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    Citrix Reports Fourth Quarter and Fiscal Year 2021 Financial Results

    1/31/22 8:00:00 AM ET
    $CTXS
    Computer Software: Prepackaged Software
    Technology
    Get the next $CTXS alert in real time by email

    Citrix Systems, Inc. (NASDAQ:CTXS) today reported financial results for the fourth quarter and fiscal year ended December 31, 2021.

    Financial Results

    For the fourth quarter of fiscal year 2021, Citrix achieved revenue of $851 million, compared to $810 million in the fourth quarter of fiscal year 2020, representing 5 percent revenue growth. For fiscal year 2021, Citrix reported annual revenue of $3.22 billion, compared to $3.24 billion for fiscal year 2020, a 1 percent decrease.

    GAAP Results

    Net income for the fourth quarter of fiscal year 2021 was $103 million, or $0.81 per diluted share, compared to $112 million, or $0.89 per diluted share, for the fourth quarter of fiscal year 2020. Net income for the fourth quarter of fiscal year 2021 includes restructuring charges of $103 million for severance and facility closing costs and a $120 million income tax benefit related to the finalization of transitional tax relief in accordance with the enactment of federal tax reform in Switzerland.

    Annual net income for fiscal year 2021 was $307 million, or $2.44 per diluted share, compared to $504 million, or $4.00 per diluted share for fiscal year 2020. Net income for fiscal years 2021 and 2020 includes restructuring charges of $103 million and $12 million, respectively, for severance and facility closing costs. Net income for fiscal 2021 also includes an income tax benefit of $120M for transitional tax relief in Switzerland.

    Non-GAAP Results (1)

    Non-GAAP net income for the fourth quarter of fiscal year 2021 was $186 million, or $1.47 per diluted share, compared to $183 million, or $1.46 per diluted share for the fourth quarter of fiscal year 2020. Non-GAAP net income for the fourth quarter of fiscal years 2021 and 2020 excludes the effects of stock-based compensation expense, amortization and impairment of acquired intangible assets, restructuring charges and the tax effects related to these items. Non-GAAP net income for the fourth quarter of fiscal year 2021 also excludes the impacts from transitional tax relief in Switzerland.

    Annual non-GAAP net income for fiscal year 2021 was $673 million, or $5.33 per diluted share, compared to $769 million, or $6.10 per diluted share for fiscal year 2020. Annual non-GAAP net income for fiscal years 2021 and 2020 excludes the effects of stock-based compensation expense, amortization and impairment of acquired intangible assets, restructuring charges, and the tax effects related to these items. Annual non-GAAP net income for fiscal year 2021 also excludes acquisition-related costs and the impacts from transitional tax relief in Switzerland.

    (1) A reconciliation of GAAP to non-GAAP measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading "Reconciliation of Non-GAAP Financial Measures to Comparable U.S. GAAP Measures."

    Cancellation of Earnings Conference Call and Suspension of Guidance

    Citrix also announced today that is has entered into a definitive agreement to be acquired by an affiliate of Elliott Investment Management L.P. and Vista Equity Partners. A copy of the press release can be found by visiting the Investor Relations section of the Citrix corporate website at http://www.citrix.com/investors. In light of the announced transaction with Elliott and Vista, Citrix will not host an earnings conference call. In addition, Citrix will not provide guidance for the first quarter 2022 or the full year 2022 as a result of the pending transaction.

    About Citrix

    Citrix (NASDAQ:CTXS) builds the secure, unified digital workspace technology that helps organizations unlock human potential and deliver a consistent workspace experience wherever work needs to get done. With Citrix, users get a seamless work experience and IT has a unified platform to secure, manage, and monitor diverse technologies in complex cloud environments. Learn more at www.citrix.com.

