Revenue during the quarter grew 7.82 percent to $78.40 million from $72.71 million in the previous year period. Gross margin for the quarter expanded 35 basis points over the previous year period to 81.38 percent. Operating margin for the quarter stood at negative 11.82 percent as compared to a negative 7.78 percent for the previous year period.

Operating loss for the quarter was $9.26 million, compared with an operating loss of $5.66 million in the previous year period.

However, the adjusted operating income for the quarter stood at $11.09 million compared to $6.86 million in the prior year period. At the same time, adjusted operating margin improved 472 basis points in the quarter to 14.15 percent from 9.43 percent in the last year period.

"We executed well during the fourth quarter highlighted by our ability to exceed revenue and profitability guidance," stated Anthony Bettencourt, president and chief executive officer of Imperva. "Our results were driven by the demand of our best-of-breed discovery, protection and compliance solutions, as well as ongoing cost controls. Imperva is well positioned to maintain the momentum in 2017 and beyond, given the growing need for enterprises worldwide to protect their business-critical data and applications."

For financial year 2017, Imperva, Inc projects revenue to be in the range of $316 million to $319 million. The company forecasts adjusted net income to be in the range of $11.20 million to $12.20 million. It company projects adjusted operating income to be in the range of $17.80 million to $19.20 million. The company forecasts diluted earnings per share to be in the range of $0.31 to $0.34 on adjusted basis.

For the first-quarter 2017, Imperva, Inc projects revenue to be in the range of $67 million to $69 million. The company forecasts adjusted net loss to be in the range of $0.70 million to $2.10 million. It company projects adjusted operating loss to be in the range of $0.50 million to $1.90 million.On an adjusted basis, the company forecasts diluted loss per share to be in the range of $0.02 to $0.06. 

Operating cash flow declines
Imperva, Inc has generated cash of $22.49 million from operating activities during the year, down 5.75 percent or $1.37 million, when compared with the last year.

The company has spent $78.45 million cash to meet investing activities during the year as against cash outgo of $63.78 million in the last year.

The company has spent $4.83 million cash to carry out financing activities during the year as against cash inflow of $140.08 million in the last year period.

Cash and cash equivalents stood at $107.34 million as on Dec. 31, 2016, down 36.20 percent or $60.91 million from $168.25 million on Dec. 31, 2015.

Working capital declines
Imperva has witnessed a decline in the working capital over the last year. It stood at $194.15 million as at Dec. 31, 2016, down 9.35 percent or $20.02 million from $214.17 million on Dec. 31, 2015. Current ratio was at 2.41 as on Dec. 31, 2016, down from 2.78 on Dec. 31, 2015.

Cash conversion cycle (CCC) has increased to 21 days for the quarter from 18 days for the last year period. Days sales outstanding went down to 37 days for the quarter compared with 39 days for the same period last year.

Days inventory outstanding was almost stable at 2 days for the quarter, when compared with the last year period. At the same time, days payable outstanding went down to 17 days for the quarter from 23 for the same period last year.