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Proofpoint Announces First Quarter 2014 Financial Results

SUNNYVALE, CA -- (Marketwired) -- 04/30/14 -- Proofpoint, Inc. (NASDAQ: PFPT)

  • Total revenue of $42.7 million, up 39% year-over-year
  • Billings of $46.6 million, up 33% year-over-year
  • GAAP EPS loss of $0.39; Non-GAAP EPS loss of $0.12
  • Generated operating cash flow of $4.1 million and free cash flow of $1.8 million
  • Increasing FY 2014 revenue and billings guidance

Proofpoint, Inc. (NASDAQ: PFPT), a leading security-as-a-service provider, today announced financial results for the first quarter ended March 31, 2014.

"We are very pleased with the strong start to the year, which was highlighted by our robust revenue and billings growth during the first quarter," stated Gary Steele, chief executive officer of Proofpoint. "Our ability to exceed expectations across all key operating metrics was driven by our continued high win rates across our entire product line, strong renewals, and expansion with our existing customers."

Steele continued, "As the competitive landscape continues to shift in our favor, Proofpoint remains in position to grow market share globally. Consequently, we remain committed to innovation in product development to extend our leadership position and to expansion of our sales and marketing infrastructure."

First Quarter 2014 Financial Highlights

  • Revenue: Total revenue for the first quarter of 2014 was $42.7 million, an increase of 39% compared to $30.8 million in the prior-year period. Within total revenue, subscription revenue was $41.2 million, an increase of 45% on a year-over-year basis. Hardware and services revenue contributed the remaining $1.5 million of total revenue.

  • Billings: Total billings were $46.6 million for the first quarter of 2014, an increase of 33% compared to $35.1 million in the first quarter of 2013. The company defines billings, a non-GAAP financial measure, as revenue recognized during the period plus the change in deferred revenue from the beginning to the end of the period.

  • Gross Profit: GAAP gross profit for the first quarter was $29.0 million compared to $21.7 million for the first quarter of 2013. Non-GAAP gross profit for the quarter was $30.4 million compared to $22.3 million in the year ago period. Non-GAAP gross margin was 71% for the first quarter of 2014, compared to 72% for the same period last year.

  • Operating Loss: GAAP operating loss for the first quarter was $11.3 million compared to a loss of $5.9 million during the first quarter last year. Non-GAAP operating loss for the first quarter of 2014 was $3.2 million, compared to a loss of $3.4 million during the same period last year.

  • Net Loss: GAAP net loss for the first quarter was $14.4 million or $0.39 per share based on 36.6 million weighted average diluted shares outstanding. This compares to a GAAP net loss of $6.4 million or $0.19 per share based on 33.5 million weighted average diluted shares outstanding in the prior-year period.

    Non-GAAP net loss for the first quarter of 2014 was $4.2 million or $0.12 per share based on 36.6 million weighted average shares outstanding. This compares to a loss of $3.9 million or $0.12 per share based on 33.5 million weighted average shares outstanding during the same period last year.

  • Adjusted EBITDA: Adjusted EBITDA for the first quarter of 2014 was negative $1.4 million compared to negative $2.1 million for the first quarter of 2013.

  • Cash and Cash Flow: As of March 31, 2014, Proofpoint had cash, cash equivalents and short term investments of $257.2 million, an increase of $5.4 million from the end of the prior quarter.

    The company generated $4.1 million in net cash from operations for the first quarter of 2014 compared to generating $1.2 million during the first quarter of 2013. The company generated $1.8 million in free cash flow for the quarter compared to $0.2 million during the first quarter of 2013.

A reconciliation of GAAP to non-GAAP financial measures has been provided in the financial tables included in this press release. An explanation of these measures and how they are calculated are also included below under the heading "Non-GAAP Financial Measures."

First Quarter and Recent Business Highlights:

  • Selected as a Reader Trust award winner in the Best Email Security Solution category for the 2014 SC Magazine Awards.

  • Launched Proofpoint Malvertising Protection for publishers & demand side platforms and Targeted Attack Protection for enterprise defense against attackers' use of malware via internet advertising network.

  • Added Next-Generation Predictive Defense™ to Targeted Attack Protection solution.

  • Joined the Ready for IBM Security Intelligence program and unveiled a new device support module (DSM) that enables information and event integration between IBM QRadar Security Intelligence Platform products and the Proofpoint Enterprise Protection and Proofpoint Enterprise Privacy offerings.

