MobileIron (MOBL) saw its loss narrow to $10.21 million, or $0.12 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $14.41 million, or $0.18 a share. On the other hand, adjusted net loss for the quarter narrowed to $2.33 million, or $0.03 a share from a loss of $5.80 million or $0.07 a share, a year ago.

Revenue during the quarter grew 5.64 percent to $45.47 million from $43.05 million in the previous year period. Gross margin for the quarter expanded 135 basis points over the previous year period to 83.83 percent. Operating margin for the quarter stood at negative 21.68 percent as compared to a negative 32.25 percent for the previous year period.

Operating loss for the quarter was $9.86 million, compared with an operating loss of $13.88 million in the previous year period.

However, the adjusted operating loss for the quarter stood at $1.98 million compared to operating loss of $5.27 million in prior year period.

"I am very proud of our performance in the fourth quarter and for the full year. We had our strongest quarter ever and surpassed our goal of cash flow breakeven,' said Barry Mainz, president and chief executive officer, MobileIron. "Customers buy our products because we solve both technical and regulatory challenges. For example, MobileIron Access is the only product that solves the security challenges that happen when mobile apps connect to cloud services, and that’s why we recognized our first billings from it in Q4. A regulatory example is the recently implemented ‘Right to Disconnect’ law in France. With MobileIron, our French customers can use our policy engine to time-fence access to corporate resources. We have the right products and the right roadmap and I believe that our innovation and business strategy will continue to accelerate our business in 2017."

For financial year 2017, MobileIron expects revenue to be in the range of $175 million to $190 million.

For the first-quarter 2017, MobileIron expects revenue to be in the range of $41 million to $43 million.

Operating cash flow remains negative
MobileIron has spent $11.73 million cash to meet operating activities during the year as against cash outgo of $48.54 million in the last year.

Cash flow from investing activities was $12.57 million from investing activities during the year as against cash outgo of $19.68 million in the last year.

Cash flow from financing activities was $5.97 million for the year, down 46.50 percent or $5.19 million, when compared with the last year.

Cash and cash equivalents stood at $54.04 million as on Dec. 31, 2016, up 14.42 percent or $6.81 million from $47.23 million on Dec. 31, 2015.

Working capital drops significantly
MobileIron has witnessed a decline in the working capital over the last year. It stood at $49.58 million as at Dec. 31, 2016, down 25.51 percent or $16.98 million from $66.57 million on Dec. 31, 2015. Current ratio was at 1.55 as on Dec. 31, 2016, down from 1.86 on Dec. 31, 2015.

Days sales outstanding went down to 44 days for the quarter compared with 46 days for the same period last year.

At the same time, days payable outstanding went down to 4 days for the quarter from 16 for the same period last year.