FEYE - Earnings call transcript Q2 2021

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Welcome to the Q2 2021 Financial Results Conference Call. My name is Adriane, and I will be your operator for today’s call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session. [Operator Instructions] I will now turn the call over to Kate Patterson. begin. may you Kate,

Kate Patterson

being Officer Good section today’s call thanks financial call Executive quarter of Chief on call the Executive and Adriane. and Frank the joining be FireEye’s can results everyone Verdecanna, Vice website investors.fireeye.com. us closed Chief issued FireEye’s Chief After today, With second accessed for XXXX. Officer; is a This announcing FireEye. Mandia, second XXXX. on Accounting me to Investor of the live market afternoon. you, over press are, to Internet Relations Kevin And quarter of the on the Officer for President, today’s for the Financial FireEye broadcast of and Thank discuss FireEye’s results at release

which materially we obligation update apply FireEye’s of for differ let make the of forward-looking the results call, rely including Products sale on them views are by to Before after effects me future, of in our of will as regarding during course company’s FireEye and anticipated expectations, and and plans the risks that call. today the future business not beyond undertake priorities, expectations to to new you These should company’s remind as these guidance expectations could of of no management statements the control, growth the actual opportunities transaction, and begin, statements. and and statements forward-looking financial statements this statements availability timing completion and forward-looking metrics, and initiatives, uncertainties, of these we those and and capabilities results statements for representing business, you transformation, the for These drivers and our enhanced the go-to-market involve transaction some and the benefits, expectations investments, strategies. offerings, including market relating of a number from cause which

may SEC our website. visiting refer Copies earnings be from as risks the or filings, description [Audio obtained our and of our documents to For section uncertainties, release the a SEC posted these of as the detailed Gap]. please Relations an well Investor of by

Additionally, discussed on be measures certain non-GAAP this financial will call.

reconciliations have of financial comparable measures as website, measures in as in directly Relations financial GAAP the these Investor for most provided the We the release. the non-GAAP on section well earnings

to and over Finally, the call financial slides that Investor I I’d be section. that, supplemental like With point will statements Kevin. posting on out turn Relations will we the to

Kevin Mandia

support. We a thank Kate, added our guidance quarter for your XXX we in interest of QX, against up consistent the you and Products plans the Thank On for second XXXX, for and all quarter basis, and Mandiant teams executed us growth we Solutions company-wide appreciate all logo key you, The up of ranges you their combined billings this first well best year new with XXX delivering joining results on since to metrics. focused ago. FireEye our and call. year-over-year XX% and customers, posted today remain financial a from

the benefit to and in company. the continuing strategies, respective Solutions highlights while Products of Mandiant divestiture our Mandiant pace divest our quarter go-to-market call, will transactions and shared our XX $X businesses. customers with threat plans to second to strategy threat opportunities accelerated of businesses optimize is both an how the share on we innovation best-in-class The our transformation customers in for XXXX. $X.X create will for opportunities than In growth closed million, XX quarter the our with our innovation, joint in transformation on I for creating to both from FireEye we I’d growth. second our even and this based detection On progress become the employees Technology have increased QX, to We our greater first billion a some business discuss accelerating made transaction Symphony the announcement lead we security-as-a-service reported to like our by investments support a also quarter. We then divestiture Group. greater the FireEye of up Today their with Products intelligence. new believe in allows from

backlog of XX% remain and has a ARR second the we exited with representing the to year-over-year. year-over-year with transition solutions the company, quarter. will mission of platform, in our second execute divestiture deferred of been of Solutions XX continuing million. billings growth the Mandiant the on year-over-year our XX% record $XX in revenues its were As quarter. for had our quarter delivering Mandiant $XXX to focused strong potential the the and and largest grew Demand and Advantage deals services revenue, accelerating quarter, solutions services customers distractions protecting in included separate Solutions FireEye services Even Products Mandiant expertise in well our Mandiant business, our reporting grew focus We second revenue straight to XX% work. and stronger. never XX services of on subscription-based of million Mandiant XXth further a Consulting of Mandiant nearly

We are meet to the scaling our capacity demand.