    For Citrix Investors

    This release contains forward-looking statements made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and of Section 21E of the Securities Exchange Act of 1934. The forward-looking statements in this release do not constitute guarantees of future performance. Investors are cautioned that statements in this press release, which are not strictly historical statements, may constitute forward-looking statements. Such forward-looking statements, including statements about Citrix entering into a definitive agreement to be acquired, are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements, including, without limitation, risks associated with the closing of the announced acquisition, the success and growth of the company's product lines, competition, demand and pricing dynamics, and our ability to transition to new business models, including a subscription model; the impact of the global economic and political environment on our business, volatility in global stock markets, foreign exchange rate volatility and uncertainty in IT spending; the risks associated with maintaining the security of our products, services, and networks, including securing customer data; changes in Citrix's pricing and licensing models, promotional programs and product mix, all of which may impact Citrix's revenue recognition; our ability to expand our customer base and attract more users within our customer base; the introduction of new products by competitors or the entry of new competitors into the markets for Citrix's products and services; the concentration of customers in Citrix's networking business; the company's ability to innovate and develop new products and services while growing its established virtualization and networking products and services; changes in our revenue mix towards products and services with lower gross margins; seasonal fluctuations in the company's business; failure to execute Citrix's sales and marketing plans; failure to successfully partner with key distributors, resellers, system integrators, service providers and strategic partners and the company's reliance on the success of those partners for the marketing and distribution of the company's products; transitions in key personnel and succession risk; the company's ability to maintain and expand its business in large enterprise accounts and reliance on large service provider customers; the size, timing and recognition of revenue from significant orders; the success of investments in its product groups, foreign operations and vertical and geographic markets; the ability of Citrix to make suitable acquisitions on favorable terms in the future; risks associated with Citrix's acquisitions and divestitures, including failure to further develop and successfully market the technology and products of acquired companies, failure to achieve or maintain anticipated revenues and operating performance contributions from acquisitions, which could dilute earnings, the retention of key employees from acquired companies, difficulties and delays integrating personnel, operations, technologies and products, and disruption to our ongoing business and diversion of management's attention from our ongoing business; the recruitment and retention of qualified employees; risks in effectively controlling operating expenses; ability to effectively manage our capital structure and the impact of related changes on our operating results and financial condition; the effect of new accounting pronouncements on revenue and expense recognition; failure to comply with federal, state and international regulations; litigation and disputes, including challenges to our intellectual property rights or allegations of infringement of the intellectual property rights of others; the ability to maintain and protect our collection of brands; charges in the event of a write-off or impairment of acquired assets, underperforming businesses, investments or licenses; international market readiness, execution and other risks associated with the markets for Citrix's products and services; risks related to servicing our debt; unanticipated changes in tax rates, non-renewal of tax credits or exposure to additional tax liabilities; risks of political uncertainty and social turmoil; and other risks detailed in Citrix's filings with the Securities and Exchange Commission. Citrix assumes no obligation to update any forward-looking information contained in this press release or with respect to the announcements described herein.

    Citrix® is a trademark or registered trademark of Citrix Systems, Inc. and/or one or more of its subsidiaries, and may be registered in the U.S. Patent and Trademark Office and in other countries. All other trademarks and registered trademarks are property of their respective owners.

     

    CITRIX SYSTEMS, INC.

    Condensed Consolidated Statements of Income

    (In thousands, except per share data - unaudited)

     

    Three Months Ended

    December 31,

     

    Year Ended

    December 31,

     

    2021

     

     

    2020

     

    2021

     

     

    2020

    Revenues:

     

     

     

     

     

     

     

    Subscription

    $

    454,221

     

     

     

    $

    340,508

     

     

    $

    1,553,775

     

     

     

    $

    1,114,798

     

    Product and license

    42,903

     

     

     

    54,428

     

     

    171,186

     

     

     

    444,437

     

    Support and services

    353,724

     

     

     

    414,720

     

     

    1,492,209

     

     

     

    1,677,465

     

    Total net revenues

    850,848

     

     

     

    809,656

     

     

    3,217,170

     

     

     

    3,236,700

     

    Cost of net revenues:

     

     

     

     

     

     

     

    Cost of subscription, support and services

    114,916

     

     

     

    106,940

     

     

    453,755

     

     

     

    389,612

     

