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Clearlake-backed Ivanti reports 21% drop in EBITDA

privateequitywire

1 hour ago

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Ivanti’s second-quarter earnings fell sharply, adding to pressure on the Clearlake Capital-backed cybersecurity software company as it works to revive growth and manage a heavy debt burden following its shift to a subscription-based model, according to a report by Bloomberg.
The report cites unnamed people familiar with the figures as saying that the Utah-based company reported second-quarter revenue of $189m, an 11% decline from a year earlier. Pro forma adjusted EBITDA fell 21% to $72m.
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