Helix performance in 2Q17
Earlier in this series, we discussed the factors that drove growth in FireEye’s (FEYE) billings. In 1Q17, FireEye rolled out Helix, the company’s latest offering in the security space. Helix is FireEye’s fully cloud-based offering with subscription pricing. It is an intelligence-driven security platform that simplifies, integrates, and mechanizes security operations regardless of the organization’s size or industry.
FireEye’s Helix security platform signed on ten new customers in 2Q17. In 2Q17, Helix brought in $2 of sales for other FireEye offerings for every $1 in billings revenues that Helix attracted.
FireEye’s expectations from Helix
Earlier in this series, we noted that FireEye’s swift transition to subscription-based offerings had enabled its revenues to grow. As its Helix security platform gains traction, FireEye’s subscription billings could report growth. This growth could benefit the company’s margins in the long term.
FireEye’s position in the cybersecurity space is in a tight spot, as it is rapidly losing out on the competitive front to other network security peers. As a result, FireEye has high expectations from Helix. The company believes that Helix security platform holds the potential of upgrading the company’s position from being a sandbox technology pioneer to a next-generation cybersecurity firm.
Network malware sandboxing is the preferred advanced detecting technique deployed by enterprises. FireEye’s virtual sandbox examines potentially malicious software in real time, enabling it to find vulnerabilities and exploits as these attacks occur.