VIENNA, Va.--(BUSINESS WIRE)--Everbridge, Inc., the global leader in High Velocity Critical Event Management (CEM) and national public warning solutions, today announced an expanded collaboration with Johnson Controls to launch a new portfolio of managed CEM services. The offerings – Managed CEM Pro and Managed CEM Enterprise – combine the power of High Velocity CEM with Johnson Controls' global security expertise to help organizations simplify resilience, accelerate response and reduce operati. ...

Financial Performance - Revenue for the three months ended March 31, 2024, was $111.4 million, a 3% increase from $108.3 million in the same period of 2023[170]. - Net losses for the three months ended March 31, 2024, were $20.1 million, compared to $14.6 million for the same period in 2023[170]. - Adjusted EBITDA for Q1 2024 was $13.68 million, down from $15.85 million in Q1 2023, reflecting a decrease of approximately 13.7%[206]. - Non-GAAP net income for Q1 2024 was $7.97 million, compared to $10.83 million in Q1 2023, representing a decrease of approximately 26.3%[210]. - Free cash flow for Q1 2024 was $(2.06) million, compared to $15.89 million in Q1 2023, indicating a significant decline[207]. - Cash and cash equivalents totaled $121.4 million as of March 31, 2024, down from $201.6 million at the beginning of the period[211]. - Net cash provided by operating activities for Q1 2024 was $2.14 million, a decrease from $20.58 million in Q1 2023[215]. - Operating activities generated $2.1 million in cash for the three months ended March 31, 2024, compared to $20.6 million for the same period in 2023, reflecting a decrease in cash generation[219][220]. - The net loss for the three months ended March 31, 2024, was $20.1 million, an increase from a net loss of $14.6 million in the same period of 2023[219][220]. Customer Growth and Revenue Sources - The customer base grew from 867 customers in 2011 to over 6,700 customers as of March 31, 2024[168]. - 18% of customers were located outside of North America, generating 23% of total revenue for Q1 2024[170]. - The average contract duration for subscriptions is 1.7 years, with 95% of revenue recognized from prior contracts or renewals[169]. Expenses and Cost Management - Total operating expenses for Q1 2024 were $93,851,000, representing 84% of revenue, a slight decrease from 85% in Q1 2023[194]. - Sales and marketing expenses decreased by $5,070,000 to $37,118,000, accounting for 33% of revenue, down from 39% in the prior year[200]. - Research and development expenses decreased by $2,156,000 to $22,848,000, representing 21% of revenue, compared to 23% in Q1 2023[201]. - General and administrative expenses increased by $7,075,000 to $31,541,000, which is 28% of revenue, up from 23% in the same quarter last year[202]. - Restructuring expenses rose significantly to $2,344,000, accounting for 2% of revenue, compared to virtually none in Q1 2023[203]. Future Outlook and Strategic Initiatives - A proposed merger with Thoma Bravo is set to close in the second calendar quarter of 2024, with each share of common stock valued at $35.00[172][173]. - The company plans to invest in research and development, data center infrastructure, and hiring additional sales representatives to drive growth[171]. - Rising interest rates and economic uncertainty may impact future financing and operations[177]. - The company expects to continue incurring losses in the near term while pursuing growth objectives[171]. Cash Flow and Financing Activities - The company has $363.7 million in principal amount of indebtedness under convertible senior notes due March 15, 2026[214]. - Cash payments for the 2022 Strategic Realignment in Q1 2024 amounted to $3.92 million[207]. - Investing activities used $2.2 million in cash in Q1 2024, primarily due to a $4.0 million investment in software development, offset by $2.0 million from landlord reimbursement[222]. - Financing activities used $0.3 million of cash in Q1 2024, reflecting $2.2 million payment for employee withholding taxes, partially offset by $1.9 million from stock issuance[226]. Accounting and Financial Reporting - Other income decreased by $1,437,000 to $149,000, primarily due to a decline in interest income and foreign currency transaction gains[204]. - Provision for income taxes increased to $5,351,000 for Q1 2024, compared to $842,000 in Q1 2023, reflecting higher estimated cash taxes[205]. - Non-cash operating expenses for Q1 2024 amounted to $31.6 million, including $14.4 million for depreciation and amortization[219]. - The company recognized a $9.4 million decrease in changes in operating assets and liabilities in Q1 2024, driven by an $18.3 million decrease in accrued expenses[219]. - There have been no changes to critical accounting estimates that have materially impacted the financial statements as of March 31, 2024[229]. - The gross margin for Q1 2024 was 70.9%, slightly up from 70.5% in Q1 2023[210]. - Non-GAAP gross profit for Q1 2024 was $81.86 million, compared to $80.67 million in Q1 2023, showing a slight increase of approximately 1.5%[210].

