Mimecast Limited Income Statement 2020-2011 | MIME

Brief overview of revenue and earnings at Mimecast Limited

The overview follows changes across a five-year period. Revenue at Mimecast Limited moved from 116 million dollars in 2015 to 427 million dollars in 2020. The cumulative result was +267.8%, corresponding to roughly 29.8% per year. The company expanded its revenue base at a high speed.

Gross profit was 79.3 million dollars at the start and 318 million dollars at the end of the period (+300.7%). The gross margin was 68.3% at the start and 74.4% at the end. The business retained more gross profit from each unit of revenue.

EBITDA was 8.8 million dollars at the beginning and 66.5 million dollars at the end of the period (+655.4%). Operating profitability strengthened faster than the scale of sales. Comparing the endpoints gives EBITDA margins of 7.6% and 15.6%. The increased EBITDA share is a positive sign.

Comparing the endpoints shows a move from 285 thousand dollars to −2.2 million dollars. A positive result was not sustained and the period ended with a loss.

Summary assessment

Positive developments coexist with areas of weakness. Key strengths include higher operating efficiency, a stronger gross margin and sales growth. The main areas of concern are a weaker final result. The key question is whether sales can be converted into sustainable profit.