MIME · Mimecast Ltd - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Revenue | $501.40M | $426.96M | $186.56M | $261.90M | $186.56M | $141.84M |
| Cost of Revenue | $121.71M | $109.38M | $90.87M | $69.70M | $50.31M | $41.81M |
| Gross Profit | $379.69M | $317.58M | $249.50M | $192.20M | $136.25M | $100.03M |
| R&D | $97.50M | $80.79M | $57.94M | $38.37M | $22.59M | $17.66M |
| SG&A | $68.35M | $65.31M | $53.76M | $36.99M | $27.88M | $19.76M |
| Total Operating Expenses | $348.43M | $315.28M | $199.15M | $199.15M | $146.62M | $102.61M |
| D&A | $38.10M | $32.24M | $29.95M | $18.96M | $11.88M | $10.53M |
| Operating Income | $31.26M | $2.30M | ($1.22M) | ($6.95M) | ($10.37M) | ($2.57M) |
| Interest Expense | $2.80M | $4.51M | $5.94M | $598.0K | $268.0K | $690.0K |
| Income Tax | $1.70M | $2.36M | $2.00M | $2.71M | $2.20M | $865.0K |
| Net Income | $29.75M | ($2.20M) | ($7.00M) | ($12.39M) | ($5.44M) | ($3.24M) |
| EPS - Basic | ($0.04) | - | - | - | ($0.10) | ($0.08) |
| EPS - Diluted | ($0.04) | - | - | - | ($0.10) | ($0.08) |
Balance Sheet
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $292.95M | $173.96M | $137.58M | $78.34M | $51.32M | $32.89M |
| Accounts Receivable | $114.28M | $97.66M | $80.95M | $65.39M | $44.36M | $25.27M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $10.49M | $14.91M | $9.46M | $6.05M | $3.56M | $2.89M |
| Current Assets | $443.43M | $298.89M | $288.48M | $217.90M | $166.08M | $63.14M |
| Total Assets | $934.71M | $729.83M | $554.29M | $358.40M | $205.35M | $88.83M |
| Current Liabilities | $345.77M | $288.68M | $221.77M | $164.11M | $110.39M | $66.12M |
| Long-term Debt | $94.67M | $86.26M | $92.80M | - | $1.73M | $1.98M |
| Total Liabilities | $573.84M | $497.78M | $380.65M | $256.71M | $123.36M | $97.05M |
| Stockholders' Equity | $360.87M | $232.06M | $173.63M | $101.69M | $81.99M | ($53.85M) |
| Retained Earnings | ($53.91M) | ($83.66M) | ($83.63M) | ($106.51M) | ($94.02M) | ($85.33M) |
Cash Flow
| Line item | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $127.03M | $90.54M | $32.51M | $46.41M | $32.51M | $24.64M |
| Investing Cash Flow | ($55.57M) | ($65.54M) | ($35.02M) | ($35.02M) | ($84.61M) | ($14.23M) |
| Financing Cash Flow | $38.28M | $17.73M | ($332.0K) | $13.16M | ($332.0K) | $63.80M |
| CapEx | $38.60M | $53.23M | $28.80M | $14.23M | $18.49M | $14.23M |
| Free Cash Flow | $88.44M | $37.30M | $3.72M | $32.18M | $14.02M | $10.41M |
Ratios
| Metric | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 75.7% | 74.4% | 133.7% | 73.4% | 73.0% | 70.5% |
| Operating margin | 6.2% | 0.5% | -0.7% | -2.7% | -5.6% | -1.8% |
| EBITDA margin | 13.8% | 8.1% | 15.4% | 4.6% | 0.8% | 5.6% |
| Net margin | 5.9% | -0.5% | -3.8% | -4.7% | -2.9% | -2.3% |
| Free cash flow margin | 17.6% | 8.7% | 2.0% | 12.3% | 7.5% | 7.3% |
| FCF / Net income | 2.97 | -16.96 | -0.53 | -2.60 | -2.58 | -3.21 |
| R&D / Revenue | 19.4% | 18.9% | 31.1% | 14.7% | 12.1% | 12.5% |
| SG&A / Revenue | 13.6% | 15.3% | 28.8% | 14.1% | 14.9% | 13.9% |
| Effective tax rate | 5.4% | 1483.6% | - | - | - | - |
| Return on assets | 3.2% | -0.3% | -1.3% | -3.5% | -2.6% | -3.7% |
| Return on equity | 8.2% | -0.9% | -4.0% | -12.2% | -6.6% | 6.0% |
| Return on invested capital | 6.5% | 0.4% | -0.4% | - | -9.8% | - |
| Liquidity | ||||||
| Current ratio | 1.28 | 1.04 | 1.30 | 1.33 | 1.50 | 0.95 |
| Quick ratio | 1.28 | 1.04 | 1.30 | 1.33 | 1.50 | 0.95 |
| Cash ratio | 0.85 | 0.60 | 0.62 | 0.48 | 0.46 | 0.50 |
| Leverage | ||||||
| Debt / Equity | 0.26 | 0.37 | 0.53 | - | 0.02 | -0.04 |
| Debt / Assets | 0.10 | 0.12 | 0.17 | - | 0.01 | 0.02 |
| Debt / EBITDA | 1.36 | 2.50 | 3.23 | - | 1.15 | 0.25 |
| Interest coverage | 11.1x | 0.5x | -0.2x | -11.6x | -38.7x | -3.7x |
| Equity multiplier | 2.59 | 3.15 | 3.19 | 3.52 | 2.50 | -1.65 |
| Liabilities / Assets | 0.61 | 0.68 | 0.69 | 0.72 | 0.60 | 1.09 |
| Efficiency | ||||||
| Asset turnover | 0.54 | 0.59 | 0.34 | 0.73 | 0.91 | 1.60 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 83d | 83d | 158d | 91d | 87d | 65d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 31d | 50d | 38d | 32d | 26d | 25d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | 17.4% | 128.9% | -28.8% | 40.4% | 31.5% | - |
| Revenue CAGR (3y) | 24.2% | 31.8% | 9.6% | - | - | - |
| Revenue CAGR (5y) | 28.7% | - | - | - | - | - |
| Gross profit growth (YoY) | 19.6% | 27.3% | 29.8% | 41.1% | 36.2% | - |
| Operating income growth (YoY) | 1260.3% | - | 82.5% | 33.0% | -303.0% | - |
| Net income growth (YoY) | - | 68.6% | 43.5% | -127.6% | -67.7% | - |
| EPS growth (YoY) | - | - | - | - | -25.0% | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 137.1% | 903.1% | -88.4% | 129.5% | 34.7% | - |
| FCF CAGR (5y) | 53.4% | - | - | - | - | - |
| Book value growth (YoY) | 55.5% | 33.6% | 70.7% | 24.0% | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2021-03-31.
Geographic
$501.40M totalUS$256.98M · 51.3%
GB$143.98M · 28.7%
ZA$51.60M · 10.3%
Other Geographical Areas$48.84M · 9.7%
Stability scores
Altman Z′
FY 2021 · bankruptcy risk
0.93
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2021 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- -No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Services-Prepackaged Software
Comparing Mimecast Ltd against the 5 most active filers in the same SIC group.