Mimecast drives Office 365 service provider growth

Email security and management vendor Mimecast, which is orchestrating the growth of a vibrant service provider partner network, has posted a 33% increase in third quarter sales for the period ending 31st December 2018.

Over 40% of Mimecast customers now use its platform in conjunction with Office 365, which is up from 29% in Q3 the previous year.

Third quarter sales came in at $88m with adjusted EBITDA reaching $16m. As a result, there was a modest $460,000 net profit for the quarter compared to a $2.6m loss in the same quarter a year ago.

The company is predicting similar growth rates for Q419, with FY19 guidance anticipated at around $339m – equivalent to year-over-year growth of 31%.

Peter Bauer, CEO of Mimecast, said: “The strong execution from our global go-to-market, product and customer service teams resulted in another strong quarter of new customer acquisitions, increased adoption of our expanded offerings and record customer retention.”

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