Barracuda Networks provides cloud-based security and storage solutions. The company has a very attractive investment profile: Barracuda have been increasing its revenue since 2012 fiscal year by at least 13%. Analysts forecast that the company will be able to increase its revenue this year by around 18% which is still rather high growth rate. As usual, I checked the operating metrics of the company and got interesting results: ARPA is stable, it grew up around 3% in 2014 and the company kept it at the same level in 2015 fiscal year.. ARPA is around $1,139. If we compare 1Q 2016 fiscal year - this metric is also stable. Therefore I think that Barracuda will keep this level of ARPA for the whole 2016 fiscal year; Customer acquisition cost: the company made a great step in 2015 fiscal year and reduced the customer acquisition cost from $4,446 to $3,415. I assume that this year the company will increase this metric by 4-5% - we saw it in 1Q 2016 fiscal year; Some analysts predict the significant increase in EBITDA margin, but I don't see any reasons for that. The company kept the same approximately the same level of expenses, slightly increased marketing and sales expenses. Therefore I think that we do not need to wait for a significant marginality jump. To sum up, if we take into consideration the operaing metrics, the company is quite interesting for investing. Moreover, the company's long-term debt is just around $4.3M, while the revenue is around $277M.