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Mimecast Ltd

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2022 10-Q, filed Feb 3, 2022. Its latest SEC filing is a 4/A from May 31, 2022.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Provides cloud-based security and resilience services for email and corporate information, including email protection, archiving and continuity, to organizations of all sizes.

How Did They Make Money?

Organizations pay for hosted services and support through annual or multi-year subscriptions, generally billed and collected in advance monthly or annually; setup, data migration, consulting and training are also sold as professional services.

FY2021 revenue

Who Were Their Customers?

Organizations of all sizes, from large enterprises to small businesses, buy through Mimecast's direct sales team and channel partners. Partners target large and mid-market accounts, while resellers and managed service providers primarily serve small businesses.

Did Revenues Turn Into Profits?

Yes. It kept 6 cents of every revenue dollar as net income in FY2021 and turned 18 cents into free cash flow.

Operating income, FY2021
6% of revenue
▲ +1260% vs FY2020 ($2.3M, 1%)
Net income, FY2021
6% of revenue
▲ Now profitable vs FY2020 (−$2.2M, −1%)
Free cash flow, FY2021
18% of revenue
▲ +137% vs FY2020 ($37.3M, 9%)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q3 FY2022, the three months to Dec 31, 2021
Revenue
▲ +17%
vs $129.6M in Q3 FY2021
Net income
▲ +28%
vs $10.8M in Q3 FY2021
  • May 23, 2022 Permira completed its acquisition of Mimecast Shareholders received $80.00 per share in cash, and Mimecast shares ceased trading on public markets.

Grew. Revenue grew 2.7x in 4 years, from $186.6M in FY2017 to $501.4M in FY2021, about 28% a year.

Expanded product lineup The latest report adds DMARC Analyzer and Brand Exploit Protect to the lineup the older report describes through email protection, continuity and archiving.

Who Did They Compete With?

Competes with Google, Microsoft, Barracuda Networks, Proofpoint, Symantec, Agari Data, Cisco Systems, Avanan, GreatHorn, IronScales, INKY Technology, Abnormal Security, Dell EMC, Veritas Technologies, Smarsh, Global Relay Communications, KnowBe4, Cofense, Webroot, and Zscaler

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