    Cost of product and license revenues

    18,692

     

     

     

    18,598

     

     

    79,927

     

     

     

    76,152

     

    Amortization and impairment of product related intangible assets

    39,875

     

     

     

    7,905

     

     

    91,395

     

     

     

    32,782

     

    Total cost of net revenues

    173,483

     

     

     

    133,443

     

     

    625,077

     

     

     

    498,546

     

    Gross margin

    677,365

     

     

     

    676,213

     

     

    2,592,093

     

     

     

    2,738,154

     

    Operating expenses:

     

     

     

     

     

     

     

    Research and development

    145,452

     

     

     

    132,517

     

     

    581,600

     

     

     

    538,080

     

    Sales, marketing and services

    304,213

     

     

     

    308,098

     

     

    1,194,657

     

     

     

    1,224,377

     

    General and administrative

    129,584

     

     

     

    99,611

     

     

    409,630

     

     

     

    352,109

     

    Amortization of other intangible assets

    19,648

     

     

     

    702

     

     

    66,263

     

     

     

    2,799

     

    Restructuring

    103,323

     

     

     

    -

     

     

    103,323

     

     

     

    11,981

     

    Total operating expenses

    702,220

     

     

     

    540,928

     

     

    2,355,473

     

     

     

    2,129,346

     

    (Loss) income from operations

    (24,855

    )

     

     

    135,285

     

     

    236,620

     

     

     

    608,808

     

    Interest income

    320

     

     

     

    423

     

     

    1,232

     

     

     

    3,108

     

    Interest expense

    (21,719

     

    )

     

    (16,361

    )

     

    (91,793

     

    )

     

    (64,687

    )

    Other income (expense), net

    3,607

     

     

     

    (199

    )

     

    21,088

     

     

     

    7,651

     

    (Loss) income before income taxes

    (42,647

    )

     

     

    119,148

     

     

    167,147

     

     

     

    554,880

     

    Income tax (benefit) expense

    (145,545

    )

     

     

    7,057

     

     

    (140,352

    )

     

     

    50,434

     

    Net income

    $

    102,898

     

     

     

    $

    112,091

     

     

    $

    307,499

     

     

     

    $

    504,446

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Earnings per share - diluted

    $

    0.81

     

     

     

    $

    0.89

     

     

    $

    2.44

     

     

     

    $

    4.00

     

     

     

     

     

     

     

     

     

    Weighted average shares outstanding - diluted

    126,638

     

     

    125,384

     

    126,259

     

     

    126,152

     

    CITRIX SYSTEMS, INC.

    Condensed Consolidated Balance Sheets

    (In thousands - unaudited)

     

    December 31, 2021

    December 31, 2020

    ASSETS

     

     

    Cash and cash equivalents

    $

    513,993

     

    $

    752,895

     

    Short-term investments, available for sale

    13,186

     

    124,113

     

    Accounts receivable, net

    885,311

     

    858,009

     

    Inventories, net

    23,158

     

    20,089

     

    Prepaid expenses and other current assets

    283,337

     

    236,000

     

    Total current assets

    1,718,985

     

    1,991,106

     

    Long-term investments, available for sale

    14,754

     

    14,365

     

    Property and equipment, net

    219,031

     

    208,811

     

    Operating lease right-of-use assets, net

    154,685

     

    187,129

     

    Goodwill

    3,400,792

     

    1,798,408

     

    Other intangible assets, net

    760,293

     

    81,491

     

    Deferred tax assets, net

    417,016

     

    386,504

     

    Other assets

    289,961

     

    222,533

     

    Total assets

    $

    6,975,517

     

    $

    4,890,347

     

     

     

     

    LIABILITIES AND STOCKHOLDERS' EQUITY

     

     

    Accounts payable

    $

    165,250

     

    $

    92,266

     

    Accrued expenses and other current liabilities

    444,767

     

    507,185

     

    Income taxes payable

    35,996

     

    42,760

     

    Current portion of deferred revenues

    1,708,058

     

    1,510,216

     

    Total current liabilities

    2,354,071

     

