RTTNews | Feb 19, 2021 10:06AM EST

10:05 Friday, February 19, 2021 (RTTNews.com) - Shares of critical Event Management company Everbridge, Inc. (EVBG) are rising more than 23% Friday morning following better-than-expected fourth-quarter results. The company also provided first quarter outlook, better than the Street view.

On a separate press release, Everbridge said it has been selected by the Oregon state to power public alerts and warning system for 33 million residents and annual visitors.

States including California, New York, Florida, Connecticut, Vermont, and Massachusetts, as well as Washington, D.C. have already been deployed Everbridge for statewide population alerting.

For the fourth quarter, the company reported net loss of $24.6 million or $0.70 per share compared with $13.1 million or $0.39 per share in the same quarter a year ago. Excluding items, earnings of $0.03 per share beat the average estimate of analysts polled by Thomson Reuters at $0.02 per share.

Revenue in the quarter also increased 32% year-over-year to $75.6 million.

Looking forward to the first quarter, the company expects revenue in the range of $75.3 million- $75.7 million and adjusted loss per share in the range of $0.12- $0.10. Analysts expect the company to report loss of $0.36 per share on revenue of $74.48 million for the quarter.

For the full-year, revenue is expected in the range of $342.1 million - $344.1 million and adjusted loss per share to be in the range of $0.25- $0.19. The consensus estimate for revenue is at $336.82 million and for loss per share is $0.11.

EVBG touched a new high of $173.49 this morning.

Read the original article on RTTNews ( https://www.rttnews.com/3171309/stock-alert-everbridge-trading-23-higher-after-quarterly-results-outlook.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved