non-GAAP gross profit, non-GAAP operating income (loss) and non-GAAP net income (loss) differently or not at all, which reduces the usefulness these non-GAAP financial measures for comparison. You should consider these non-GAAP financial measures along with other financial performance measures, including gross profit, operating income (loss) and net income (loss), and our financial results presented in accordance with
Guidance for non-GAAP financial measures excludes, as applicable, share-based compensation expense and certain non-recurring costs, as applicable. A reconciliation of the non-GAAP financial measures guidance to the corresponding GAAP measures is not available on a forward-looking basis due to the uncertainty regarding, and the potential variability and significance of, the amounts of share-based compensation expense and certain non-recurring costs, as applicable, that are excluded from the guidance. Accordingly, a reconciliation of the non-GAAP financial measures guidance to the corresponding GAAP measures for future periods is not available without unreasonable effort.
Cautionary Language Concerning Forward-Looking Statements
This release contains forward-looking statements, which express the current beliefs and expectations of Tufin’s management. In some cases, forward-looking statements may be identified by terminology such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential” or the negative of these terms or other similar expressions. Such statements involve a number of known and unknown risks and uncertainties that could cause the Company’s future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to: the impact of the novel coronavirus (“COVID-19”) on the budgets of our clients and on economic conditions generally; successful management of our business model, as well as current and future growth, particularly with respect to our plans to transition to a subscription-based business model over time; political conditions and economic downturns, particularly in the areas where we operate; compliance, managerial and regulatory risks associated with international sales and operations; our expectation that policy-centric, automated solutions will garner a growing share of enterprise security spending; our expectations for growth in certain key verticals and geographic regions and our intention to expand internationally; our ability to maintain effective internal controls over financial reporting; our expectations concerning seasonality and the predictability of our sales cycle; our expectations regarding customer relationships developed by our hybrid sales model; our expectations regarding customer relationships, including our ability to acquire new customers or sell additional products and services to existing customers; competition from a wide variety of competitive vendors; our ability to compete and increase positive market awareness of our brand; our ability to align future and past performance by generating sufficient revenue; the compatibility of our offerings with the existing technologies of our customers; plans to deploy additional cloud-based subscription products over time; reliance on certain products and customers to generate large portions of our revenue, as well as reliance on a single third-party manufacture to fulfill certain orders; our intention to make further investments in our products, including the Tufin Orchestration Suite; our expectations regarding sales of our newest business product, SecureCloud, as well as sales driven by channel partners and technology alliance partners through joint selling efforts; out dependence on a single manufacturer to fulfill certain software license orders; the effect of cybersecurity threats or attacks on our