"Proofpoint's execution was strong during the first quarter, as evidenced by our year-over-year growth rates in subscription revenue and in billings of 45% and 33%, respectively," stated Paul Auvil, chief financial officer of Proofpoint. "The combination of our strong balance sheet and ability to generate free cash flow positions the company to maintain momentum and grow market share globally."

Financial Outlook
As of April 30, 2014 Proofpoint is providing guidance for its second quarter and full year 2014 as follows:

  • Second Quarter 2014 Guidance: Total revenue is expected to be in the range of $43.0 million to $44.0 million. Billings are expected to be in the range of $45.5 million to $47.5 million. Adjusted EBITDA loss is expected to be in the range of $1.0 million to $2.0 million. Non-GAAP EPS loss is expected to be in the range of $0.11 to $0.13 based on approximately 37.3 million weighted average shares outstanding.

  • Full Year 2014 Guidance: Total revenue is expected to be in the range of $178.0 million to $180.0 million. Billings is expected to be in the range of $207.0 million to $209.0 million. Adjusted EBITDA loss is expected to be in the range of $3.0 million to $5.0 million. Non-GAAP EPS loss is expected to be in the range of $0.41 to $0.46 based on approximately 37.7 million weighted average shares outstanding. Free cash flow, defined as operating cash flow less capital expenditures, is expected to be approximately positive $10.0 million, which assumes capital expenditures of $13.0 million to $15.0 million for the full year.

Quarterly Conference Call
Proofpoint will host a conference call today at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to review the company's financial results for the first quarter ended March 31, 2014. To access this call, dial 888-296-4305 for the U.S. and Canada or 719-325-2307 for international callers with conference ID #9531561. A live webcast of the conference call will be accessible from the Investors section of Proofpoint's website at investors.proofpoint.com, and a recording will be archived and accessible at investors.proofpoint.com. An audio replay of this conference call will also be available through May 14, 2014, by dialing 877.870.5176 for the U.S. and Canada or 858.384.5517 for international callers and entering passcode #9531561.

About Proofpoint, Inc.
Proofpoint, Inc. (NASDAQ: PFPT) is a leading security-as-a-service provider that focuses on cloud-based solutions for threat protection, compliance, archiving & governance, and secure communications. Organizations around the world depend on Proofpoint's expertise, patented technologies, and on-demand delivery system to protect against phishing, malware and spam, safeguard privacy, encrypt sensitive information, and archive and govern messages and critical enterprise information. More information is available at www.proofpoint.com.

Proofpoint is a trademark or registered trademark of Proofpoint, Inc. in the U.S. and other countries. All other trademarks contained herein are the property of their respective owners.

Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements include statements regarding momentum in the company's business, market position, future growth, market share and future financial results. It is possible that future circumstances might differ from the assumptions on which such statements are based. Important factors that could cause results to differ materially from the statements herein include: other risks that may inhibit our drive to expand our business and global market share; failure to maintain or increase renewals and increased business from existing customers and failure to generate increased business through existing or new channel partner relationships; uncertainties related to continued success in sales growth and market share gains; failure to convert sales opportunities into definitive customer agreements; risks associated with successful implementation of multiple integrated software products and other product functionality; competition, particularly from larger companies with more resources than Proofpoint; risks related to new target markets, new product introductions and innovation; the ability to attract and retain key personnel; changes in strategy; risks associated with management of growth; lengthy sales and implementation cycles, particularly in larger organizations; the time it takes new sales personnel to become fully productive; unforeseen delays in developing new technologies and the uncertain market acceptance of new products or features; technological changes that make Proofpoint's products and services less competitive; risks associated with the adoption of, and demand for, the Security-as-a-Service model in general and by specific industries; the effect of general economic conditions, including as a result of specific economic risks in different geographies and among different industries; risks related to integrating the employees, customers and technologies of acquired businesses; assumption of unknown liabilities from acquisitions; ability to retain customers of acquired entities; and the other risk factors set forth from time to time in our filings with the SEC, including our Annual Report on Form 10-K for the year ended December 31, 2013, and the other reports we file with the SEC, copies of which are available free of charge at the SEC's website at www.sec.gov or upon request from our investor relations department. All forward-looking statements herein reflect our opinions only as of the date of this release, and Proofpoint undertakes no obligation, and expressly disclaims any obligation, to update forward-looking statements herein in light of new information or future events.

Non-GAAP Financial Measures
We have provided in this release financial information that has not been prepared in accordance with GAAP. We use these non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with other companies in our industry, many of which present similar non-GAAP financial measures to investors.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures below. As previously mentioned, a reconciliation of our non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release.

