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Shares of cybersecurity software maker Carbon Black Inc. (CBLK - Get Report) plunged 23.69% Thursday to close at $12.56, after the company reported fourth-quarter earnings that beat analysts' forecasts but warned that its 2019 profit won't be as robust as current expectations.

The shares have dropped some 25% in the past six months.

The company on Wednesday reported a fourth-quarter loss of $18.6 million, or 27 cents a share, compared with a loss of $27.1 million, or $2.51 a share, in the year-earlier period. Revenue rose to $56.9 million from $44.6 million in the year-ago period.

On an adjusted basis, however, the company lost 20 cents a share, compared with $1.04 a share a year ago. Analysts surveyed by FactSet had estimated adjusted losses of 24 cents a share on revenue of $55.7 million.

For fiscal 2019, Carbon Black also said it now expects adjusted losses of 61 cents to 64 cents a share, and revenue of between $240 million and $244 million. Analysts are calling for adjusted losses of 69 cents a share and revenue of $256.7 million.

To be sure, Carbon Black anticipates that its ongoing shift to cloud-based cybersecurity protection for large-scale businesses will impact growth in the short term but help boost sales and earnings over the longer term.

"In 2019 we will focus on refining our demand generation and sales and channel enablement capabilities to sell our expanded cloud security platform," CEO Patrick Morley said in a statement. "We expect this will have a near-term impact on growth and believe it is essential to maximizing the long-term market opportunity for the company."

Based in Waltham, Massachusetts, Carbon Black develops security software that detects and thwarts malicious cyberattacks.