Exhibit 99.2
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INVESTOR CONFERENCE CALL
January 20, 2016 1
SAFE HARBOR STATEMENT
This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include information concerning: our expectations, beliefs, plans, intentions and strategies relating to our acquisition of iSIGHT Partners; possible or assumed future results of operations, financial metrics and goals; business strategies and our ability to execute those strategies successfully; financing plans; competitive position; threat landscape; industry environment; strategic and enterprise opportunities and partnerships; potential growth opportunities; potential market opportunities; and future or enhanced offerings.
Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipates,” “believes,” “could,” “seeks,” “estimates,” “intends,” “may,” “plans,” “potential,” “predicts,” “projects,” “should,” “will,” “would” or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, the failure to achieve expected synergies and efficiencies of operations between FireEye and iSIGHT; the ability of FireEye and iSIGHT to successfully integrate their respective market opportunities, technology, offerings, personnel and operations; the failure to timely develop and achieve market acceptance of combined offerings; the potential impact on the business of iSIGHT as a result of the acquisition; the loss of any iSIGHT customers; the ability to coordinate strategy and resources between FireEye and iSIGHT; the ability of FireEye and iSIGHT to retain and motivate key employees of iSIGHT; customer demand and adoption of FireEye’s products and services; real or perceived defects, errors or vulnerabilities in our products or services; our ability to react to trends and challenges in its business and the markets in which we operate; our ability to anticipate market needs or develop new or enhanced products and services to meet those needs; our ability to hire and retain critical executives and key employees; our ability to attract new and retain existing customers and expand and train our sales force; the budgeting cycles, seasonal buying patterns and length of our sales cycle; and general market, political, economic, and business conditions; as well as those risks and uncertainties included under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in our Form 10-Q filed with the Securities and Exchange Commission on November 5, 2015, which is available on the Investor Relations section of our website at investors.FireEye.com. All forward-looking statements are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made. Any future offering, feature, or related specification that may be referenced in this presentation is for information purposes only and is not a commitment to deliver any offering, technology or enhancement. We reserve the right to modify future product and service plans at any time.
In addition, the preliminary financial results provided in this presentation are based on our current estimates for the fourth quarter of 2015 and remain subject to change based on our ongoing review of results and the subsequent occurrence or identification of events prior to closing of the review and any further adjustments made in connection with our closing and review procedures.
This presentation also includes certain non-GAAP financial measures as defined by the SEC rules. As required by Regulation G, we have provided a reconciliation of those measures to the most directly comparable GAAP measures, which is available in the appendix.
Copyright © 2016, FireEye, Inc. All rights reserved.
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TODAY’S SPEAKERS
DAVE DEWALT, CHAIRMAN OF THE BOARD AND CEO
MIKE BERRY, CHIEF FINANCIAL OFFICER
Copyright © 2016, FireEye, Inc. All rights reserved.
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TODAY’S TOPICS
PRELIMINARY Q4’15 FINANCIAL RESULTS
ACQUISITION OF iSIGHT PARTNERS, A MARKET LEADER IN CYBER THREAT INTELLIGENCE WITH A WELL-KNOWN BRAND AND INTELLIGENCE RESOURCES DEPLOYED ACROSS THE GLOBE
FIREEYE PLATFORM EVOLUTION AND TAM EXPANSION WITH SEGMENTED OFFERINGS
Copyright © 2016, FireEye, Inc. All rights reserved.
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Q4’15 PRELIMINARY RESULTS1
TOTAL BILLINGS IN THE RANGE OF $256 TO $257 MILLION 2
TOTAL REVENUE IN THE RANGE OF $184 TO $185 MILLION
RECORD NUMBER OF NEW LOGO CUSTOMERS, $1M+ DEALS AND TOTAL TRANSACTIONS
NON-GAAP LOSS PER SHARE WITHIN PRIOR GUIDANCE RANGE
POSITIVE Q4’15 OPERATING CASH FLOW BETWEEN $7 AND $9 MILLION; POSITIVE OPERATING CASH FLOW FOR 2015 BETWEEN $35 AND $37 MILLION
1. Based on preliminary review of Q4’15 results. Subject to change.
2. Non-GAAP. Reconciliation of total billings to total revenue in Appendix. Reconciliation of forward guidance ranges not available.
Copyright © 2016, FireEye, Inc. All rights reserved.
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INTRODUCING iSIGHT PARTNERS
MACHINE + HUMAN ACTIONABLE
INTELLIGENCE INTELLIGENCE = INTELLIGENCE
Copyright © 2016, FireEye, Inc. All rights reserved.
