Financial Outlook
Our financial outlook below reflects the impact of Vulcan Cyber.
For the first quarter of 2025, we currently expect:
- Revenue in the range of $233.0 million to $235.0 million.
- Non-GAAP income from operations in the range of $40.0 million to $42.0 million.
- Non-GAAP net income in the range of $32.0 million to $34.0 million, assuming interest income of $3.8 million, interest expense of $7.0 million and a provision for income taxes of $3.6 million.
- Non-GAAP diluted earnings per share in the range of $0.26 to $0.27.
- 124.0 million diluted weighted average shares outstanding.
For the year ending December 31, 2025, we currently expect:
- Calculated current billings in the range of $1.045 billion to $1.060 billion.
- Revenue in the range of $975.0 million to $985.0 million.
- Non-GAAP income from operations in the range of $205.0 million to $215.0 million.
- Non-GAAP net income in the range of $175.0 million to $185.0 million, assuming interest income of $15.3 million, interest expense of $28.3 million and a provision for income taxes of $13.4 million.
- Non-GAAP diluted earnings per share in the range of $1.41 to $1.49.
- 124.5 million diluted weighted average shares outstanding.
- Unlevered free cash flow in the range of $265.0 million to $275.0 million.