FY16 like-for-like billings grew 19.7 percent year-over-year ("YOY")
Strong billings growth across all regions and products, driven by growth in both new and existing customers
o New customer billings6 grew 33.0 percent YOY driven by Unified Threat Management ("UTM") and Sophos Central platform
o Retention rate, including up-sell, improved YOY to 101.9 percent from 100.2 percent
o Cross-sell improved YOY to 7.4 percent from 5.6 percent of customers who have both Endpoint and UTM products
Revenue grew 15.6 percent YOY on a constant currency basis, 7.1 percent at reported rate
o Investments in the year drove significant subscription billings growth, the full benefit of which will be recognised as revenue over the terms of the contracts
o Billings growth resulted in a $65.4 million increase to the year-end deferred revenue balance to $498.7 million; of which $286.5 million which will be recognised in FY17, up 14.0 percent YOY, highlighting the visibility and sustainability of the Sophos subscription based business model
Reported cash EBITDA margin improved YOY to 22.6 percent from 21.3 percent, a 31.6 percent increase YOY on a constant currency basis
Exceptional items of $41.9 million, particularly costs associated with the initial public offering of the Company's shares in July 2015, reflected in an operating loss of $32.7 million
Net cash flow from operating activities of $21.3 million and unlevered free cash flow of $46.4 million both in line with the Board's expectations; decreased YOY predominantly due to $41.9 million of exceptional costs and anticipated one-time movements in working capital
Final dividend of 1.1 US Cents per share; a total dividend for the year of 1.8 US Cents per share