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FIREEYE ACQUIRES iSIGHT PARTNERS—AT A GLANCE
MARKET LEADER IN THREAT INTELLIGENCE
ACQUISITION PRICE OF APPROXIMATELY $200M IN CASH, PLUS $75 MILLION EARNOUT (CASH AND EQUITY)
~350 EMPLOYEES IN 17 COUNTRIES; HEADQUARTERS IN DALLAS, TX
250+ GOVERNMENT CLIENTS / 90+ COMMERCIAL CLIENTS
2015 BILLINGS ~$50 MILLION, 2015 REVENUE ~$40 MILLION; RATABLE BUSINESS MODEL 90% SUBSCRIPTION/10% SERVICES
EXPECTED TO BE SLIGHTLY ACCRETIVE TO 2016 OPERATING INCOME AND CASH FLOW
Copyright © 2016, FireEye, Inc. All rights reserved.
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THE KINETIC AND CYBER WORLDS ARE COLLIDING!
TRANSPORTATION
ENERGY
HEALTHCARE
CRIME CYBER CRIME
ESPIONAGE CYBER ESPIONAGE BANKING
WAR CYBER WAR
RETAIL
TERRORISM CYBER TERRORISM
MANUFACTURING
Copyright © 2016, FireEye, Inc. All rights reserved.
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THE RISING THREAT TIDE REQUIRES
MANY LEVELS OF INTELLIGENCE CAPABILITIES
FireEye + Mandiant + iSIGHT Partners
ATTACKER SOPHISTICATION
Global threat researchers at attackers sites
(very unique to hire/deploy)
Global incident responders at victim sites (very unique to hire/deploy)
Global presence with customers
Strategic customers F500/G2000
TARGETED NATURE OF ATTACKS
TYPES OF ATTACKERS
Copyright © 2016, FireEye, Inc. All rights reserved.
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FIREEYE GLOBAL THREAT MANAGEMENT PLATFORM POWERED BY iSIGHT PARTNERS
PRODUCTS
Better detection efficacy with low false positives
Coverage for crimeware, hacktivism, critical infrastructure
Continue to enhance detection as a differentiator
MANDIANT SERVICES
Intelligence services as a new set of offerings
Improved compromise assessments
>250 EXPERTS across security, analytics, and geo-political domains
17 COUNTRIES
29 LANGUAGES TRACKING
171K action reports, 35M malware binaries, 22K product vulnerabilities
FAAS
hanced differentiation from the MSSPS
More comprehensive and powerful deliverables
SUBSCRIPTIONS
Increased adoption of threat telligence subscriptions
Premium intelligence subscriptions to monetize the portals
Deliver an on-premise intelligence hub
Copyright © 2016, FireEye, Inc. All rights reserved.
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iSIGHT OPENS UP NEW MARKET OPPORTUNITIES AND A SEGMENTED INTELLIGENCE SUITE
OFFERINGS
FIREEYE FORWARD DEPLOYED ANALYST
FIREEYE
INTELLIGENCE PORTAL
CAPABILITIES
ADVANCE
THREAT INTELLIGENCE
DYNAMIC
THREAT INTELLIGENCE
VERTICALIZED
THREAT INTELLIGENCE
FIREEYE PRODUCTS
CLOUD ENDPOINT
NETWORK
FIREEYE INTELLIGENCE HUB
(INTEGRATE 3RD PARTY PRODUCTS)
VERTICAL
FIREEYE
PARTNER
INTELLIGENCE
PORTALS
PORTAL
MANDIANT SERVICES
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Copyright © 2016, FireEye, Inc. All rights reserved.
JOURNEY FROM SINGLE PRODUCT TO COMPLETE PLATFORM
MVX ENGINE FIREEYE MPS
FIREEYE GLOBAL THREAT MANAGEMENT PLATFORM
HARDENED HYPERVISOR WEB/EMAIL
SCALABLE FROM 1-MM’s 1G TO 10G
PORTABLE TO MULTIPLE OS’s 4,000+ CUSTOMERS
ON-PREMISE WEB, EMAIL, FILE,
ENDPOINT AND FORENSICS
CLOUD-BASED EMAIL, ANALYTICS, MOBILE, AND
THREAT INTELLIGENCE SUBSCRIPTION
FIREEYE AS A SERVICE SUBSCRIPTIONS
MANDIANT IR AND ASSESSMENT SERVICES
Copyright © 2016, FireEye, Inc. All rights reserved.