Non-GAAP gross profit. We define non-GAAP gross profit as GAAP gross profit, less stock-based compensation expense and the amortization of intangibles associated with acquisitions. We consider this non-GAAP financial measure to be a useful metric for management and investors because they exclude the effect of stock-based compensation expense and the amortization of intangibles associated with acquisitions so that our management and investors can compare our recurring core business operating results over multiple periods. There are a number of limitations related to the use of non-GAAP gross profit versus gross profit calculated in accordance with GAAP. Non-GAAP gross profit excludes stock-based compensation expense. Stock-based compensation has been and will continue to be for the foreseeable future a significant recurring expense in our business. Stock-based compensation is an important part of our employees' compensation and impacts their performance. In addition, the components of the costs that we exclude in our calculation of non-GAAP gross profit may differ from the components that our peer companies exclude when they report their non-GAAP results. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP gross profit and evaluating non-GAAP gross profit together with gross profit calculated in accordance with GAAP.

Non-GAAP operating loss. We define non-GAAP operating loss as operating loss less stock-based compensation expense and the amortization of intangibles and non-recurring costs associated with acquisitions and litigation. We consider this non-GAAP financial measure to be a useful metric for management and investors because they exclude the effect of stock-based compensation expense and the amortization of intangibles and non-recurring costs associated with acquisitions so that our management and investors can compare our recurring core business operating results over multiple periods. There are a number of limitations related to the use of non-GAAP operating loss versus operating loss calculated in accordance with GAAP. For example, non-GAAP operating loss excludes stock-based compensation expense. Stock-based compensation has been and will continue to be for the foreseeable future a significant recurring expense in our business. Stock-based compensation is an important part of our employees' compensation and impacts their performance. In addition, the components of the costs that we exclude in our calculation of non-GAAP operating loss may differ from the components that our peer companies exclude when they report their non-GAAP results of operations. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from non-GAAP operating loss and evaluating non-GAAP operating loss together with operating loss calculated in accordance with GAAP.

Non-GAAP net loss. We define non-GAAP net loss as net loss less stock-based compensation expense and the amortization of intangibles and non-recurring costs associated with acquisitions and litigation, and non-cash interest expense related to the convertible debt discount and non-recurring issuance costs for the convertible debt offering. We consider this non-GAAP financial measure to be a useful metric for management and investors for the same reasons that we use non-GAAP operating loss. However, in order to provide a complete picture of our recurring core business operating results, we also exclude from non-GAAP net loss the tax effects associated with stock-based compensation and the amortization of intangibles and non-recurring costs associated with acquisitions and litigation, and non-cash interest expense related to the convertible debt discount and non-recurring issuance costs for the convertible debt offering. We used a 5 percent effective tax rate to calculate non-GAAP net loss for the first quarter of 2014 and 4 percent for the first quarter of 2013. We believe that a 15-20% effective tax rate range is a reasonable estimate of the near-term normalized tax rate under our current global operating structure. The same limitations described above regarding our use of non-GAAP operating loss also apply to our use of non-GAAP net loss.

Billings. We define billings as revenue recognized plus the change in deferred revenue from the beginning to the end of the period, but excluding additions to deferred revenue from acquisitions. We consider billings to be a useful metric for management and investors because billings drive deferred revenue, which is an important indicator of the health and visibility of our business, and has historically represented a majority of the quarterly revenue that we recognize. There are a number of limitations related to the use of billings versus revenue calculated in accordance with GAAP. Billings include amounts that have not yet been recognized as revenue, but excluding additions to deferred revenue from acquisitions. We may also calculate billings in a manner that is different from other companies that report similar financial measures. Management compensates for these limitations by providing specific information regarding GAAP revenue and evaluating billings together with revenues calculated in accordance with GAAP.

Adjusted EBITDA. We define adjusted EBITDA as net loss, adjusted to exclude: depreciation, amortization of intangibles, interest income (expense), net, provision for income taxes, stock-based compensation, acquisition- and litigation-related expense, other income, and other expense. We believe that the use of adjusted EBITDA is useful to investors and other users of our financial statements in evaluating our operating performance because it provides them with an additional tool to compare business performance across companies and across periods. We use adjusted EBITDA in conjunction with traditional GAAP operating performance measures as part of our overall assessment of our performance, for planning purposes, including the preparation of our annual operating budget, to evaluate the effectiveness of our business strategies and to communicate with our board of directors concerning our financial performance. We do not place undue reliance on adjusted EBITDA as our only measure of operating performance. Adjusted EBITDA should not be considered as a substitute for other measures of financial performance reported in accordance with GAAP. There are limitations to using this non-GAAP financial measure, including that other companies may calculate this measure differently than we do, that it does not reflect our capital expenditures or future requirements for capital expenditures and that it does not reflect changes in, or cash requirements for, our working capital.