growing beyond Advantage far and building services We can we and organizations services, to modules are our number platform intelligence We first revenues compared transformation reach alone. in customers the period strategic of half in their to also XXXX. into help expertise services mature of strategic security posture. expertise Growth XX% extend same the the approximately XXXX Mandiant focused which through of on higher the our reach the was in our

measures pace of partner and landscape evolution information position organizations as and constant cybersecurity rapid our resilience. to of maintain requires our We technology adapt to to also their the threat innovation the customers. The strategic a strengthened

process, with effectiveness. As a this we customers trusted adviser ongoing ensure in to security our continuously work

the in the over quarters four out XX quarters. and revenue back months, XXX revenue services four customers XXX than generated generated three Looking customers last in another more all of

performance, continue we breaches made financial to great respond the security the the to addition to In headlines. that

industry, is our as occasions competitive we recognized testify sales the be relationships issues. our Congress We multiple for also to customers. Services and consulting in Mandiant nation’s cybersecurity to appearing natural is we with build on due continue our advantage leaders where and motion leaders And trust in to the this creates a deep believe our technology. on briefed thought also We

We codifies this Advantage Defense Security were logos. are the Intelligence seeing in Automated encryption platform, and working of off for customers. new active Advantage Mandiant expertise momentum total victim via quarter play Advantage the the XXX many and since headed our Mandiant Defense, Adoption that consultants learning Advantage Mandiant the our Mandiant increased user events our Intelligence these the XX% notifications hand-in-hand our quarter over a Mandiant technologies. our had first human to with early active to platform. Advantage notified delivered of of grew out Mandiant XXXX. most platform Mandiant modules the in module importantly, sequentially Mandiant analytics community Perhaps of the third-party that Mandiant victim Validation, of The of models now and prior the Intelligence works offerings, machine they environments. record in of Automated which consists hundreds organizations over ransomware team compromised with XX for

to platforms, Managed that already of only AI year, technologies detections learning the security abuse both to by momentum quarter. by a combination in a strong and are Windows to with base cloud posture. We Experts. attacks. Tanium, cybersecurity and to well and to as learnings and for were for business development cloud Defense support of offering included closed the growing to maintain our our the leverage common detection is recently keep expertise to and the respond to increase and believe This of making into products. our also months Managed that scientists the integrations new and based customers before our Customers our for are the am account skills models is the than their a new The network few expect technologies security will cycle. our the for visibility XX% the Defender solutions allows as year. the a the machine organizations and Defender close of operations generating most we year excited numerous endpoint entered growing security offering second resilience Mandiant cloud new new compromise is technology second we excited multimillion Managed as as continued seeing to our up We manage to responding pipeline power means attacks resilience. routinely growing build new the new and continuous, and available, transaction add we for gap of half Validation evade latest and shortage of powered to solutions endpoint common and their to demonstrates most coming more In the affect customers of with realization way back guard customers. threats security are attacks their and build. of of X,XXX breaches the in engineers by may half I security continue Validation, breaches over more to logos demand to first renewals. assets we Mandiant Managed managed well and Advantage as of continues on we Defense expertise of nearly able for with and dollar data lack technologies, momentum third and in-house this Microsoft And safeguards, are such be controls increasing our We or prioritize overworked observations they teams I threat ever The the a interest to feed security are against. innovation automation, and the authentication Mandiant about

of and Defense billings outlook other. made in-house both Our capabilities, in complement on show the Managed solutions, for closing Solutions their Mandiant progress our Mandiant two are and for The follow-the-sun In time second and executing gap customers QX, parts means strategy. half model skills business, to each add and interdependent their security Validation coverage. have our Mandiant expertise and the Managed performance services can the we the

Mandiant technology the deliver them scale technology their us by this frontline platform, our enabled experience. Advantage our combination, need In allows scale whenever at expertise Our however with to allowing our expertise enabled Intel customers productivity and consultants it. and is to are and

tasks human Advantage our thinks, that create more learns automating a continue makes and Going Mandiant super plan a to applying customers building our forward, on technology recommendations analyst, to to and secure. learning machine strategy, make we

all seamless our Demand. beginning with realizing Automated can is and towards a I security the Managed doubt our to our their address headlines security for security need Mandiant how of in breaches, the Defense the commitment the the market enabling by the Expertise Mandiant shortage with are employees makes security and and no are cybersecurity. Mandiant extension transformation to With their be like is about that team there need thank are augment growing their I of Given offering I’d simple to for and with of we that and a call this On for is believe address Frank. customers for like Growing organizations customers. have our constant more validate can to this approach we automate, effective there Managed discovering Mandiant our programs. Validation positioned Mandiant uniquely are turn and over believe effective I automating finding security Organizations of expertise organizations of to to another experts made progress the numbers validation. be that, will to a

