Even though they were commonplace in quarters past, "beat and raise" quarters have been exceedingly rare in the software sector since the pandemic began - mostly due to the fact that companies have pulled their full-year guidance outlooks in citing macro uncertainty.
Mimecast (MIME), the UK-based cybersecurity company focusing on protecting companies against email threats, has emerged as one of the few companies capable of delivering the elusive beat-and-raise this year. Though like most other enterprise-facing companies Mimecast has faced headwinds in demand, Mimecast is still delivering high-teens revenue growth above expectations while