Congratulations to investors who either had the luck or foresight to hang on to their FireEye Inc (NASDAQ:FEYE) through Friday’s close. Although it would have been very easy to lock in the 40% gain FEYE stock mustered between mid-March and last week, shares advanced another 5% on Monday amid continued worries over the so-called “WannaCry” cyberattack.

Specifically, WannaCry is still taking aim at several of the world’s biggest institutions, wreaking even more havoc than initially expected.

If history repeats itself, it along with other cybersecurity stocks like Palo Alto Networks Inc (NYSE:PANW) will continue to move higher, as the echoes of the impact of WannaCry linger on.

And if you think it’s only a matter of time before FireEye peels back again — after the mania tapers off — know that things are different now. This time, there’s actually a reason to expect improving margins in step with rising revenue … the proverbial missing link to the story thus far.

The advent of WannaCry simply puts the spotlight on how far FEYE stock has progressed.

Rounding the Corner

With the exception of WannaCry, the cybersecurity/hacking landscape has been (relatively) tame of late. But don’t be fooled by the headlines, or lack thereof.

Hacking hasn’t slowed down since the high-profile gaffes like 2013’s theft of credit and debit card information from Target Corporation (NYSE:TGT). Consumers and investors have just grown more accustomed to such breakdowns. Indeed, the number of people who were victims of data breaches doubled last year, and ransomware attacks were able to run wild.

WannaCry is unique largely because it’s been surprisingly difficult to contain, reminding everyone we still need FireEye and its peers. Perhaps more relevant to investors, FEYE is more ready than it has ever been to meet the need, and perhaps even get within reach of profitability.

Kevin Mandia sold his cyber-forensics outfit Mandiant to FireEye in early 2014, and largely bowed out of the leadership/visionary picture. Big mistake. What used to be Mandiant has become FireEye’s centerpiece, so to speak. And without Mandia’s presence — and vision — the company has struggled to fire on all cylinders. Finally in May of last year, Mandia was promoted from president to CEO.

What a difference a year makes.

FireEye Is Transforming

FireEye is still in the red, but Mandia’s leadership skills are starting to make a difference. It’s clear why — he asks the right questions.

As he recently told Barron’s reporter Tiernan Ray when Ray asked him what was going right and not going right, “That’s funny, because I fixate on challenges, not on what’s going right.” Mandia added, “What was wrong? I needed new technology, and the cost structure was not what it should be.”

One of those new key technologies, by the way, was Helix — a software-as-a-service platform that allows for easy integration of a user’s cyberthreat-defense into one robust but easy-to-use interface. Last quarter’s results are markedly improved, largely thanks to the adoption of Helix.

In the bigger sense, however, it’s Mandia’s intuition about what’s marketable that’s made a difference. For the first time in a long time, top-line growth isn’t being accompanied by larger losses stemming from a string of acquisitions. Last year’s $480 million loss marked the first time FireEye’s red ink hasn’t grown. That’s largely attributable to Mandia’s leadership, and Helix.

Both are setting the stage for long-term sales growth that hadn’t been established before.

FireEye is still booking losses. The company is projected to lose 30 cents per share this year, then 3 cents in 2018. But sales are growing, and FEYE stock has a proverbial light at the end of the tunnel that traders haven’t seen in … well, ever.

Looking Ahead for FEYE Stock

The impact of WannaCry can’t be ignored. Several organizations that have been embarrassed by inadequate cyberprotection will certainly come knocking on FireEye’s door this week, not wanting to make the same mistake a second time.

Current and potential owners of FEYE stock who think this breakout move is only a trade, however, may want to take a second, closer look at the bigger picture. FireEye has transitioned from being nothing more than a trade to being (mostly) and investment.

That transition has actually been underway for a while, even if it was an event-based catalyst that brought this reality to the market’s attention.

As of this writing, James Brumley did not hold a position in any of the aforementioned securities.