Exhibit 99.1 Everbridge Announces First Quarter 2024 Financial Results BURLINGTON, Mass – May 9, 2024 – Everbridge, Inc. (Nasdaq: EVBG), the global leader in critical event management (CEM) and national public warning solutions, today announced its financial results for the first quarter ended March 31, 2024. Revenue for the first quarter was up 3% year-over-year to $111.4 million, and GAAP net loss was $(20.1) million, compared to $(14.6) million for the first quarter of 2023. First Quarter 2024 Financial ...

BURLINGTON, Mass.--(BUSINESS WIRE)--Everbridge, Inc. (Nasdaq: EVBG) (“Everbridge”), a global leader in critical event management and national public warning solutions, and Thoma Bravo, a leading software investment firm, today announced that they have amended and restated the previously announced merger agreement, dated February 4, 2024. Under the terms of the amended and restated agreement, Thoma Bravo has increased the price at which it has agreed to acquire all outstanding shares of Everbridge to $35.00 ...

BURLINGTON, Mass.--(BUSINESS WIRE)--Everbridge, Inc. (Nasdaq: EVBG), the global leader in critical event management (CEM) and national public warning solutions, today announced its financial results for the fourth quarter and full year ended December 31, 2023. Revenue for the fourth quarter was down 1% year-over-year to $115.8 million, and GAAP net loss was $(19.3) million, compared to net income of $16.2 million for the fourth quarter of 2022. Revenue for the full year was up 4% year-over-year to $448.8 mi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-37874 Everbridge, Inc. (Exact name of registrant as specified in its charter) | Delaware | 26-2919312 | | --- | --- | | (State or ot ...