technologies, products or services; real or perceived shortcomings, defects or vulnerabilities in our solutions or internal network system; compliance with laws, regulations and requirements in the jurisdictions where we operate; expectations regarding the outcome of current litigation; ability to protect and defend our intellectual property rights; effectively managing, investing in, growing and maintaining key personnel; growth in the enterprise security and network management product markets; volatility of our share price and trading market activity; impact of being incorporated and located in
|
||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||||
|
||||||||
(Unaudited) |
||||||||
|
|
|
|
|
|
|
||
|
|
2020 |
|
|
2021 |
|
||
Assets |
|
|
|
|
|
|
||
CURRENT ASSETS: |
|
|
|
|
|
|
||
Cash and cash equivalents |
|
|
58,449 |
|
|
|
44,439 |
|
|
|
|
|
|
|
|
|
|
|
|
|
19,586 |
|
|
|
18,177 |
|
Accounts receivable (net of allowance for credit losses of
and |
|
|
16,674 |
|
|
|
19,156 |
|
Prepaid expenses and other current assets |
|
|
7,159 |
|
|
|
8,765 |
|
Total current assets |
|
|
101,868 |
|
|
|
90,537 |
|
NON-CURRENT ASSETS: |
|
|
|
|
|
|
|
|
Long-term restricted bank deposits |
|
|
3,268 |
|
|
|
3,251 |
|
|
|
|
22,705 |
|
|
|
23,514 |
|
Property and equipment, net |
|
|
4,502 |
|
|
|
5,007 |
|
Operating lease assets |
|
|
18,802 |
|
|
|
16,457 |
|
Deferred costs |
|
|
6,348 |
|
|
|
8,728 |
|
Deferred tax assets |
|
|
1,346 |
|
|
|
2,533 |
|
Other non-current assets |
|
|
1,512 |
|
|
|
1,366 |
|
Total non-current assets |
|
|
58,483 |
|
|
|
60,856 |
|
Total assets |
|
|
160,351 |
|
|
|
151,393 |
|
|
||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS |
||||||||
|
||||||||
(Unaudited) |
||||||||
|
|
|
|
|
|
|
||
|
|
2020 |
|
|
2021 |
|
||
LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
|
|
||
CURRENT LIABILITIES: |
|
|
|
|
|
|
||
Accounts payable |
|
|
4,147 |
|
|
|
5,191 |
|
Employee and payroll accrued expenses |
|
|
17,985 |
|
|
|
21,123 |
|
Other accounts payable |
|
|
578 |
|
|
|
677 |
|
Operating lease liabilities – current |
|
|
3,185 |
|
|
|
3,437 |
|
Deferred revenues |
|
|
24,940 |
|
|
|
28,386 |
|
Total current liabilities |
|
|
50,835 |
|
|
|
58,814 |
|
NON-CURRENT LIABILITIES: |
|
|
|
|
|
|
|
|
Long-term deferred revenues |
|
|
12,815 |
|
|
|
18,740 |
|
Non-current operating lease liabilities |
|
|
20,240 |
|
|
|
17,837 |
|
Other non-current liabilities |
|
|
1,282 |
|
|
|
1,681 |
|
Total non-current liabilities |
|
|
34,337 |
|
|
|
38,258 |
|
Total liabilities |
|
|
85,172 |
|
|
|
97,072 |
|
COMMITMENTS AND CONTINGENCIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS’ EQUITY: |
|
|
|
|
|
|
|
|
Ordinary shares of |
|
|
148 |
|
|
|
157 |
|
Additional paid-in capital |
|
|
178,864 |
|
|
|
195,041 |
|
Accumulated other comprehensive income (loss) |
|
|
5 |
|
|
|
(113) |
|
Accumulated deficit |
|
|
(103,838) |
|
|
|
(140,764) |
|
TOTAL SHAREHOLDERS’ EQUITY |
|
|
75,179 |
|
|
|
54,321 |
|
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
160,351 |
|
|
|
151,393 |
|
|
||||||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS |
||||||||||||||||||||
|
||||||||||||||||||||
(Unaudited) |
||||||||||||||||||||
|
Three Months Ended |
Year Ended |
|
|
||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
|
2021 |
|
||||||||
Revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Product |
|
14,985 |
|
|
19,081 |
|
|
38,690 |
|
|
|
46,593 |
|
|
||||||
Maintenance and professional services |
|
15,967 |
|
|
16,755 |
|
|
62,144 |
|
|
|
64,356 |
|
|
||||||
Total revenues |
|
30,952 |
|
|
35,836 |
|
|
100,834 |
|
|
|
110,949 |
|
|
||||||
Cost of revenues: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Product |
|
1,204 |
|
|
1,116 |
|
|
2,940 |
|
|
|
3,291 |
|
