Finjan Provides Shareholder Update for the Second Quarter of 2016 Company to Host Conference Call on August 11, 2016 at 1:30 PM PDT
EAST PALO ALTO, CA--(Marketwired - Aug 9, 2016) - Finjan Holdings, Inc. (NASDAQ: FNJN), a cybersecurity company, is providing shareholders with a financial update and a highlight of key accomplishments for the second quarter of 2016 ended June 30, 2016. Financial Highlights for the Second Quarter: -- Nearly 10-fold increase in revenue over 2Q 2015 to $6.5 million -- Net Income of $900,000 or $0.04 a share (excluding the Series A accretion of $5.5 million) -- $17.2 million in cash -- Raised $10 million in a Series A Preferred Share Offering
"We successfully navigated through a very active quarter in our licensing and enforcement program. We secured -- for a third time from the Court -- an Order upholding the $39.5 million judgment (plus pre and post judgment interest) against Blue Coat Systems. We granted a license and settled our litigation with Proofpoint for $10.9 million, and signed a license -- outside of litigation -- with a European cloud-based networking company. We filed a series of new cases against ESET and its affiliates in the U.S. and Germany. Most recently, we filed for a preliminary injunction seeking to bar Blue Coat from selling its infringing WebPulse products in the United States," said Phil Hartstein, President and CEO of Finjan Holdings.
"Additionally, Finjan's patents have been recognized as durable by the District Court in Blue Coat, the U.S. Patent and Trademark Office ("USPTO") and the USPTO's Patent Trial and Appeal Board ("PTAB"). To date, 88% of challenges before the USPTO and PTAB have been denied or rescinded and only 12% have been instituted against only four of our patents." "This quarter reflects an intersection in the Company's efforts where the investment of time and effort to license and enforce our patents are beginning to produce recurring results. Looking ahead we continue to make strides towards diversifying our revenue through the launch of our emerging businesses as we build upon the Finjan brand, protect our IP built through our 20 year history in cybersecurity and ultimately deliver the greatest value to our licensees and our shareholders," concluded Hartstein.