Free cash flow. We define free cash flow as net cash provided by operating activities minus capital expenditures. We consider free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that, after the acquisition of property and equipment, can be used for strategic opportunities, including investing in our business, making strategic acquisitions, and strengthening the balance sheet. Analysis of free cash flow facilitates management's comparisons of our operating results to competitors' operating results. A limitation of using free cash flow versus the GAAP measure of net cash provided by operating activities as a means for evaluating our company is that free cash flow does not represent the total increase or decrease in the cash balance from operations for the period because it excludes cash used for capital expenditures during the period. Management compensates for this limitation by providing information about our capital expenditures on the face of the cash flow statement and in the "Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources" section of our quarterly and annual reports filed with the SEC.


                              Proofpoint, Inc.
              Condensed Consolidated Statements of Operations
                             (On a GAAP basis)
                  (In thousands, except per share amounts)
                                (Unaudited)

                                                        Three Months Ended
                                                             March 31,
                                                       --------------------
                                                          2014       2013
                                                       ---------  ---------
Revenue:
  Subscription                                         $  41,204  $  28,452
  Hardware and services                                    1,500      2,312
                                                       ---------  ---------
    Total revenue                                         42,704     30,764
Cost of revenue:(1)(2)
  Subscription                                            11,451      7,829
  Hardware and services                                    2,260      1,239
                                                       ---------  ---------
    Total cost of revenue                                 13,711      9,068
                                                       ---------  ---------
Gross profit                                              28,993     21,696
Operating expense:(1)(2)
  Research and development                                11,948      7,562
  Sales and marketing                                     22,818     16,128
  General and administrative                               5,506      3,902
                                                       ---------  ---------
    Total operating expense                               40,272     27,592
                                                       ---------  ---------
Operating loss                                           (11,279)    (5,896)
Interest (expense) income, net                            (2,773)        12
Other expense, net                                          (199)      (367)
                                                       ---------  ---------
Loss before provision for income taxes                   (14,251)    (6,251)
Provision for income taxes                                  (144)      (142)
                                                       ---------  ---------
Net loss                                               $ (14,395) $  (6,393)
                                                       =========  =========
Net loss per share, basic and diluted                  $   (0.39) $   (0.19)
                                                       =========  =========
Weighted average shares outstanding, basic and diluted    36,564     33,461

(1) Includes stock-based compensation expense as
 follows:
      Cost of subscription revenue                     $     412  $     232
      Cost of hardware and services revenue                  129         36
      Research and development                             2,034        505
      Sales and marketing                                  2,097        774
      General and administrative                           1,301        524
                                                       ---------  ---------
        Total stock-based compensation expense         $   5,973  $   2,071
                                                       =========  =========
(2) Includes intangible amortization expense as
 follows:
      Cost of subscription revenue                     $     829  $     326
      Research and development                                23          8
      Sales and marketing                                  1,097         70
      General and administrative                              11          -
                                                       ---------  ---------
        Total intangible amortization expense          $   1,960  $     404
                                                       =========  =========



                              Proofpoint, Inc.
                   Condensed Consolidated Balance Sheets
                             (On a GAAP basis)
                  (In thousands, except per share amounts)
                                (Unaudited)

                                                 March 31,     December 31,
                                               -------------  -------------
                                                    2014           2013
                                               -------------  -------------
Assets
Current assets
  Cash and cash equivalents                    $     257,247  $     243,786
  Short-term investments                                   -          8,015
  Accounts receivable, net                            22,347         26,221
  Inventory                                            1,296            860
  Deferred product costs, current                      1,222          1,004
  Prepaid expenses and other current assets            8,750          7,963
                                               -------------  -------------
    Total current assets                             290,862        287,849
Property and equipment, net                           12,853         11,221
Deferred product costs, noncurrent                       282            357
Goodwill                                              63,764         63,764
Intangible assets, net                                21,016         22,976
Other noncurrent assets                                4,297          4,392
                                               -------------  -------------
    Total assets                               $     393,074  $     390,559
                                               =============  =============
Liabilities and Stockholders' Equity
Current liabilities
  Accounts payable                             $       8,804  $       7,281
  Accrued liabilities                                 18,519         19,260
  Notes payable and lease obligations, current         1,659          1,655
  Deferred rent, current                                 246            297
  Deferred revenue, current                           92,643         89,450
                                               -------------  -------------
    Total current liabilities                        121,871        117,943
Convertible senior notes                             155,058        152,928
Notes payable and lease obligations,
 noncurrent                                              280            695
Other long term liabilities, noncurrent                7,324          7,300
Deferred revenue, noncurrent                          35,250         34,533
                                               -------------  -------------
    Total liabilities                                319,783        313,399
                                               -------------  -------------

