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FINJAN HOLDINGS, INC.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2020 10-Q, filed May 13, 2020. Its latest SEC filing is a 15-12B from Aug 3, 2020.

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

What Did They Do?

Licenses and enforces patents covering cybersecurity technologies for technology companies, and develops mobile security apps for consumers.

How Did They Make Money?

Finjan earns money by licensing its patented cybersecurity technology and settling claims over unauthorized use. License fees are usually lump sums paid when agreements are signed or in installments; some agreements add royalty payments if licensees meet specified milestones.

FY2019 revenue

Who Were Their Customers?

Businesses whose products use Finjan's patents license them through negotiated agreements or settlements after enforcement; consumers are the intended users of its mobile browser and VPN.

Did Revenues Turn Into Profits?

No. It lost $16.5M in FY2019.

Operating income, FY2019
−170% of revenue
▼ Now a loss vs FY2018 ($32.7M, 40%)
Net income, FY2019
−125% of revenue
▼ Now a loss vs FY2018 ($20.7M, 25%)
Free cash flow, FY2019
−79% of revenue
▼ Now a loss vs FY2018 ($25.6M, 31%)

How Were They Changing?

Since the FY2019 annual report
Latest quarter: Q1 FY2020, the three months to Mar 31, 2020
Revenue
vs $0 in Q1 FY2019
Net income
▼ −30% (Loss)
vs −$6M in Q1 FY2019
  • Jul 24, 2020 Fortress affiliates completed the acquisition of Finjan Finjan became a wholly owned subsidiary, and its shares stopped trading on Nasdaq.
  • Jun 10, 2020 Finjan agreed to a cash tender offer and merger The agreement provided for the buyer to acquire all shares, followed by a merger.

Grew. Revenue grew 2.8x in 4 years, from $4.7M in FY2015 to $13.2M in FY2019, about 29% a year.

Advisory services ended The older report included advisory services as a business line; the latest report says CybeRisk closed and describes licensing, mobile security and cybersecurity investments instead.

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