[Everbridge Q4 and Full Year 2023 Financial Results](index=1&type=section&id=Everbridge%20Announces%20Fourth%20Quarter%20and%20Full%20Year%202023%20Financial%20Results) [Fourth Quarter 2023 Financial Highlights](index=1&type=section&id=Fourth%20Quarter%202023%20Financial%20Highlights) Q4 2023 saw a 1% revenue decrease to $115.8 million, but non-GAAP net income rose to $20.2 million, Adjusted EBITDA increased to $27.0 million, and operating cash flow reached $29.6 million Q4 2023 Key Financial Metrics (vs. Q4 2022) | Metric | Q4 2023 (in millions) | Q4 2022 (in millions) | Change | | :--- | :--- | :--- | :--- | | Total Revenue | $115.8M | $117.1M | -1% | | GAAP Operating Loss | $(17.8)M | $(9.7)M | Increased Loss | | GAAP Net (Loss)/Income | $(19.3)M | $16.2M | Loss vs. Income | | GAAP Diluted EPS | $(0.47) | $(0.15) | Increased Loss | | Non-GAAP Net Income | $20.2M | $18.7M | +8.0% | | Non-GAAP Diluted EPS | $0.47 | $0.41 | +14.6% | | Adjusted EBITDA | $27.0M | $20.6M | +31.1% | | Cash Flow from Operations | $29.6M | $4.4M | +572.7% | - Key deal metrics for the quarter included adding **55 CEM customers**, securing **48 deals over $100,000**, **3 deals over $500,000**, and **1 deal over $1 million**[4](index=4&type=chunk) - Annualized Recurring Revenue (ARR) was **$408 million**[4](index=4&type=chunk) [Full Year 2023 Financial Highlights](index=1&type=section&id=Full%20Year%202023%20Financial%20Highlights) For the full year 2023, Everbridge achieved 4% revenue growth to $448.8 million, significantly improving GAAP net loss to $(47.3) million and more than doubling non-GAAP net income to $64.7 million, with Adjusted EBITDA reaching $84.9 million Full Year 2023 Key Financial Metrics (vs. FY 2022) | Metric | FY 2023 (in millions) | FY 2022 (in millions) | Change | | :--- | :--- | :--- | :--- | | Total Revenue | $448.8M | $431.9M | +4% | | GAAP Operating Loss | $(61.4)M | $(84.2)M | Reduced Loss | | GAAP Net Loss | $(47.3)M | $(61.2)M | Reduced Loss | | GAAP Diluted EPS | $(1.31) | $(1.76) | Reduced Loss | | Non-GAAP Net Income | $64.7M | $31.9M | +102.8% | | Non-GAAP Diluted EPS | $1.48 | $0.70 | +111.4% | | Adjusted EBITDA | $84.9M | $43.1M | +97.0% | | Cash Flow from Operations | $72.6M | $20.2M | +259.9% | [Company Overview and Key Metrics](index=2&type=section&id=About%20Everbridge) Everbridge specializes in Critical Event Management (CEM) and national public warning solutions, with Annualized Recurring Revenue (ARR) as a key performance metric - Everbridge's core business is empowering enterprises and governments to anticipate, mitigate, respond to, and recover from critical events using its **CEM technology**[5](index=5&type=chunk) - Annualized Recurring Revenue (ARR) is a key metric defined as the expected recurring revenue in the next twelve months from active customer contracts[6](index=6&type=chunk) [Non-GAAP Financial Measures](index=2&type=section&id=Non-GAAP%20Financial%20Measures) The company uses non-GAAP financial measures like non-GAAP operating income, net income, and Adjusted EBITDA to present core operating performance, excluding specific non-recurring or non-cash items - The report includes several non-GAAP financial measures, including **non-GAAP gross profit**, **non-GAAP operating income**, **non-GAAP net income**, **Adjusted EBITDA**, and **free cash flow**[7](index=7&type=chunk) - Key adjustments to derive non-GAAP figures include excluding **amortization of acquired intangible assets**, **stock-based compensation**, costs from the **2022 Strategic Realignment**, and an **Anvil legal dispute accrual**[8](index=8&type=chunk) - The company states that these non-GAAP measures are used by management for financial and operational decision-making and to evaluate core performance and trends[9](index=9&type=chunk) [Forward-Looking Statements](index=2&type=section&id=Cautionary%20Language%20Concerning%20Forward-Looking%20Statements) This press release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially, as detailed in SEC filings - The document contains forward-looking statements subject to a 'safe harbor' provision, which are based on current expectations and are not guarantees of future performance[11](index=11&type=chunk) - Key risks that could affect results include the ability to attract and retain customers, market developments, competition, and potential liability related to data privacy and security[11](index=11&type=chunk)[12](index=12&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) As of December 31, 2023, total assets decreased to $1.026 billion, while total liabilities reduced to $723.6 million, and total stockholders' equity increased to $302.3 million Key Balance Sheet Items (in thousands) | Account | Dec 31, 2023 (in thousands) | Dec 31, 2022 (in thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $122,440 | $198,725 | | Total Assets | $1,025,885 | $1,125,664 | | Convertible senior notes (current & non-current) | $359,671 | $500,298 | | Total Liabilities | $723,576 | $836,553 | | Total Stockholders' Equity | $302,309 | $289,111 | [Consolidated Statements of Operations and Comprehensive Income (Loss)](index=6&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20(Loss)) For FY 2023, revenue grew 4% to $448.8 million, gross profit reached $317.3 million, and both operating loss and net loss significantly narrowed to $(61.4) million and $(47.3) million respectively Full Year Income Statement Summary (in thousands) | Metric | Twelve Months Ended Dec 31, 2023 (in thousands) | Twelve Months Ended Dec 31, 2022 (in thousands) | | :--- | :--- | :--- | | Revenue | $448,788 | $431,892 | | Gross Profit | $317,301 | $296,958 | | Operating Loss | $(61,399) | $(84,183) | | Net Loss | $(47,305) | $(61,174) | | Diluted Net Loss per Share | $(1.31) | $(1.76) | - Total stock-based compensation expense for the full year 2023 was **$48.9 million**, a slight increase from **$47.6 million** in 2022[15](index=15&type=chunk) [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For FY 2023, cash from operations significantly increased to $72.6 million, while financing activities used $131.9 million, resulting in a net cash decrease of $76.2 million Full Year Cash Flow Summary (in thousands) | Cash Flow Activity | Twelve Months Ended Dec 31, 2023 (in thousands) | Twelve Months Ended Dec 31, 2022 (in thousands) | | :--- | :--- | :--- | | Net cash provided by operating activities | $72,575 | $20,167 | | Net cash used in investing activities | $(17,301) | $(18,893) | | Net cash used in financing activities | $(131,898) | $(290,520) | | Net (decrease) in cash | $(76,223) | $(291,164) | [Reconciliation of GAAP to Non-GAAP Measures](index=8&type=section&id=Reconciliation%20of%20GAAP%20measures%20to%20non-GAAP%20measures) [Reconciliation of Gross Profit and Operating Income](index=8&type=section&id=Reconciliation%20of%20Gross%20Profit%20and%20Operating%20Income) For FY 2023, non-GAAP gross profit was $332.7 million and non-GAAP operating income was $62.1 million, a significant improvement from GAAP operating loss after various adjustments FY 2023 Reconciliation of Operating Loss to Non-GAAP Operating Income (in thousands) | Description | FY 2023 (in thousands) | FY 2022 (in thousands) | | :--- | :--- | :--- | | **Operating loss (GAAP)** | **$(61,399)** | **$(84,183)** | | Amortization of acquired intangibles | $36,840 | $42,982 | | Stock-based compensation | $48,889 | $47,620 | | 2022 Strategic Realignment | $13,751 | $17,357 | | Anvil legal dispute accrual | $24,000 | $1,000 | | **Non-GAAP operating income** | **$62,081** | **$24,719** | [Reconciliation of Net Income (Loss) and EPS](index=8&type=section&id=Reconciliation%20of%20Net%20Income%20(Loss)%20and%20EPS) For FY 2023, GAAP net loss of $(47.3) million was reconciled to a non-GAAP net income of $64.7 million, resulting in a non-GAAP diluted EPS of $1.48 FY 2023 Reconciliation of Net Loss to Non-GAAP Net Income (in thousands) | Description | FY 2023 (in thousands) | FY 2022 (in thousands) | | :--- | :--- | :--- | | **Net loss (GAAP)** | **$(47,305)** | **$(61,174)** | | Adjustments (Amortization, SBC, etc.) | $112,017 | $83,070 | | **Non-GAAP net income** | **$64,712** | **$31,896** | FY 2023 GAAP vs. Non-GAAP Diluted EPS | Metric | FY 2023 | FY 2022 | | :--- | :--- | :--- | | Net loss per diluted share (GAAP) | $(1.31) | $(1.76) | | Non-GAAP net income per diluted share | $1.48 | $0.70 | [Reconciliation to EBITDA, Adjusted EBITDA, and Free Cash Flow](index=10&type=section&id=Reconciliation%20to%20EBITDA,%20Adjusted%20EBITDA,%20and%20Free%20Cash%20Flow) For FY 2023, Adjusted EBITDA nearly doubled to $84.9 million, with an 18.9% margin, and Adjusted free cash flow significantly increased to $63.8 million FY 2023 Reconciliation to Adjusted EBITDA and Adjusted Free Cash Flow (in thousands) | Metric | FY 2023 (in thousands) | FY 2022 (in thousands) | | :--- | :--- | :--- | | Net loss | $(47,305) | $(61,174) | | **EBITDA** | **$10,894** | **$(3,563)** | | Adjustments (SBC, Realignment, etc.) | $73,964 | $46,678 | | **Adjusted EBITDA** | **$84,858** | **$43,115** | | Net cash from operating activities | $72,575 | $20,167 | | **Free cash flow** | **$50,818** | **$1,640** | | Cash payments for 2022 Strategic Realignment | $12,940 | $12,266 | | **Adjusted free cash flow** | **$63,758** | **$13,906** | [Supplementary Information](index=11&type=section&id=Supplementary%20Information) [Remaining Performance Obligations](index=11&type=section&id=Remaining%20Performance%20Obligations%20as%20of%20December%2031,%202023) As of December 31, 2023, total Remaining Performance Obligations (RPO) were $504 million, with $314 million expected to be recognized as revenue within the next twelve months Remaining Performance Obligations as of Dec 31, 2023 (in millions) | Contract Type | Total RPO (in millions) | RPO in Next Twelve Months (in millions) | | :--- | :--- | :--- | | Subscription and other | $494 | $305 | | Professional services | $10 | $9 | | **Total** | **$504** | **$314** | [Company Contacts](index=12&type=section&id=Everbridge%20Contacts) This section provides contact information for investor and media inquiries - **Investors:** Nandan Amladi, nandan.amladi@everbridge.com, 617-665-7197[25](index=25&type=chunk) - **Media:** Jeff Young, jeff.young@everbridge.com, 781-859-4116[25](index=25&type=chunk)