Stockholders' equity
Common stock, $0.0001 par value; 200,000
 shares authorized at March 31, 2014 and
 December 31, 2013; 36,926 and 36,140 shares
 issued and outstanding at March 31, 2014 and
 December 31, 2013, respectively                           4              4
Additional paid-in capital                           297,691        287,165
Accumulated deficit                                 (224,404)      (210,009)
                                               -------------  -------------
  Total stockholders' equity                          73,291         77,160
                                               -------------  -------------
  Total liabilities and stockholders' equity   $     393,074  $     390,559
                                               =============  =============



                              Proofpoint, Inc.
              Condensed Consolidated Statements of Cash Flows
                             (On a GAAP basis)
                               (In thousands)
                                (Unaudited)

                                                        Three Months Ended
                                                             March 31,
                                                       --------------------
                                                          2014       2013
                                                       ---------  ---------
Cash flows from operating activities
  Net loss                                             $ (14,395) $  (6,393)
  Adjustments to reconcile net loss to net cash
   provided by operating activities
    Depreciation and amortization                          3,802      1,677
    Accretion of discounts on investments                     15        239
    Provision for allowance for doubtful accounts             (7)        17
    Stock-based compensation                               5,973      2,071
    Deferred income taxes                                    117          -
    Change in fair value of contingent earn-outs               5          -
    Amortization of debt issuance costs and accretion
     of debt discount                                      2,143          -
    Changes in assets and liabilities:
      Accounts receivable                                  3,881     (2,446)
      Inventory                                             (435)       157
      Deferred products costs                               (143)       (47)
      Prepaid expenses and other current assets             (789)       (68)
      Noncurrent assets                                      (89)         6
      Accounts payable                                       762      1,738
      Accrued liabilities                                   (613)      (126)
      Deferred rent                                          (18)        49
      Deferred revenue                                     3,910      4,321
                                                       ---------  ---------
        Net cash provided by operating activities          4,119      1,195
                                                       ---------  ---------
Cash flows from investing activities
  Proceeds from sales and maturities of short-term
   investments                                             8,000     21,836
  Purchase of short-term investments                           -    (20,413)
  Purchase of property and equipment                      (2,291)      (988)
                                                       ---------  ---------
      Net cash provided by investing activities            5,709        435
                                                       ---------  ---------
Cash flows from financing activities
  Proceeds from issuance of common stock, net of
   repurchases                                             4,155      4,184
  Payments of debt issuance costs                           (111)         -
  Repayments of notes payable and loans                     (411)      (414)
                                                       ---------  ---------
      Net cash provided by financing activities            3,633      3,770
                                                       ---------  ---------
      Net increase in cash and cash equivalents           13,461      5,400
Cash and cash equivalents
  Beginning of period                                    243,786     39,254
                                                       ---------  ---------
  End of period                                        $ 257,247  $  44,654
                                                       =========  =========



                    Reconciliation of Non-GAAP Measures
                  (In thousands, except per share amounts)
                                (Unaudited)

                                                        Three Months Ended
                                                             March 31,
                                                       --------------------
                                                          2014       2013
                                                       ---------  ---------

GAAP gross profit                                      $  28,993  $  21,696
Plus:
Stock-based compensation expense                             541        268
Intangible amortization expense                              829        326
                                                       ---------  ---------
Non-GAAP gross profit                                     30,363     22,290
                                                       ---------  ---------

GAAP operating loss                                      (11,279)    (5,896)
Plus:
Stock-based compensation expense                           5,973      2,071
Intangible amortization expense                            1,960        404
Non-recurring acquisition expense                             12         39
Non-recurring litigation expense                             122          -
                                                       ---------  ---------
Non-GAAP operating loss                                   (3,212)    (3,382)
                                                       ---------  ---------