    2,152,427

     

     

     

     

    Long-term portion of deferred revenues

    329,535

     

    392,360

     

    Long-term debt

    3,326,327

     

    1,732,622

     

    Long-term income taxes payable

    204,782

     

    232,086

     

    Operating lease liabilities

    166,014

     

    195,767

     

    Other liabilities

    47,531

     

    72,942

     

    Stockholders' equity:

     

     

    Common stock

    325

     

    322

     

    Additional paid-in capital

    7,041,576

     

    6,608,018

     

    Retained earnings

    5,100,624

     

    4,984,333

     

    Accumulated other comprehensive loss

    (2,896

    )

    (3,649

    )

    Less - common stock in treasury, at cost

    (11,592,372

    )

    (11,476,881

    )

    Total stockholders' equity

    547,257

     

    112,143

     

    Total liabilities and stockholders' equity

    $

    6,975,517

     

    $

    4,890,347

     

     

    CITRIX SYSTEMS, INC.

    Condensed Consolidated Statement of Cash Flows

    (In thousands - unaudited)

     

    Year Ended

     

    December 31, 2021

     

     

    OPERATING ACTIVITIES

     

    Net income

    $

    307,499

     

    Adjustments to reconcile net income to net cash provided by operating activities:

     

    Depreciation, amortization and other

    356,986

     

    Stock-based compensation expense

    346,751

     

    Deferred income tax benefit

    (160,849

    )

    Effects of other rate changes on monetary assets and liabilities denominated in foreign currencies

    11,709

     

    Impairment of long-lived assets

    36,861

     

    Other non-cash items

    (10,931)

     

    Total adjustments to reconcile net income to net cash provided by operating activities

    580,527

     

    Changes in operating assets and liabilities, net of the effects of acquisitions:

     

    Accounts receivable

    (24,182)

     

    Inventories

    (4,028

    )

    Prepaid expenses and other current assets

    (42,932

    )

    Other assets

    (105,548

    )

    Income taxes, net

    (68,198

    )

    Accounts payable

    64,219

     

    Accrued expenses and other current liabilities

    (127,814)

     

    Deferred revenues

    101,773

     

    Other liabilities

    (9,665)

     

    Total changes in operating assets and liabilities, net of the effects of acquisitions

    (216,375)

     

    Net cash provided by operating activities

    671,651

     

    INVESTING ACTIVITIES

     

    Purchases of available-for-sale investments

    (23,719

    )

    Proceeds from maturities of available-for-sale investments

    134,273

     

    Purchases of property and equipment

    (83,432

    )

    Cash paid for acquisitions, net of cash acquired

    (2,022,304

    )

    Cash paid for licensing agreements, patents and technology

    (12,129

    )

    Other

    7,794

     

    Net cash used in investing activities

    (1,999,517)

     

    FINANCING ACTIVITIES

     

    Proceeds from issuance of common stock

    283

     

    Proceeds from term loan credit agreement, net of issuance costs

    997,947

     

    Repayment on term loan credit agreement

    (150,000)

     

    Proceeds from senior notes, net of issuance costs

    741,393

     

    Repayment of acquired debt

    (190,000

    )

    Cash paid for tax withholding on vested stock awards

    (115,491

    )

    Cash paid for dividends

    (183,788

    )

    Other

    (5,438

    )

    Net provided by financing activities

    1,094,906

     

    Effect of exchange rate changes on cash and cash equivalents

    (5,942

    )

    Change in cash and cash equivalents

    (238,902

    )

    Cash and cash equivalents at beginning of period

    752,895

     

    Cash and cash equivalents at end of period

    $

    513,993

     

    Reconciliation of Non-GAAP Financial Measures to Comparable U.S. GAAP Measures

    (Unaudited)

    Pursuant to the requirements of Regulation G, the Company has provided a reconciliation of each non-GAAP financial measure used in this letter to the most directly comparable GAAP financial measure. These measures differ from GAAP in that they exclude amortization primarily related to acquired intangible assets, stock-based compensation expenses, acquisition-related costs and charges associated with the Company's restructuring programs, and the related tax effect of those items, and charges and benefits related to tax reform. The income tax effect on non-GAAP items is calculated based upon the tax laws and statutory income tax rates applicable in the tax jurisdiction(s) of the underlying non-GAAP adjustment. The Company's basis for these adjustments is described below.

