Finjan Holdings jumped in pre-market trading on Tuesday after the cybersecurity company said revenue almost quadrupled in 2016. Shares rose more than 13%.
Revenue exceeded $18 million in 2016 compared with 2015. That beat the $12.4 million estimate of one analyst polled by Capital IQ. Also on Tuesday, Finjan said that on Dec. 30, its unit Finjan Inc. closed a confidential patent license agreement with F5 Networks, a secure application provider based in Seattle Washington.
“The F5 license agreement is meaningful as it is the first under our enhanced licensing program initiated to streamline efforts, reduce costs and improve efficiencies,” Finjan CEO Phil Hartstein said.