Proofpoint’s solutions may be able to review more than 600 million emails per day, but they still cannot protect the cyber-security company’s stock from the market’s recent turbulence, said CEO Gary Steele. 'Organizations continue to struggle with security issues,' said Steele. 'We see visible hacks in the media every single day and as a result of that there has been strong demand. Although we do see this broader macro volatility, we feel very confident about the business given this strong demand environment.' Even after dropping almost 7% in the past three months, shares of Proofpoint are still up 18% so far in 2015. The tech-heavy Nasdaq Composite by comparison is up less than a percentage point year-to-date. The company said in July it expects its full-year 2015 non-GAAP net loss to be $16 million to $15.5 million, or a loss of $0.40 to $0.39 per share. The consensus estimate among analysts on Wall Street expect the company to lose about four cents a share in 2016. Steele, however, did not say that the company will be drastically cutting spending to get there. 'Last quarter we delivered 37% growth on the top line and we want to deliver that growth while increasing cash flow and profitability,' said Steele. 'We’ve consistently executed on that pledge.'
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Video
Watch: Jim Cramer Analyzes CAT, CVX, DIS, DWDP, GS, HD, IBM and MCD In Real Time
Have you ever seen someone analyze the 'tape' in real time? See Jim Cramer give his real time stock analysis on companies like Goldman Sachs, Dow Dupont, Caterpillar and more.
Cramer on Comcast, 3M, and Southwest Airlines Earnings Report
Watch the video for Jim Cramer's take on CMCSA, MMM, LUV earnings in under 60 seconds.
Why Tesla's Latest Earnings Report Has Jim Cramer Calling Elon Musk P.T. Barnum
Here's why Elon Musk's latest Tesla earnings call has Jim Cramer thinking about P.T. Barnum.
Cramer: Why Facebook's Potential $3B to 5B FTC Fine Is Like a Library Fee
Another day, another Facebook headline. Jim Cramer says he isn't too worried about Facebook's potential FTC fine after the social media giant reported strong than expected earnings