|
||||||
Maintenance and professional services |
|
4,150 |
|
|
4,984 |
|
|
17,307 |
|
|
|
19,821 |
|
|
||||||
Total cost of revenues |
|
5,354 |
|
|
6,100 |
|
|
20,247 |
|
|
|
23,112 |
|
|
||||||
Gross profit |
|
25,598 |
|
|
29,736 |
|
|
80,587 |
|
|
|
87,837 |
|
|
||||||
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Research and development |
|
8,696 |
|
|
9,856 |
|
|
34,978 |
|
|
|
39,584 |
|
|
||||||
Sales and marketing |
|
15,031 |
|
|
16,691 |
|
|
59,484 |
|
|
|
60,378 |
|
|
||||||
General and administrative |
|
5,332 |
|
|
6,291 |
|
|
20,050 |
|
|
|
24,204 |
|
|
||||||
Total operating expenses |
|
29,059 |
|
|
32,838 |
|
|
114,512 |
|
|
|
124,166 |
|
|
||||||
Operating loss |
|
(3,461) |
|
|
(3,102) |
|
|
(33,925) |
|
|
|
(36,329) |
|
|
||||||
Financial income (expense), net |
|
(562) |
|
|
(478) |
|
|
114 |
|
|
|
(1,104) |
|
|
||||||
Loss before taxes on income |
|
(4,023) |
|
|
(3,580) |
|
|
(33,811) |
|
|
|
(37,433) |
|
|
||||||
Taxes on income |
|
(379) |
|
|
(452) |
|
|
(1,595) |
|
|
|
507 |
|
|
||||||
Net loss |
|
(4,402) |
|
|
(4,032) |
|
|
(35,406) |
|
|
|
(36,926) |
|
|
||||||
Basic and diluted net loss per ordinary share |
|
(0.12) |
|
|
(0.11) |
|
|
(0.99) |
|
|
|
(0.99) |
|
|
||||||
Weighted average number of shares used in computing net loss per ordinary share- basic and diluted |
|
35,833 |
|
|
37,807 |
|
|
35,674 |
|
|
|
37,180 |
|
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Share-based Compensation Expense: |
|
|
|
|
|||||||||||||||||
|
Three Months Ended |
|
|
Year Ended |
|
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
|||||||||
Cost of revenues |
488 |
|
|
358 |
|
|
2,024 |
|
|
1,812 |
|
|
|
|
|
||||||
Research and development |
|
1,010 |
|
|
659 |
|
|
4,437 |
|
|
3,867 |
|
|
||||||||
Sales and marketing |
|
1,308 |
|
|
1,035 |
|
|
4,635 |
|
|
3,772 |
|
|
||||||||
General and administrative |
|
1,035 |
|
|
1,130 |
|
|
3,929 |
|
|
4,445 |
|
|
||||||||
Total share-based compensation expense |
|
3,841 |
|
|
3,182 |
|
|
15,025 |
|
|
13,896 |
|
|
||||||||
|
|
||||||||||||||||||||
|
||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
||||||||
|
||||||||
(Unaudited) |
||||||||
|
|
Year Ended |
|
|||||
|
|
|
|
|||||
|
|
2020 |
|
|
2021 |
|
||
CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
|
|
|
|
||
Net loss |
|
|
(35,406) |
|
|
|
(36,926) |
|
Adjustment to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
|
|
Depreciation |
|
|
1,523 |
|
|
|
1,904 |
|
Share-based compensation |
|
|
15,025 |
|
|
|
13,896 |
|
Amortization of premium and accretion of discount on marketable securities, net |
|
|
95 |
|
|
|
308 |
|
Exchange rate differences on cash, cash equivalents and restricted cash |
|
|
(1,146) |
|
|
|
179 |
|
|
|
|
|
|
|
|
|
|
Change in operating assets and liabilities items: |
|
|
|
|
|
|
|
|
Accounts receivable, net |
|
|
(452) |
|
|
|
(2,482) |
|
Prepaid expenses and other current assets |
|
|
(2,640) |
|
|
|
(2,174) |
|
Deferred costs |
|
|
(665) |
|
|
|
(2,344) |
|
Deferred taxes |
|
|
313 |
|
|
|
(1,187) |
|
Other non-current assets |
|
|
62 |
|
|
|
146 |
|
Accounts payable |
|
|
(247) |
|
|
|
1,044 |
|
Employee and payroll accrued expenses |
|
|
3,275 |
|
|
|
3,627 |
|
Other accounts payable and non-current liabilities |
|
|
(416) |
|
|
|
202 |
|
Net change in operating lease accounts |
|
|
1,048 |
|
|
|
194 |
|
Deferred revenues |
|
|
2,192 |
|
|
|
9,371 |
|
Net cash used in operating activities |
|
|
(17,439) |
|
|
|
(14,242) |
|
CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
|
|
|
|
|
|
Purchase of fixed assets |
|
|
(2,070) |
|
|
|
(1,678) |
|
Investment in marketable securities |
|
|
(44,381) |
|
|
|
(29,227) |
|
Proceeds from maturities of marketable securities |
|
|
2,069 |
|
|
|
29,414 |
|
|
|
|
|
|
|
|
|
|