Frank Verdecanna

everyone to Thanks, call. joining hello us Kevin, the you and today. on for Thank

metrics. and model subject for I metrics. transaction say closes. Since the you of our have businesses, to we results quarter, to completed discussion, QX We closes focus FireEye Products I after sale of for ranges to today’s regulatory the for all our quarter results we for operations met through combined pleased our that guidance and closing the customer conditions. assumed Products operations walk QX end approvals fourth still results Mandiant expect transition on am the be guidance currently business from Solutions the take the before the provided guidance to to key the the by prior FireEye continuing the and For that will transaction map our that continuing

revenue discussing As I flow. when operating will to except cash always, be referring metrics, non-GAAP and

the of $XXX range from on term XX% with preferred more Solutions convertible the of and Gross of margin non-GAAP I the of increased highest million exclude term But charges, equity, area. this Highlights of and compensation, consistent generated have stock-based ops non-recurring continuing other as revenue Mandiant was of XXXX. million. convertible Series on-premise our is measures guidance historical of Mandiant non-cash year-over-year rate business’ billings preferred growth combined license convertible XX% quarter end since the per cash $XXX discussion This growth We growth. combined of Billings and FireEye which and in for migrated performance length, upfront revenue higher. million and focus and interest third the were of at will earnings growth transactions Both in XX XX revenue for XX% Combined A cloud validation Solutions restructuring flow a business. was impacted license items. billings consecutive cloud-based and XXX by Products from to been QX detail on added of this would Our the We executed our follows. amortization acceleration of trends, margin operating approximately well a XXXX in been as XXXX. customers, and midpoint contract to $X the Advantage several million. expense revenue QX and in guidance platform the revenue and accretion had -- share debt XX% stock the intangibles, maintained ranges. Mandiant operating new high continuing businesses of dollars platform. into business up closed customers compared our XXXX achieved in the go QX ops to Mandiant We of the XX Total QX average both without in X% revenue meaningful of than quarter. million, was of in months decline from at logo change if $X.XX $XX our was greater

record at both services. strong the professional look from results with cloud managed Solutions XX% the ended and million. Mandiant let’s continuing for subscription the performance $XXX We of reported services Now Mandiant with revenue billings Solutions of for operations and increased platform, quarter business. XXXX, in deferred QX

billings evaluate revenue year-over-year the scale metric platform, XX% growing capacity. XX% quarter. professional at Professional While noting the in performance best we look encourage we were professional as worth you was that as impressive our to performance, services year-over-year still to services to our continue it’s revenue now growth deals The services up the managed the XXXX impressive cloud its organic, is of billings first largely to as category quarter, half year-over-year subscription to grew Automated bringing Defense. XXXX. over are second starting the half than performance and pipeline XX% in first This more close in services XX% only we for equally

second We this half to category from the growth growth for in the of the expect QX accelerate year rate.

in XXXX the lengths, guide don’t billings cloud rates, the new we I that of Growth platform, we noise and seasonally business of pipeline of of be volatility results into because solid in growth not billings renewable half. would our year cause While have full billings subscription strong strong to managed and driven head the second by report variations growth for time the surprised cloud long-term platform approaching confidence divestiture Solutions services in XX%. large Mandiant both and the as was platform consistent year-over-year the can contract models, the modules. and a timing the in are to outlined other renewals revenue we in and announcement. established sustained and subscription the model following our gives Defense Managed market future our for in well subscription of billings growth ability of at the growth in to billings Mandiant Intel in indicator ratable leading Advantage Automated in Validation accelerate Defense, growing with levels momentum integration a which the Since we me are

the strong Turning performance translation of revenue. billings our to into

the on-premise platform into Validation cloud XXX, the company, a sold renewable, subscription and module create hybrid customers deployments of platform, but deployments. and under term a revenue into term Mandiant SaaS or fully the the option of Automated to the our customers licenses, Mandiant for cloud big integration for Advantage and and to huge on-premise the the licenses and company to from Validation both services the it While in deployment Hybrid the have Advantage a as more an transformation on-premise. revenue platform, the of than second and Advantage ASC In positive is and is the a quarter. did step managed renewal A cloud-based growth Defense for Validation little in both Prior new rather why? the integration detail category explain headwind of customers over increasing cloud ratably. of module, recognized launch opted with Mandiant QX, upfront number are will

