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ZIX CORP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2021 10-Q, filed Nov 9, 2021. Its latest SEC filing is a SC 13G/A from Feb 9, 2022.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Provides cloud-based email security, archiving and data backup services to businesses, particularly in healthcare, financial services, insurance and government.

How Did They Make Money?

Customers pay subscription fees for access to Zix's software services, historically billed annually and increasingly billed monthly; Zix earns the fees as it provides those services over the subscription term.

FY2020 revenue

Who Were Their Customers?

Zix sells to businesses across industries, with emphasis on healthcare, financial services, and insurance and government. Larger businesses are served by direct sales; smaller accounts by telesales, and resellers and managed service providers also distribute its services.

Did Revenues Turn Into Profits?

No. It lost $6.4M in FY2020.

Operating income, FY2020
2% of revenue
▲ Now profitable vs FY2019 (−$9.1M, −5%)
Net income, FY2020
−3% of revenue
▼ −56% (Loss) vs FY2019 (−$14.6M, −8%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q3 FY2021, the three months to Sep 30, 2021
Net income
▲ +232% (Loss)
vs −$725K in Q3 FY2020
  • Dec 23, 2021 OpenText completed its acquisition of Zix Zix became a wholly owned OpenText subsidiary, and its shares were to be delisted from Nasdaq.

Grew. Revenue grew 3.6x in 4 years, from $60.1M in FY2016 to $218.5M in FY2020, about 38% a year.

Broader product range The latest report adds cloud data backup and Microsoft productivity and email solutions to the security offerings described in the older report.

Who Did They Compete With?

Competes with Proofpoint, Mimecast, Barracuda Networks, PAX8, Datto, Sherweb, Virtru, Agari, Smarsh, Veeam, and Microsoft

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