    Management uses these non-GAAP measures for internal reporting and forecasting purposes, when publicly providing its business outlook, to evaluate the Company's performance and to evaluate and compensate the Company's executives. The Company has provided these non-GAAP financial measures in addition to GAAP financial results because it believes that these non-GAAP financial measures provide useful information to certain investors and financial analysts for comparison across accounting periods not influenced by certain non-cash items or cash charges that are the result of discrete activities that are not used by management when evaluating the Company's historical and prospective financial performance. In addition, the Company has historically provided this or similar information and understands that some investors and financial analysts find this information helpful in analyzing the Company's operating margins, operating expenses and net income and comparing the Company's financial performance to that of its peer companies and competitors. Management typically excludes the amounts described above when evaluating the Company's operating performance and believes that the resulting non-GAAP measures are useful to investors and financial analysts in assessing the Company's operating performance due to the following factors:

    • The Company does not acquire businesses on a predictable cycle. The Company, therefore, believes that the presentation of non-GAAP measures that adjust for the impact of amortization of intangible assets and stock-based compensation expenses and the related tax effects that are primarily related to acquisitions, provide investors and financial analysts with a consistent basis for comparison across accounting periods and, therefore, are useful to investors and financial analysts in helping them to better understand the Company's operating results and underlying operational trends.



      Amortization and impairment of intangible assets and the related tax effects are fixed at the time of an acquisition, are then amortized over a period of several years after the acquisition and generally cannot be changed or influenced by management after the acquisition.



      Although stock-based compensation is an important aspect of the compensation of the Company's employees and executives, stock-based compensation expense is generally fixed at the time of grant, then amortized over a period of several years after the grant of the stock-based instrument, and generally cannot be changed or influenced by management after the grant.



      In connection with our acquisitions, we may incur significant expenses which we would not have otherwise incurred as part of our business operations. These acquisition-related costs include professional fees, certain financing costs, and concurrent restructuring activities, including employee severance and other exit costs, as well as changes to the fair value of contingent consideration related to the acquired company. We exclude these costs from our non-GAAP results as they have no direct correlation to the operation of our business, and because we believe that the non-GAAP financial measures excluding these costs provide meaningful supplemental information regarding the spending trends of our business. In addition, these costs vary, depending on the size and complexity of the acquisition, and are not indicative of costs of future acquisitions.



      The Company has engaged in various restructuring activities over the past several years that have resulted in costs associated with reductions in headcount, consolidation of leased facilities and related costs. Each restructuring activity has been a discrete event based on a unique set of business objectives or circumstances, and each has differed from the others in terms of its operational implementation, business impact and scope. While the Company's operations previously benefited from the employees and facilities covered by the various restructuring charges, these employees and facilities have benefited different parts of the Company's business in different ways, and the amount of these charges has varied significantly from period to period. The Company, therefore, believes that the exclusion of these charges will better help investors and financial analysts understand the Company's operating results and underlying operational trends.



      Tax charges or benefits resulting from the enactment of Swiss tax reform. These charges or benefits are not anticipated to be ongoing; and, thus, are outside of the normal operations of the Company's business. Therefore, the Company believes that the exclusion of these charges or benefits will better help investors and financial analysts understand the Company's operating results and underlying operational trends.

    These non-GAAP financial measures are not prepared in accordance with accounting principles generally accepted in the United States ("GAAP") and may differ from the non-GAAP information used by other companies. There are significant limitations associated with the use of non-GAAP financial measures. The additional non-GAAP financial information presented here should be considered in conjunction with, and not as a substitute for or superior to, the financial information presented in accordance with GAAP (such as net income and earnings per share) and should not be considered measures of the Company's liquidity.