to cloud subscription which the given a As This platform, It is longer-term a managed forecast any for result, cloud-based subscription revenue and revenue our trend at for both the always and license and declined upfront quarter, sequential effect will year-over-year the of clear rate a positive suppressing on in came growth. but a basis. deploy financial the way and company customer in services X% our possible had category, not which year-over-year is model. the growth

we As of expect to QX This we the you we is component increased QX end on saw for growth mid-XX% QX consistent the QX to range XX% encourage XXXX the focus as in QX which a low in ARR accelerate and year. range with $XXX the the result, and ratable of revenue to in exit the to in of Solutions, which from million. XX% this category, Mandiant we

Looking mid-XXs. second we to into at a expect re-acceleration half of the the see XXXX,

that the of of at operations FireEye operating Accounting which net and of of our to into to from the shared if aggregated been operating Included statements. XX%. FireEye allocated of the support in for in be operating allocation included operations these of look have resources FireEye reducing shared to marketing the are business business these on the closes, shared the related a face time. most in transaction the that The including close for would by by results. benefit approximately flow of QX expect cash Products continuing significant and guidance is reimbursed to that expenses results the segregated $X attributable and events million our $XX million Note to effect margin. expenses QX overhead expenses XX% for see costs Solutions and even business, had for general $XX and directly the expenses the at continuing under Therefore, on support a million and our increasing business of of the or only income Products margin performance have will incurred transition are operations. reduced all in nearly company. are programs, all timing you of operations, the Products incurred to operations. swing aggregation after what we of administrative expenses and for FireEye margin to operations, approximately the FireEye the we QX other reporting resources they IT also operations be further This and providing this and let’s the program cash under combined means services approximately agreement. employees Now of reported discontinued the discontinued costs operating products or Expenses shared business continuing discontinued campaigns, financial impact The continuing requires sale Products Mandiant revenue expenses support

the represents standpoint, and using compared expecting close term already revenue $X QX quarter, cloud XX% At mix, the biggest $XXX of licenses Since before revenue a $X is third is professional to licenses. platform subscription revenue to assumptions will be approximately sitting deferred majority in operations headwind in of have quarter, continuing revenue, ago. bucket and of the we to continuing services the ratable the same not of from swing year term in and to this expense mix Since platform For to transaction the and XX% $XXX of expected fourth the million XX% in variation an approximately of continue cloud upfront is within resources we platform the for of million, expect to the cloud factor. million a billings billings, to XX% programs million shared operations.

the guidance. look given to information QX ramping I the similar expense QX, which expect and you of for currently a to incremental up sales have lot is we reflected know Mandiant of here. our marketing brand, we in in plus So

transition our for how the growth So transaction. let future to now to of me confident drive the through and we summarize over reiterating Mandiant Solutions by Operator are we about this get the operating period and after accelerating call leverage ability I questions. turn close and the will

Operator

from Thank And [Operator first Instructions] our Fodderwala comes Hamza Stanley. question from you. Morgan

Your line open. is

Hamza Fodderwala

you. my Hey a basically guys. for quite Thank lot question. set. I to for try there, you taking There to question Frank, was level want just first

is imagine metric I metric continuing to ARR for the be business key Mandiant going there. operations, the the the So

not it sort then heard on of that And So seems part I XX% the quite what strong, fast it like business Defense basis? I SaaS growth, I consulting am think, of of was Managed was the portion how revenue the or that exactly an ARR sure ARR is grow?

Frank Verdecanna

Yes.

at contributing the think you have but not way revenues to right it services I So Solutions, grow… that professional are is, the Mandiant did to look now in ARR,

Hamza Fodderwala

Right.

