Shares of enterprise software company Everbridge (NASDAQ:EVBG) jumped on Tuesday, rising nearly 15% by 11:40 a.m. EST.
The stock's gain followed Everbridge's third-quarter results. Better-than-expected top- and bottom-line results were likely the reason for investors' optimism for the stock on Tuesday.
Everbridge reported third-quarter revenue of $52.5 million, up 35% year over year. The company's non-GAAP (adjusted) loss per share for the period was $0.04 -- narrower than a non-GAAP loss per share of $0.10 in the year-ago period.
Analysts, on average, were expecting revenue of $51.4 million and a non-GAAP loss per share of $0.05.
In light of these strong results, management lifted its outlook for full-year revenue and non-GAAP earnings per share. Everbridge now expects 2019 revenue to be between $199.9 million and $200.2 million. This is up from a previous forecast for revenue between $198.4 million and $199 million. In addition, Everbridge guided for its non-GAAP loss per share to be between $0.22 and $0.21, an improvement from a previous outlook for a loss per share between $0.25 and $0.22.