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FIREEYE PLATFORM SEGMENTATION
INCREASES TOTAL ADDRESSABLE MARKET
0 CURRENT PORTFOLIO
Focused on the most mature segments
2 POWER
Continue to innovate for the early adopters and cross-seep the platform
1 ESSENTIALS
Affordable innovation for down market
Mature
tySecuri
Hundreds of Prospects
Advanced
Thousands of Prospects
Concerned
Tens of Thousands of Prospects
Reactive
Hundreds of Thousands of Prospects
Largest and Fastest Growing Security Budgets
Copyright © 2016, FireEye, Inc. All rights reserved.
Smallest Security Budgets
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FIREEYE GLOBAL THREAT MANAGEMENT PLATFORM EXPANSION
ON AS A THREE FORM FACTORS: CLOUD
PREMISE SERVICE
TWO NEW EDITIONS: POWER ESSENTIALS
Copyright © 2016, FireEye, Inc. All rights reserved.
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INTRODUCING
Mike Berry, CFO
Copyright © 2016, FireEye, Inc. All rights reserved.
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THE JOURNEY FROM PRODUCT TO PLATFORM: GROWING MIX OF RECURRING SUBSCRIPTION AND SUPPORT
Annual Billings1
$797—$798 2
$677-$678
$591 $512
$257
Millions $130
2012 2013 2014 2015
Recurring subscription & support billings were
69% of 2015 non-Mandiant billings (vs. 56% in 2012)
Product Recurring Subscription & Support Professional Services
1. Non-GAAP. Reconciliation of total billings to total GAAP revenue in Appendix.
2. Based on preliminary review of Q4’15 results. Subject to change.
Copyright © 2016, FireEye, Inc. All rights reserved.
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THE JOURNEY FROM PRODUCT TO PLATFORM: VECTORS OF CHANGE
HOW CUSTOMERS BUY
HOW NETWORK ARCHITECTURES ARE
EVOLVING
HOW CUSTOMERS VALUE AND CONSUME THREAT INTELLIGENCE
THREAT ENVIRONMENT
CapEx ? OpEx and As a Service
On-Premise Appliances ? Cloud and
Hybrid Deployments
Free commodity feeds ? actionable, tailored subscriptions
Short-term Reactionary ?
Long-term, Strategic Decisions
Growing
“Standalone” Product Subscriptions
More transactions, more diversified billings by customer
Copyright © 2016, FireEye, Inc. All rights reserved.
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THE JOURNEY FROM PRODUCT TO PLATFORM: PRODUCT + PRODUCT SUBSCRIPTIONS BILLINGS
Unattach 2013 ed
0%
DTI
Attached Appliances Product
URL/Attach
50% DB 50%
2014
Unattached 21%
FaaS ETP
TAP Product
Mobile 43% Appliances
DTI URL/Attach DB
ATI ATI+
Attached 36%
$407.0M
2015
Standalone Product Subscription 35%
FaaS
ETP Product
TAP 39% Mobile Appliances
DTI URL/Attach DB
ATI ATI+
Attached Product Subscription 26%
~$540M1
1. Based on preliminary review of Q4’15 results. Subject to change.
Copyright © 2016, FireEye, Inc. All rights reserved.
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Q4’15 PRELIMINARY FINANCIAL RESULTS
Q4’15
2 Q4’15 Guidance Preliminary Results
Billings1 $256M - $257M $240M - $260M
Revenue $184M - $185M $182M - $190M
Non-GAAP Loss per share1 In range
Cash flow from Operations $7M - $9M
Ending cash, cash equivalents and
~$1,170M 3 ST investments
1. Non-GAAP. Reconciliation of total billings to total GAAP revenue in Appendix. Reconciliation of forward guidance not available.
2. Approximate, based on preliminary review of Q4’15 results. Subject to change.
3. Approximate balance as of 12/31/15, prior to close of acquisition. Copyright © 2016, FireEye, Inc. All rights reserved.
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Q4’15 PRELIMINARY RESULTS: ACCELERATING
ADOPTION OF CLOUD AND AS A SERVICE OFFERINGS
PRELIMINARY Q4’15 BILLINGS1, 2 MIX
Millions $300 $256-257
$250
~36%
$213
$200
Recurring subscriptions and
$150
YoY Growth
~30% support were 61% Millions of total Q4 billings (70% of non-$ $100 Millions Mandiant billings) $
$50 ~Flat
$0
Q4’14 Q4’15
Product Subscriptions & Support Professional Svs
HIGHLIGHTS
Improved performance in international regions
Continued strong growth in professional services
Acceleration of customer adoption of cloud-based and As a Service offerings
First $1M+ FaaS deals in EMEA and APJ
Accelerated transition from EX to cloud Email (ETP)
YoY growth in product billings impacted by large transactions
1. Non-GAAP. Reconciliation of total billings to total GAAP revenue in Appendix. Reconciliation of forward guidance not available.