Frank Verdecanna

have … got and then that from you year-over-year revenue XX% It perspective grew XX% part of subscription also Mandiant ARR grow Solutions a an year-over-year basis. XX% billings basis. from SaaS a the did from

Hamza Fodderwala

Is out sort kind maybe stand-alone like what’s driving get the its helpful. then underneath environment? think the expectation in revenue low in back it in Mandiant XXs of that more of strong growth heard to it. couple the growth in accelerate I mid-XXs and And of QX half I low That’s Got Got accelerate Okay. confidence perhaps, go-to-market QX. mid-XXs so the then it, quarters and kind like -- of the sale to for -- business? until just obviously, demand of of in on it. traction the What’s a the sort the feet than, ARR other

Frank Verdecanna

at the up. pipeline if see launch platform, different of Yes. look really, the Advantage you building Mandiant the It’s we

were quarter, offerings. see a example, some Defender in are of customers Managed traction lot on our of Microsoft in Defense new great customers the supporting also that We the of endpoint. A XX% new we

the different have And the we confidence up beyond. and of next the quarters in modules and opening a in of for outlook we lot that different pipeline. So couple the see of some capabilities, by

nice We closed side. platform we and also saw deals cloud on that some the very in July

Hamza Fodderwala

Got just along on as or business going a that it. to maybe that’s the go-to-market take from starting there productivity comfortable you motion the motion And sales go-to-market is that, a few feel standalone is do hum more Mandiant the like standpoint to months? that

Frank Verdecanna

No.

think seen I have the we the of selling definitely we just seen reps pipeline newer it and are have in products. the some it in of that number now

I lot standpoint. legs think we be of a and confidence productivity close spot this a have that the sea are they of good going selling have got and I really on we in side transaction, post think, from to capacity their solution a

Kevin Mandia

Yeah.

sales divestiture. have of the a the job aware less are months than force. mean educating removed We from great they I two done of not

a they are see to are what right get there. basis get alignment The little Products I in bit an and way you now, target And a of productive Mandiant they going of Solutions. I things on to more are will back Mandiant go-forward when and folks strategy, we you think, on But intelligence. like sell will focus. So number a and disruption are have one on you that incented be selling be, FireEye

one in incident number are We response.

better number our will a defense focus, are creating intelligence, intelligence number come our with breach on one one We automated based results. and

need. professionals right we doing So training focus our to there sales get the and that all to are things that get the

Hamza Fodderwala

Thank you. Got it.

Operator

question our comes from from Trebnick Catharine next And Colliers.

is line open. Your

Catharine Trebnick

my Oh! question. Thanks for taking

sorry in these maybe these this threats reiterate with expect threats how so coming early are all think you government hyper I are Just to queue, because federal with how that? hyper coming you be and on all the -- you and the didn’t doing on where well you could about and

Kevin Mandia

the very had a on the be services on having well, some you United a our in prefer matter with go governments want capability, to cyberspace. in with have strong tie in federal and along where and work lot agencies being that a a here based at to duress other we those threat of company, both intelligence component times security and buy it. during governments to look government hot technology We as with always zones the with of services When based States in

confident government strategy, you confident every there. when am federal I our it’s in at very So our simple, look in I And day. our business. relevance am

doing As responding every we gap to needle capability operation are all automating is taking have the that it hundreds XXX with in a inside security and over are having we this conversation, to cybersecurity. incidents. we putting are software. the find in single security of there’s and consultants of that And we with haystack and Clearly, hundreds it

time that skill So to doing is strategy sound. almost and all intelligence know every We replicated what human we that single that’s going are over is be machine by here.

and your that So have great governments to question, getting intend back relationships our numerous to we with I Catharine, see part of business grow. always

Catharine Trebnick

right. Thanks. All

Kevin Mandia

Catharine. Thanks,

Operator

comes Goldman Sachs. from from question Brian And your Essex next

is open. line Your

Brian Essex

with How you Kevin, you Legacy I for the relationships guess, path kind that, of maybe, you partners from question. that I might along to with… far developing more the those as start and taking thank modules be to the other off, the business opening you creative Hi. afternoon guess, mentioned, you and the business. are of untether Good providers product

Kevin Mandia

Yeah.

Brian Essex

regards how with … roadmap how that and to… do we look --

Kevin Mandia

Yeah.

Brian Essex

… building relationships further.

Kevin Mandia

Yeah.

we got do. So lot to a of work

and We Defender just our where Windows Windows on are Defense, Managed net started, Defense Managed had I getting our but where supporting April was picked up it the very was was and experts encouraged XX% of think endpoint. logos literally Defender it have new you I we I

get behind and partnership, we John partnerships our then technical one then hopper, big in of the key team get laser-focused in and that’s from to are I the that have. third, second on got got the first Decoupling of seeing strategy know the divestiture. the Mandiant to Defender, and we And Windows with the the we the technical just to expertise the FireEye we fourth. So Waters need Products purposes one are is queue