    CITRIX SYSTEMS, INC.

    GAAP to Non-GAAP Reconciliation

    (In thousands, except per share data and operating margin data - unaudited)

    The following tables show the non-GAAP financial measures used in this press release reconciled to the most directly comparable GAAP financial measures.

     

    Three Months Ended

    December 31, 2021

    Twelve Months Ended

    December 31, 2021

    GAAP operating margin

    (2.9)%

    7.4%

    Add: stock-based compensation

    11.4

    10.8

    Add: amortization and impairment of product related and other intangible assets

    6.7

    4.6

    Add: acquisition-related costs

    -

    0.5

    Add: restructuring charges

    12.2

    3.2

    Non-GAAP operating margin

    27.4%

    26.5%

     

     

     

    Three Months Ended

    December 31, 2021

    Twelve Months Ended

    December 31, 2021

     

    GAAP net income

    $102,898

    $307,499

     

    Add: stock-based compensation

    97,150

    346,751

     

    Add: amortization and impairment of product related and other intangible assets

    57,327

    149,411

     

    Add: acquisition-related costs

    -

    23,264

     

    Add: restructuring charges

    103,323

    103,323

     

    Less: tax effects related to above items

    (54,016)

    (137,146)

     

    Less: benefit related to Swiss tax reform

    (120,359)

    (120,359)

     

    Non-GAAP net income

    $186,323

    $672,743

     

     

     

    Three Months Ended

    December 31, 2021

      Twelve Months Ended

    December 31, 201

    GAAP earnings per share - diluted

     

    $0.81

     

    $2.44

    Add: stock-based compensation

     

    0.77

     

    2.75

    Add: amortization and impairment of product related and other intangible assets

     

    0.46

     

    1.18

    Add: acquisition-related costs

     

    -

     

    0.18

    Add: restructuring charges

     

    0.82

     

    0.82

    Less: tax effects related to above items

     

    (0.44)

     

    (1.09)

    Less: benefit related to Swiss tax reform

     

    (0.95)

     

    (0.95)

    Non-GAAP earnings per share - diluted

     

    $1.47

     

    $5.33

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20220131005425/en/

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      4 - CITRIX SYSTEMS INC (0000877890) (Issuer)

      10/3/22 9:58:27 AM ET
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    • SEC Form 4: Sacripanti Peter John returned 16,196 shares to the company, closing all direct ownership in the company (for tax liability)

      4 - CITRIX SYSTEMS INC (0000877890) (Issuer)

      10/3/22 9:56:34 AM ET
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      Computer Software: Prepackaged Software
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    • SEC Form 4: Knowling Robert E Jr returned 3,502 shares to the company, closing all direct ownership in the company (for tax liability)

      4 - CITRIX SYSTEMS INC (0000877890) (Issuer)

      10/3/22 9:54:28 AM ET
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    • Citrix Systems, Inc.: Please contact the Portnoy Law Firm to recover your losses; February 13, 2023 deadline

      Investors can contact the law firm at no cost to learn more about recovering their losses LOS ANGELES, Feb. 09, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Citrix Systems, Inc. ("Citrix" or "the Company") (NASDAQ:CTXS) investors that a lawsuit filed on behalf of investors that purchased Citrix securities (NASDAQ:CTXS) between January 22, 2020 and October 6, 2021, both dates inclusive (the "Class Period"). Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: [email protected], to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation

      2/9/23 12:27:14 AM ET
      $CTXS
      Computer Software: Prepackaged Software
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    • Vista Equity Partners and Evergreen Coast Capital Announce the Completion of the Transaction to Acquire Citrix Systems and Combine It with TIBCO Software

      Vista Equity Partners ("Vista"), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, and Evergreen Coast Capital Corp. ("Evergreen"), an affiliate of Elliott Investment Management L.P. (together with its affiliates, collectively, "Elliott"), today announced the successful completion of their previously announced transaction to acquire Citrix Systems, Inc. (NASDAQ:CTXS) ("Citrix") and combine it with TIBCO Software ("TIBCO"). The transaction is valued at $16.5 billion, including the assumption of Citrix debt, and follows the receipt of all regulatory approvals and compliance with all closing conditions. The transaction closed

