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GLOBALSCAPE INC

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2020 10-Q, filed Aug 10, 2020. Its latest SEC filing is a SC 13G/A from Feb 11, 2022.

The sections below describe the company as of the FY2019 annual report.

What Did They Do?

Sells and supports secure file-transfer software that helps enterprises move data within and between computer networks.

How Did They Make Money?

Most revenue comes from maintenance and support, for which clients pay upfront for terms generally lasting one to three years. Clients also pay one-time fees for perpetual software licenses, monthly subscription and usage fees for hosted software, and fees for professional services billed when delivered.

FY2012 revenue

Who Were Their Customers?

Individuals and businesses, including those in regulated industries, and government agencies can buy directly or through third-party channel resellers.

Customers above 10% of revenue, FY2019
of revenue from one customer
FY2018: 14% from one customer

Did Revenues Turn Into Profits?

Not on paper. It lost $1.8M in FY2012, but brought in more cash than it spent: $3.6M of free cash flow.

Operating income, FY2012
−6% of revenue
▼ Now a loss vs FY2011 ($791K, 4%)
Net income, FY2012
−8% of revenue
▼ Now a loss vs FY2011 ($635K, 3%)
Free cash flow, FY2012
16% of revenue
▲ +38% vs FY2011 ($2.6M, 13%)

How Were They Changing?

Since the FY2019 annual report
Latest quarter: Q2 FY2020, the three months to Jun 30, 2020
Revenue
▼ −2%
vs $10.3M in Q2 FY2019
Net income
▼ −4%
vs $3.6M in Q2 FY2019
  • Aug 28, 2020 HelpSystems completed its acquisition of GlobalSCAPE GlobalSCAPE became a wholly owned subsidiary, and requested that its shares be delisted.
  • Jul 20, 2020 GlobalSCAPE agreed to be acquired by HelpSystems The agreement set out a cash offer for company shares, followed by a merger.

Grew. Revenue grew 42% in 3 years, from $16.5M in FY2009 to $23.4M in FY2012, about 12% a year.

Products withdrawn from sale The latest report says Mail Express and WAFS are no longer sold, though support continues; the older report listed them among products sold alongside CuteFTP.

Who Did They Compete With?

Competes with IBM, GoAnywhere, Axway, Accellion, Ipswitch, BMC, Cleo, Acronis, Signiant, Serv-U, JSCAPE, and Van Dyke Software

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