2. Approximate, based on preliminary review of Q4’15 results. Subject to change.
Copyright © 2016, FireEye, Inc. All rights reserved.
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Q4’15 PRELIMINARY RESULTS:
HEALTHY UNDERLYING BUSINESS METRICS
AVERAGE CONTRACT LENGTH (New Recurring Subs & Support)
TRANSACTION VELOCITY
40 35
34
32 32 31 32
30 29 30 30
20
10
Q4’13 Q1’14 Q2’14 Q3’14 Q4’14 Q1’15 Q2’15 Q3’15 Q4’15
NEW CUSTOMERS ADDED
800 740 700
626 621
600
530 500 461 455 433
400 392 300
200
100
0
Q1’14 Q2’14 Q3’14 Q4’14 Q1’15 Q2’15 Q3’15 Q4’15
TRANSACTIONS > $1M
400 375
367
297 299
300
256 243
224 194
200
100
0
Q1’14 Q2’14 Q3’14 Q4’14 Q1’15 Q2’15 Q3’15 Q4’15
Copyright © 2016, FireEye, Inc. All rights reserved.
50 47
43
40
34
30
30 28
26
20
10
10 7
0
Q1’14 Q2’14 Q3’14 Q4’14 Q1’15 Q2’15 Q3’15
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iSIGHT PARTNERS TRANSACTION SUMMARY
LEADER IN THREAT INTELLIGENCE WITH ~350 EMPLOYEES IN 17 COUNTRIES
2015 BILLINGS ~$50 MILLION (90% RATABLE), 2015 REVENUE ~$40 MILLION
ACQUISITION PRICE OF APPROXIMATELY $200M IN CASH, PLUS $75M EARNOUT (CASH AND EQUITY)
CLOSED JANUARY 14, 2016; FIREEYE POST-CLOSE CASH BALANCE OF ~$1 BILLION
EXPECTED TO BE SLIGHTLY ACCRETIVE TO OPERATING INCOME AND CASH FLOW
Copyright © 2016, FireEye, Inc. All rights reserved.
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JOURNEY FROM PRODUCT TO PLATFORM: CONTINUED FINANCIAL STRENGTH
OFFERINGS ALIGNED TO CUSTOMER PURCHASING PREFERENCES; SEGMENTED OFFERINGS EXPAND ADDRESSABLE MARKET
SOLID Q4 RESULTS; HEALTHY CUSTOMER AND TRANSACTION METRICS AS FINANCIAL MODEL TRANSITIONS TO HIGHER MIX OF SUBSCRIPTIONS
POSITIVE OPERATING CASH FLOW IN 2015
iSIGHT ACQUISITION ENHANCES FIREEYE PLATFORM, INCREASES SUBSCRIPTION BILLINGS AND REVENUE
Copyright © 2016, FireEye, Inc. All rights reserved.
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KEY DATES
FEBRUARY 11, 2016 FINAL Q4’15 RESULTS AND CONFERENCE CALL
MARCH 8, 2016 ANALYST DAY, NEW YORK CITY
Copyright © 2016, FireEye, Inc. All rights reserved.
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THE FUTURE IS BRIGHT FOR 2016
PLATFORM
MVX ON ENDPOINT
CLOUDWALL
ENTERPRISE EDITION OF FIREEYE AS A SERVICE
VIRTUAL MVX
(SOFTWARE ONLY
VERSION)
Copyright © 2016, FireEye, Inc. All rights reserved.
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Q&A
Copyright © 2016, FireEye, Inc. All rights reserved.
APPENDIX TO Q4’15
PRELIMINARY RESULTS
NON-GAAP TO GAAP
RECONCILIATION
Copyright © 2016, FireEye, Inc. All rights reserved.
Reconciliation of Q4’ 2015 Preliminary Revenue to
Preliminary Billings
FireEye, Inc.
RECONCILIATION OF NON-GAAP BILLINGS TO REVENUE (Unaudited, in thousands)
GAAP revenue
Add change in deferred revenue Non-GAAP billings
Q4’ 2015
$ 184,000 $ 185,000 72,000 72,000
$256,000 $ 257,000
Copyright © 2016, FireEye, Inc. All rights reserved.
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