      9/30/22 9:30:00 AM ET
      $CTXS
      Computer Software: Prepackaged Software
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    • Kyndryl and Citrix Announce Global Alliance to Help Customers Accelerate Adoption of Digital Workplace Virtualization Services and Solutions

      Kyndryl (NYSE:KD), the world's largest IT infrastructure services provider, today announced a global alliance with Citrix (NYSE:CTXS) to help businesses improve workplace collaboration and employee productivity to address the rapidly changing requirements of today's hybrid workforce on a global scale. By leveraging the longstanding operational and industry expertise of Kyndryl's Digital Workplace Services, powered by Citrix DaaS, both companies will continue to develop modernized, end-to-end IT management services and virtual desktop solutions across hybrid and multi-cloud environments for new and existing customers. Through the alliance, Kyndryl will extend the reach of its framework of

      9/29/22 9:00:00 AM ET
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    • Citrix Systems downgraded by Bernstein

      Bernstein downgraded Citrix Systems from Outperform to Market Perform

      2/23/22 6:13:34 AM ET
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      Computer Software: Prepackaged Software
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    • Morgan Stanley reiterated coverage on Citrix Systems with a new price target

      Morgan Stanley reiterated coverage of Citrix Systems with a rating of Underweight and set a new price target of $104.00 from $85.00 previously

      2/1/22 8:44:36 AM ET
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      Computer Software: Prepackaged Software
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    • Citrix Systems downgraded by Citigroup with a new price target

      Citigroup downgraded Citrix Systems from Neutral to Sell and set a new price target of $85.00 from $103.00 previously

      1/25/22 6:19:59 AM ET
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    SEC Filings

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    • SEC Form 15-12G filed by Citrix Systems Inc.

      15-12G - CITRIX SYSTEMS INC (0000877890) (Filer)

      10/12/22 3:09:30 PM ET
      $CTXS
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    • SEC Form S-8 POS filed by Citrix Systems Inc.

      S-8 POS - CITRIX SYSTEMS INC (0000877890) (Filer)

      10/3/22 5:20:01 PM ET
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    • Citrix Systems Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Termination of a Material Definitive Agreement, Completion of Acquisition or Disposition of Assets, Creation of a Direct Financial Obligation, Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing, Material Modification to Rights of Security Holders, Changes in Control of Registrant, Leadership Update, Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year, Other Events, Financial Statements and Exhibits

      8-K - CITRIX SYSTEMS INC (0000877890) (Filer)

      10/3/22 5:18:37 PM ET
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    • Vista Equity Partners and Evergreen Coast Capital Announce Appointment of Tom Krause as CEO of Combined Company of Citrix Systems and TIBCO Software Upon Closing

      Mr. Krause brings 20 years of experience leading and building software and technology companies Combination of Citrix and TIBCO expected to close in Q3 2022, in conjunction with previously announced acquisition of Citrix by Vista and Evergreen Vista Equity Partners, a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses ("Vista"), and Evergreen Coast Capital Corp. ("Evergreen"), an affiliate of Elliott Investment Management L.P. (together with its affiliates, collectively, "Elliott"), today announced that, upon the closing of the previously announced combination of Citrix Systems, Inc. (NASDAQ:CTXS) ("Citrix") and TIBCO Software

      7/11/22 4:05:00 PM ET
      $CTXS
      Computer Software: Prepackaged Software
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    • Relay Robotics Secures $10 Million Financing

      Acquires Savioke R&D, Relay® Product Line Names Michael O'Donnell Chairman & CEO Relay Robotics, Inc. — a new corporation formed by the acquisition of leading robotics developer Savioke — announced the completion of a $10,000,000 Series A Financing and the appointment of veteran technology executive, Michael O'Donnell, as Chairman and Chief Executive Officer. Savioke Co-Founder, Steve Cousins, will become Chief Technology Officer of Relay Robotics and lead the company's product strategy and innovation efforts. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220501005046/en/Michael O'Donnell, Chairman and Chief Executive Officer,