Frank, how used like But Now or XX market third-party Defense. the with partnerships It with Defense, sea phrase to Automated we are legs. works our all we it, to more already bringing technologies. is get Automated these

a sure just we roll it test we managed make to a of and in do Before things like capacity, and out bunch scales. first that it

sure are getting go to these as few support, launch Intelligence on So, widespread and we we the quarters than couple and overlay does every in that adoption, Mandiant check we effective make support products that and Defender others, could want well. certain when top a of and a strategic it are those expanding are of can are There do and more in to box, hoping what keep expertise order and expanding those. we

but we we certainly the the end and expect beyond one to year. to intend endpoint of stay expand So now tuned, -- between just

Brian Essex

helpful. Maybe channel? mentioned, to know to communicated you how up, the That’s it. is I follow this Got being the…

Kevin Mandia

Yeah.

Brian Essex

… and… is the effort terms channel and but direct force -- shift the I sales guess, they of are the understanding in far go-to-market along in there, how education

Kevin Mandia

Yeah.

Brian Essex

might some with … well these as partners? how more they be to able open of up

Kevin Mandia

There’s we came more I to I first answer at of were our other those. we like our channel are no side the structured look when partnerships. in when in phase questions and words, for our doubt. business aggregate, feel your with, In FireEye controls I can both the of it product

FBI strategic to separate our partnerships of Joe the a with government. becomes just entity, Mandiant from hired lead As Aaron the some we

capability and partners. going to see partners, an out channel us who additional of who are strategic are our You build are our prioritization

controls. to overlap partners. potentially But get between ones some which channel -- Mandiant have channel on controls FireEye there between the partners channel that the serve and Mandiant some more are and we partners better we to clarity will of just going the than some was always sell Now business the look already, agnostic overlap

lot next and are you it. on make the a So of this to see over that’s answer going inning we saying the few first long-winded on my quarters us tremendous of progress are in

Brian Essex

you. it. Got That’s helpful. Thank

Operator

our And JMP from next Kanga comes Rustam question from Securities.

is line open. Your

Rustam Kanga

guys. Hi

one exposure forward to Just for of the of traditionally, the have of majority question, from managed geared we to and more me of with be you do have piece services kind of and been on area Symphony, have relationship resellers is suggest backing the product kind feedback channel they to foresee given going the the the that kind professional Brian’s limited that piggy by resellers that piece. kind how towards, the the spoken moving our that’s

So the Mandiant the I about perspective? should curious how am from think just we channel

Frank Verdecanna

more Rustam, the Frank. business, SaaS of start the this the and which well. -- Solutions increasingly is look will if -- time business you business, over I half That does subscription really fit is Mandiant with at channel

do on going the lot on I partner wraparound So think our have a -- of strong think subscription then top will I that of to you of the business. partners relationship us a see offerings. of side partners continue to there’s And with the lot can services that on be a

from as with an side that opportunities products really we opportunity on know to of standalone working for So partner perspective, well. service it other look on MSSPs I as and side the the and Mandiant see at grow lot channel relationships the a organizations they

Rustam Kanga

Thank you. helpful very That’s

Operator

Barclays. [Operator Instructions] And our from next Saket question Kalia from comes

Your line is open.

Saket Kalia

Hey guys. my taking Great. Thanks for Okay. here. questions

Kevin Mandia

Hi, Saket.

Saket Kalia

on, could sort so realizing into a talk Kevin. Defense in But there’s brush you to cloud operations Hey, of just go lot broad deeper to from Managed share? of one makeup is Hey, versus maybe SaaS i.e. intelligence and platform be could with the going maybe continuing of how level early much much that, just broad it brushes any terms might that that how Hey, for of versus start you about this. you, Frank, Frank. the Validation, of business,

Frank Verdecanna

Yeah.

you So Defense got Validation over components to similar have cloud and Managed growth Defense on being the expecting time, sizes. it. a larger But larger and you be have and then getting perspective Intel have of platform rates from side Automated billings the much then and to got revenue

we there. obviously had customers big like Managed to for base Defense. But a and a of of growth and and be the built have some and modules have we so is revenue Intel the lot time, coming pretty Defense of in Automated quite some new So Validation going

Saket Kalia

mean, with think that how response an guess, the of Got point, imagine I threat about it. do Mandiant the has backdrop just I for I business? right, it. think That for an intended, I you maybe kind guess, advantage makes Got of the lot business. Kevin, do you pun sort Intel sense. But off has how competitive about… that Mandiant incident advantage, a you of

Kevin Mandia

Right.