GAAP net loss                                            (14,395)    (6,393)
Plus:
Stock-based compensation expense                           5,973      2,071
Intangible amortization expense                            1,960        404
Non-recurring acquisition expense                             12         39
Non-recurring litigation expense                             122          -
Interest expense - debt discount and debt issuance
 costs                                                     2,143          -
Non-recurring income tax benefit                             (57)         -
                                                       ---------  ---------
Non-GAAP net loss                                         (4,242)    (3,879)
                                                       ---------  ---------


                                                       ---------  ---------
Shares used in computing non-GAAP net loss per share,
 basic and diluted                                        36,564     33,461
                                                       ---------  ---------

Non-GAAP net loss, basic and diluted                   $   (0.12) $   (0.12)



               Reconciliation of Net Loss to Adjusted EBITDA
                               (In thousands)
                                (Unaudited)

                                                        Three Months Ended
                                                             March 31,
                                                       --------------------
                                                          2014       2013
                                                       ---------  ---------

Net loss                                               $ (14,395) $  (6,393)
Depreciation                                               1,842      1,273
Amortization of intangible assets                          1,960        404
Interest expense (income), net                             2,773        (12)
Provision for income taxes                                   144        142
                                                       ---------  ---------
EBITDA                                                 $  (7,676) $  (4,586)
                                                       ---------  ---------

Stock-based compensation expense                       $   5,973  $   2,071
Acquisition-related expenses                                  12         39
Litigation-related expenses                                  122          -
Other income                                                 (10)        (2)
Other expense                                                209        369
                                                       ---------  ---------
Adjusted EBITDA                                        $  (1,370) $  (2,109)
                                                       ---------  ---------



                Reconciliation of Total Revenue to Billings
                               (In thousands)
                                (Unaudited)

                                                        Three Months Ended
                                                             March 31,
                                                       --------------------
                                                          2014       2013
                                                       ---------  ---------

Total revenue                                          $  42,704  $  30,764

Deferred revenue
Ending                                                   127,893     91,180
Beginning                                                123,983     86,859
                                                       ---------  ---------
Net Change                                                 3,910      4,321
                                                       ---------  ---------

                                                       ---------  ---------
Billings                                               $  46,614  $  35,085
                                                       ---------  ---------


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MEDIA CONTACT:
Orlando DeBruce
Proofpoint, Inc.
408-338-6870
Email Contact

INVESTOR CONTACT:
Seth Potter
ICR, Inc. for Proofpoint, Inc.
646-277-1230
Email Contact

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We are reaching the end of the beginning with WebRTC and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) irreversibly encoded. In his session at Internet of @ThingsExpo, Peter Dunkley, Technical Director at Acision, will look at how this identity problem can be solved and discuss ways to use existing web identities for real-time communication.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn real-world benefits of WebRTC and explore future possibilities, as WebRTC and IoT intersect to improve customer service.
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, an Open Source Cloud Communications company that helps the shift from legacy IN/SS7 telco networks to IP-based cloud comms. An early investor in multiple start-ups, he still finds time to code for his companies and contribute to open source projects.
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines.
All major researchers estimate there will be tens of billions devices – computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be!
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice services to the modern P2P RTC era of OTT cloud assisted services.
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehension and conference efficiency.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example to explain some of these concepts including when to use different storage models.
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace. These technological reforms have not only changed computers and smartphones, but are also changing the data processing model for all information devices. In particular, in the area known as M2M (Machine-To-Machine), there are great expectations that information with a new type of value can be produced using a variety of devices and sensors saving/sharing data via the network and through large-scale cloud-type data processing. This consortium believes that attaching a huge number of devic...
Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies, with a focus on the enterprise, industrial, aerospace, and defense industries. Innodisk is dedicated to serving their customers and business partners. Quality is vitally important when it comes to industrial embedded flash and DRAM storage products. That’s why Innodisk manufactures all of their products in their own purpose-built memory production facility. In fact, they designed and built their production center to maximize manufacturing efficiency and guarantee the highest quality of our products.
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. Every other IT news item seems to be about IoT and its implications on the future of digital business.
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. Download Slide Deck: ▸ Here
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
With the iCloud scandal seemingly in its past, Apple announced new iPhones, updates to iPad and MacBook as well as news on OSX Yosemite. Although consumers will have to wait to get their hands on some of that new stuff, what they can get is the latest release of iOS 8 that Apple made available for most in-market iPhones and iPads. Originally announced at WWDC (Apple’s annual developers conference) in June, iOS 8 seems to spearhead Apple’s newfound focus upon greater integration of their products into everyday tasks, cross-platform mobility and self-monitoring. Before you update your device, here is a look at some of the new features and things you may want to consider from a mobile security perspective.