Shares of Everbridge (EVBG 18.41%) soared by 18.4% on Monday after the critical event management (CEM) software company agreed to be acquired by private equity firm Thoma Bravo.Everbridge is going private in a $1.5 billion dealIn a press release Monday morning, Everbridge announced it has entered into a definitive agreement to be acquired by Thoma Bravo for $28.60 per share in cash. That's a 32% premium over its 90-day volume-weighted average share price, and values Everbridge at roughly $1.5 billion.Everbr ...

A $1.5 billion take-private deal with acquisitive private-equity firm Thoma Bravo is fueling an 18% rally in software company Everbridge Inc.’s stock on Monday.For Thoma Bravo, Everbridge marks the first take-private transaction of 2024, after the Miami-based specialist in scooping up undervalued software companies completed five buyouts of public companies in 2023.With its 18% gain on Monday, Everbridge’s stock EVBG, +18.56% is notching its largest percentage price increase in more than a year, after the s ...

Everbridge, a critical event management (CEM) software company, is going private in a $1.5 billion all-cash deal that will see it taken over by private equity giant Thoma Bravo.Founded in 2002 initially as 3N Global, Everbridge helps governments and enterprises from across the industrial spectrum respond to emergency situations — this includes risk intelligence to help asses the threat landscape around where employees live or travel to, as well as mass-notification tools to effectively communicate critical ...