Gigamon Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2017 10-Q, filed Nov 3, 2017. Its latest SEC filing is a 15-12B from Jan 8, 2018.

The sections below describe the company as of the FY2016 annual report.

What Did They Do?

Builds network-visibility hardware and software that filters and directs network traffic to security, monitoring and analysis tools for businesses, government agencies and service providers.

How Did They Make Money?

Channel partners and end users buy perpetual software licenses installed on physical appliances, with product sales counted when the products are delivered. End users also buy maintenance and support contracts, with service revenue spread over the contract term, typically one year.

FY2016 revenue

Who Were Their Customers?

Businesses, government agencies and service providers buy Gigamon's network products, either directly from its sales force or through distributors and resellers.

Direct customers above 10% of revenue, FY2016

of revenue from one customer

FY2014: no customer at 10% or more of revenue

Did Revenues Turn Into Profits?

Yes. It kept 16 cents of every revenue dollar as net income in FY2016 and turned 9 cents into free cash flow.

Operating income, FY2016

10% of revenue

▲ +162% vs FY2015 ($11.6M, 5%)

Net income, FY2016

16% of revenue

▲ +699% vs FY2015 ($6.2M, 3%)

Free cash flow, FY2016

9% of revenue

▼ −49% vs FY2015 ($57.1M, 26%)

How Were They Changing?

Since the FY2016 annual report

Latest quarter: Q3 FY2017, the three months to Sep 30, 2017

Revenue: ▼ −5%; vs $83.5M in Q3 FY2016
Net income: ▼ −64%; vs $6.1M in Q3 FY2016

Dec 27, 2017 Gigamon’s acquisition closed and control changed Gigamon became a wholly owned subsidiary of Newco, and its common stock was delisted from the NYSE.
Oct 26, 2017 Agreed to a merger with Elliott-affiliated buyers The agreement provided for $38.50 in cash per share and for Gigamon to become a wholly owned subsidiary of Newco.

Grew. Revenue grew 3.2x in 4 years, from $96.7M in FY2012 to $310.9M in FY2016, about 34% a year.

Public-cloud coverage The older report describes software-only products for virtualized and cloud-based applications; the latest adds a visibility offering for Amazon Web Services public-cloud environments.

Who Did They Compete With?

Competes with Cisco Systems, Brocade Communications Systems, Arista Networks, Netscout, and Ixia

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