Net cash used in investing activities |
|
|
(44,382) |
|
|
|
(1,491) |
|
CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
|
|
|
|
|
|
Proceeds from exercise of stock options |
|
|
1,376 |
|
|
|
2,374 |
|
Changes in proceeds from withholdings related to stock plans |
|
|
(713) |
|
|
|
(489) |
|
|
|
|
|
|
|
|
|
|
Net cash provided by financing activities |
|
|
663 |
|
|
|
1,885 |
|
Effect of exchange rate changes on cash, cash equivalents and restricted cash |
|
|
1,146 |
|
|
|
(179) |
|
|
|
|
|
|
|
|
|
|
DECREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH |
|
|
(60,012) |
|
|
|
(14,027) |
|
|
|
|
|
|
|
|
|
|
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF YEAR |
|
|
121,729 |
|
|
|
61,717 |
|
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR |
|
|
61,717 |
|
|
|
47,690 |
|
|
|
|
|
|
|
|
|
|
Reconciliation of Gross Profit to Non-GAAP Gross Profit: |
|
|
|
|||||||||||||
|
|
|
|
|||||||||||||
|
Three Months Ended |
|
|
Year Ended |
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|||||
Gross profit |
25,598 |
|
|
29,736 |
|
|
80,587 |
|
|
87,837 |
|
|||||
Plus: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Share-based compensation |
|
488 |
|
|
358 |
|
|
2,024 |
|
|
|
1,812 |
|
|||
Non-GAAP gross profit |
|
26,086 |
|
|
30,094 |
|
|
82,611 |
|
|
|
89,649 |
|
|||
|
|
|||||||||||||||
Reconciliation of Operating Loss to Non-GAAP Operating Income (Loss):
|
|
|
|
|||||||||||||
|
Three Months Ended |
|
|
Year Ended |
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|||||
Operating loss |
(3,461) |
|
|
(3,102) |
|
|
(33,925) |
|
|
(36,329) |
|
|||||
Plus: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Share-based compensation |
|
3,841 |
|
|
3,182 |
|
|
15,025 |
|
|
|
13,896 |
|
|||
Shelf registration costs |
|
- |
|
|
- |
|
|
126 |
|
|
|
- |
|
|||
One-time reorganization charges |
|
- |
|
|
- |
|
|
322 |
|
|
|
- |
|
|||
|
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|||
Non-GAAP Operating income (loss) |
|
380 |
|
|
80 |
|
|
(18,452) |
|
|
|
(22,433) |
|
|||
|
|
|||||||||||||||
|
|
|||||||||||||||
Reconciliation of Net Loss to Non-GAAP Net Loss:
|
|
|
|
|||||||||||||
|
Three Months Ended |
|
|
Year Ended |
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
2020 |
|
|
2021 |
|
|
2020 |
|
|
2021 |
|
|||||
Net loss |
(4,402) |
|
|
(4,032) |
|
|
(35,406) |
|
|
(36,926) |
|
|||||
Plus: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Share-based compensation |
|
3,841 |
|
|
3,182 |
|
|
15,025 |
|
|
|
13,896 |
|
|||
Shelf registration costs |
|
- |
|
|
- |
|
|
126 |
|
|
|
- |
|
|||
One-time reorganization charges |
|
- |
|
|
- |
|
|
322 |
|
|
|
- |
|
|||
Taxes on income related to non-GAAP adjustments |
|
(416) |
|
|
(713) |
|
|
(701) |
|
|
|
(2,790) |
|
|||
Non-GAAP Net loss |
|
(977) |
|
|
(1,563) |
|
|
(20,634) |
|
|
|
(25,820) |
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Non-GAAP net loss per share - basic and diluted |
|
(0.03) |
|
|
(0.04) |
|
|
(0.58) |
|
|
|
(0.69) |
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Weighted average number of shares – basic and diluted |
|
35,833 |
|
|
37,807 |
|
|
35,674 |
|
|
|
37,180 |
|
|||
|
|
|||||||||||||||
About Tufin
Find out more at: www.tufin.com
Follow Tufin on Twitter: @TufinTech
Read more on Tufin’s blog: Suite Talk
View source version on businesswire.com: https://www.businesswire.com/news/home/20220210005373/en/
Investor Relations:
investors@tufin.com
Corporate Communications Manager
susan.rivera@tufin.com
Source: Tufin
FAQ
What were Tufin's fourth quarter 2021 financial results?
How did Tufin's full year revenue perform in 2021?
What significant deals did Tufin announce for 2021?
What is Tufin's revenue forecast for Q1 2022?
What was Tufin's cash position as of December 31, 2021?