Saket Kalia

noise folks Intel other all out Does have as threat that the with sense? there that … make well?

Kevin Mandia

important I Jurgen out the and are are tell The Intel, intelligence responders those knowledge of it we the right that’s are measure, first-hand doing the time, well top I we may I that doing. our to I technology? the every having with to out speak And on XX% that have. can’t validation every given built the we you question best and what ground sector who augment be time to rolled is, may don’t other we way want a not in for the one hundreds is have rely there. have did. threat so our There Kutcher, to firsthand. firsthand of private XX calling Have customers how there are quadrants. hey, it all out You I depend languages and what this? over the the to else. always on wake you by good there? we headline, anywhere strive lines to the be prefer respond our structured other do, that’s responding do. a know in seems front when I I day, on Intel exist lines. XXX out it. front can next were hey, getting to already into that offerings breaches distracted are Intel am any headline, be speak have other am on And that, strategically we countries. On company in folks with to companies My from it’s over in of runs I whatever see professional third-party we analysts All get you nearly is And we get what Intel, how you -- safe intelligence we of don’t see on see I of only I ground security best that’s that I we XX the then and Intel, there because confident We the up am doesn’t detections if the services, on don’t produce. that, are like is, time our we

if in like a have be are intelligence do business, a they we do. somebody I’d collections threat So, to they interested doing in wants say global how, infrastructure

Saket Kalia

could if squeeze in Got for more, one Frank... it. And Got it. maybe you, I

Kevin Mandia

Okay.

Saket Kalia

of sort I services about response. just we question line? that of might a how broad shifting anything But similar incident services to do all else just of subcategories think line, business. …kind think on kind think you on how brush sort guess, makeup in is about of any training versus but within that I the IR much the maybe that versus be

Frank Verdecanna

Yeah.

to we services around said and historically of have been incident teaming, have consulting QX beginning quarters, we Saket, response. made Last closer XX% the is of incident balance program then up response. And QX red we So, of assessments, assessments. couple were compromise of the in strategic that all strategic like XX% really

Kevin Mandia

Yeah.

The other thing…

Saket Kalia

Okay.

Kevin Mandia

of … realize, That’s response to and will they before, darn important have tactical. Saket. Yes. incident think a so said people this lot I is

on you it know you and end know know figure happened, in the out you bungee of get write food highest would a report response respond. you you you what I you the do incident management, what about just of know windows, UNIX, infrastructure, identity chain, it you and routers, know argue when of at Dodge. is You all know out to

So that makes you unbelievably capable at strategic consulting.

overlapped, every his to in let’s those half IRs. that the part, year. IR, or people, XX% I in all there’s role. direct the remarks and just no of we am that’s say, services It’s strategic peace now because have inbound this for whenever to and reported we the world in my red I why teaming We can first most repurpose affirmative services one last remarks, revenue overnight year growth are over of skills upfront that’s my So our flipping it, saw, back strategic

So the that’s with They of any play news have. good consultants. safety free can the we much and pretty that do response incident services

Frank Verdecanna

you And services a balances think our I revenue that, record the was, ended at deferred the on see Saket, we $XXX side million. quarter in

we we arrangements. of in lot building backlog building for third So addition are even IR, kind that’s consulting of a these the the to are all strategic business additional of

Saket Kalia

helpful. Thanks guys. Very it. Got

Frank Verdecanna

you. Thank Hey.

Operator

the I session. question-and-answer for our over concludes will final remarks. now call turn the that And to back presenters

Kevin Mandia

the I the speed divestiture, had jobs we lot quarter. want had with When of to quarter to go quarter. of you and during at a all through the employees, first, had what thank Well, bumps and accomplish of to heck look the we we FireEye a our a doubled

right all are doing the We things.

an an path. strategy, actually an alignment have of We easier when have and for you strategy have alignment of Mandiant you execution

the you excited want staying FireEye what year. you just for in call. to this with joining to with So we confident But to very I done, steadfast of all thank of XX call half Look I am for have And in speaking forward thank staying to employees this focused. the very a and us you second end days. on you

Operator

conference Thank may disconnect. and you, for today’s ladies you participating you gentlemen. Thank now This concludes call. and

Mandiant (MNDT) 6 Aug 212021 Q2 Earnings call transcript