      5/2/22 7:00:00 AM ET
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    • Phunware Appoints Matt Lull as Executive Vice President & Chief Cryptocurrency Officer

      AUSTIN, Texas, April 21, 2022 (GLOBE NEWSWIRE) -- Phunware, Inc. (NASDAQ:PHUN) (the "Company"), a fully-integrated enterprise cloud platform for mobile that provides products, solutions, data and services for brands worldwide, announced today that Matt Lull, a 30-year veteran in technology and finance for Fortune 500 companies, has been hired as the Company's first-ever Executive Vice President and Chief Cryptocurrency Officer, effective April 18, 2022. "We are extremely excited to continue expanding our core executive team, this time adding one of the world's first public company Chief Cryptocurrency Officer positions in the world," said Alan S. Knitowski, President, CEO and Co-Founder o

      4/21/22 9:00:00 AM ET
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    • SEC Form SC 13G/A filed by Citrix Systems Inc. (Amendment)

      SC 13G/A - CITRIX SYSTEMS INC (0000877890) (Subject)

      3/10/22 12:48:36 PM ET
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    • SEC Form SC 13G/A filed by Citrix Systems Inc. (Amendment)

      SC 13G/A - CITRIX SYSTEMS INC (0000877890) (Subject)

      2/14/22 2:34:19 PM ET
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    • SEC Form SC 13G/A filed by Citrix Systems Inc. (Amendment)

      SC 13G/A - CITRIX SYSTEMS INC (0000877890) (Subject)

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    • Citrix Reports Fourth Quarter and Fiscal Year 2021 Financial Results

      Citrix Systems, Inc. (NASDAQ:CTXS) today reported financial results for the fourth quarter and fiscal year ended December 31, 2021. Financial Results For the fourth quarter of fiscal year 2021, Citrix achieved revenue of $851 million, compared to $810 million in the fourth quarter of fiscal year 2020, representing 5 percent revenue growth. For fiscal year 2021, Citrix reported annual revenue of $3.22 billion, compared to $3.24 billion for fiscal year 2020, a 1 percent decrease. GAAP Results Net income for the fourth quarter of fiscal year 2021 was $103 million, or $0.81 per diluted share, compared to $112 million, or $0.89 per diluted share, for the fourth quarter of fiscal year 2020. N

      1/31/22 8:00:00 AM ET
      $CTXS
      Computer Software: Prepackaged Software
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    • Citrix to Be Acquired by Affiliates of Vista Equity Partners and Evergreen Coast Capital for $16.5 Billion

      Citrix shareholders to receive a 30% premium to Citrix's unaffected price Acquisition will take Citrix private, allowing company to accelerate its SaaS transformation, increase investment, and expand platform for secure hybrid work Citrix to combine with Vista portfolio company TIBCO Software to create global digital workspace and data analytics leader Citrix Systems, Inc. (NASDAQ:CTXS) ("Citrix"), today announced that it has entered into a definitive agreement under which affiliates of Vista Equity Partners ("Vista"), a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, and Evergreen Coast Capital Corporation ("Evergreen"),

      1/31/22 8:00:00 AM ET
      $CTXS
      Computer Software: Prepackaged Software
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    • Citrix Reports Third Quarter 2021 Financial Results

      Citrix Systems, Inc. (NASDAQ:CTXS) today reported financial results for the third quarter ended September 30, 2021 by posting an earnings letter on its Investor Relations website at http://www.citrix.com/investors. Citrix will host a conference call today at 8:15 a.m. ET to address questions. The conference call may be accessed via webcast at http://www.citrix.com/investors. A replay of the audio webcast can be accessed for approximately 90 days on the Investor Relations section of the Citrix corporate website at http://www.citrix.com/investors. About Citrix Citrix (NASDAQ:CTXS) builds the secure, unified digital workspace technology that helps organizations unlock human potential and de

      11/4/21 7:00:00 AM ET
      $CTXS
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