Welcome to our dedicated page for Absolute Software Corporation news (Ticker: ABST), a resource for investors and traders seeking the latest updates and insights on Absolute Software Corporation stock.
Absolute Software Corporation (NASDAQ: ABST, TSX: ABST) is the only provider of self-healing, intelligent security solutions. Embedded in more than 600 million devices globally, Absolute is the only platform offering a permanent digital connection that intelligently and dynamically applies visibility, control, and self-healing capabilities to endpoints, applications, and network connections. The company specializes in protecting devices, data, applications, and users both on and off the network, thereby bridging the gap between security and IT operations.
Notably, Absolute’s patented Persistence® technology is embedded in the firmware of over a billion PC and mobile devices and is trusted by nearly 21,000 customers worldwide. This technology ensures that enterprises have actionable visibility to protect every endpoint, remediate vulnerabilities, and ensure compliance against insider and external threats. The company has also received recognition as a Leader for the fourteenth consecutive quarter in G2’s Summer 2023 Grid® Report for Endpoint Management and for the fourth consecutive quarter in the Grid Report for Zero Trust Networking.
Recently, Absolute expanded its Security Service Edge (SSE) solution with the launch of the Absolute Secure Web Gateway Service, optimized for hybrid and mobile work models. This new offering provides robust protections including multiple anti-virus scans, remote browser isolation, and data loss prevention. In addition, Absolute has been acknowledged by Forrester in its Q2 2023 Zero Trust Platforms Landscape report, emphasizing its capabilities to enhance visibility into enterprise assets and segmentation across distributed enterprises.
In terms of financial performance, Absolute reported a revenue of $58.8 million for Q3 F2023, representing a 13% increase compared to the same period in the previous fiscal year. The company has been showing strong financial resilience with its advanced security offerings.
In May 2023, Absolute entered into an acquisition agreement with Crosspoint Capital Partners, L.P., valuing the company at roughly $870 million. The acquisition was completed in July 2023, marking Absolute’s transition to a privately held company with the backing of Crosspoint’s expertise in cybersecurity and infrastructure software markets.
Absolute Software (NASDAQ: ABST) announced a leadership change with the departure of CFO Steven Gatoff for other opportunities. Ron Fior will serve as interim CFO while the company searches for a permanent replacement. CEO Christy Wyatt expressed confidence in Fior's extensive experience and the finance team. Absolute is known for its self-healing Zero Trust solutions, securing over 16,000 customers and embedded in more than half a billion devices, positioning itself as a leader in the cybersecurity sector.
Absolute Software has completed the SOC 2 Type I audit for its NetMotion by Absolute secure access cloud platform, reinforcing its dedication to data security and compliance. This independent audit validates that NetMotion meets the Trust Services Criteria set by the AICPA. As a leader in self-healing Zero Trust solutions, Absolute provides remote workforce solutions that enhance security and productivity. The company is also an ISO 27001 Certified Organization, ensuring effective information security management.
Absolute Software (NASDAQ: ABST) will present at the Raymond James 43rd Annual Institutional Investors Conference on March 9, 2022, at 10:25 AM Eastern Time. A live webcast of the event will be accessible via the Absolute Investor Relations website. The company, recognized as a leader in Zero Trust solutions, is trusted by nearly 16,000 customers and is embedded in over half a billion devices, ensuring maximum security and productivity for distributed workforces.
Absolute Software Corporation (Nasdaq: ABST) reported strong financial results for Q2 FY2022, showing revenue of $49.0 million, a 64% increase year-over-year. Adjusted Revenue grew to $52.9 million, representing a 77% increase from the previous year. Despite a net loss of $5.1 million, Total ARR reached $195.6 million, up 66%, with Enterprise & Government ARR growing by 94%. The Adjusted EBITDA margin was 26%. The company has increased its full-year adjusted revenue guidance to $206 million to $208 million, reflecting continued growth opportunities in the hybrid work environment.
Absolute Software (NASDAQ: ABST) announced that its NetMotion Mobility 12.14 product achieved the Common Criteria EAL 4+ certification, the highest internationally recognized level for software security. This accolade positions Absolute as the sole network solutions provider with this certification across multiple platforms, including Android, iOS, macOS, and Windows. The certification underscores its commitment to meeting stringent security standards for governmental and enterprise clients. This product offers secure, resilient access for remote workforces and is part of Absolute's Zero Trust solution portfolio.
Absolute Software (NASDAQ: ABST) has declared a quarterly dividend of CAD$0.08 per share, payable on February 25, 2022, to shareholders on record by February 11, 2022. This dividend is classified as an eligible dividend under Canadian tax laws. The company specializes in Zero Trust security solutions, aiming to enhance productivity and security for remote workforces. With over 16,000 customers, it continues to establish its presence in the cybersecurity space, recognized as a leader in Zero Trust Networking.
Absolute Software (NASDAQ: ABST) will release its financial results for Q2 fiscal 2022 on February 8, 2022, after market close. The results will cover the period ending December 31, 2021. A conference call to discuss the results and business outlook will occur at 5:00 p.m. ET the same day. Financial statements and management discussions will be available on the company's website and other regulatory platforms. Absolute is recognized for its self-healing Zero Trust solutions, driving security for its extensive customer base.
Absolute Software (NASDAQ:ABST) will present at the Needham Virtual Growth Conference on January 13, 2022. The company specializes in self-healing Zero Trust solutions, enhancing security for remote workforces. Their platform is embedded in over half a billion devices, providing visibility and control over endpoints and applications. Trusted by nearly 16,000 customers, Absolute was recognized as a leader in Zero Trust Networking by G2 in Fall 2021. A webcast of the event will be available on the Absolute Investor Relations website.
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