Webroot reports 19th consecutive growth quarter

BROOMFIELD — Webroot Inc., a cybersecurity company based in Broomfield, reported 11 percent year-over-year annual recurring revenue growth for the first quarter of its 2019 fiscal year, ending on Sept. 30, 2018. The revenue growth marks the 19th consecutive quarter of double-digit, year-over-year company growth for Webroot. The company’s products are used by 300,000 businesses worldwide.

Webroot’s business segment annual recurring revenue grew by 22 percent, and its consumer segment grew 5 percent.

“With 19 consecutive quarters of double-digit growth under our belts, it truly is an exciting time to be at Webroot,” CEO Mike Potts said in a written statement. “Our network of MSPs serving small- and medium-sized businesses continues to grow at record rates because Webroot is laser-focused on what this market needs to combat the ever-growing risk of threats: cybersecurity that is comprehensive, effective, and simple to deploy and manage.”

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Other highlights of the quarterly earnings report:

• Webroot now serves more than 13,300 managed service providers globally, up from 10,200 at the end of its first quarter in 2018.
• Webroot added a dozen new BrightCloud Threat Intelligence Services technology alliance partners, protecting customers’ networks and end users from malicious URLs, IPs, files, and mobile apps.

• Webroot released a new report, The 2018 Webroot SMB Pulse Report, which found that across 500 small to medium-sized businesses in the United States, phishing scams were the top cybersecurity threat. While many SMBs still don’t fully recognize the broad spectrum of threats they face, they see an opportunity for user awareness training to reduce the risk from cyber threats.