May 7, 2018 / 8:56 PM / a year ago

UPDATE 1-Everbridge forecasts revenue above estimates, shares rise

(Adds forecast, share price, compares with estimates)

May 7 (Reuters) - Everbridge Inc on Monday forecast second-quarter revenue above Wall Street estimates, driven by strong demand for its software and services that help alert large groups of people during emergencies.

Shares of the company, which also beat first-quarter revenue estimates and reported a smaller-than-expected loss, rose 3.9 percent to $41.20 in extended trading.

The company has benefited as large corporations and government agencies are increasingly looking for faster ways to get the word out on emergencies, so that they can minimize danger to employees during incidents such as natural disasters.

Everbridge, which is yet to report a profit since going public in 2016, forecast second-quarter revenue between $34 million and $34.3 million.

Analysts on average were expecting a revenue of $32.3 million, according to Thomson Reuters I/B/E/S.

Chief Executive Officer Jaime Ellertson told Reuters that the company will be in a position to generate profit in two-and-a-half years.

Net loss widened to $12.3 million, or 43 cents per share, in the first quarter ended March 31, from $6.2 million, or 23 cents share, a year earlier.

On an adjusted basis, the company lost 17 cents per share, smaller than the analysts’ average estimate of a loss of 20 cents per share.

Revenue rose 34 percent to $30.5 million, beating estimates of $29.6 million. (Reporting by Munsif Vengattil in Bengaluru; Editing by Sriraj Kalluvila and Shounak Dasgupta)

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