secwatch.observer — SEC 8-K summary
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Issuer:     EVERBRIDGE, INC. (—)
CIK:        0001437352
Form:       8-K
Filed at:   2022-11-08T23:59:59+00:00
Accession:  0000950170-22-022892
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Everbridge Q3 revenue $111.4M (+15% YoY); plans 200-job cut, guides 6-7% growth in 2023
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- Q3 revenue $111.4M (+15% YoY); GAAP net loss $(22.1)M (-$0.56/sh) vs $(28.7)M; Non-GAAP net income $12.3M ($0.27/sh).
- Adjusted EBITDA $15.2M, up from $4.9M a year ago; cash flow from ops $18.0M vs $(2.7)M.
- Board expanded 2022 Strategic Realignment; expects $30-33M cash spend, $14-15M restructuring charges, $17-19M transformation costs.
- Plans to reduce workforce by ~200 employees; targets 2023 adj. EBITDA $85M, baseline revenue growth 6-7%.
- Recorded highest number of contracts over $100K in Q3; total enterprise customers grew to 6,417.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437352/000095017022022892/0000950170-22-022892-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437352/000095017022022892/evbg-20221108.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-022892

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