DATA443 RISK MTIGTING INC - ATDS STOCK NEWS

Deal Brings $483K in Additional ARR, More Organic Growth

Data443 Risk Mitigation, Inc. (OTCPK: ATDS) announced a new contract with a major U.S. bank, contributing an additional $483,788 to its annual recurring revenue (ARR). The bank will expand its use of Data443's secure file transport platform for intra-bank and federal reserve data interchanges, leveraging a 100% uptime record and efficient cost-per-transaction. In light of increasing ransomware threats, Data443's solutions stand out for their secure code implementations and robust infrastructure. CEO Jason Remillard emphasizes the importance of ransomware recovery capabilities in today's market, indicating strong demand for their services. The company continues to focus on multi-cloud environments, providing significant cost efficiencies and enhanced disaster recovery options for clients.

Data443 Risk Mitigation (OTCPK: ATDS) has secured a contract renewal worth $220,000 in Annual Recurring Revenue from a longstanding multinational fintech client. This company, which facilitates payment technology, processes over 10 million sensitive files annually for numerous partners. The renewal underlines Data443's commitment to data security and its ability to deliver strong Managed File Transfer (MFT) solutions.

CEO Jason Remillard highlighted the importance of flexible pricing to boost innovation and reduce cost barriers for clients. The contract renewal reflects a trend of increasing client satisfaction and recurring revenue. Data443 aims to grow its presence in the MFTPaaS market, which is rapidly expanding due to rising security demands.

Data443 Risk Mitigation (OTCPK: ATDS) announced a contract win with a leading global fintech client, adding $179,202 Annual Recurring Revenue (ARR) with options for increased consumption. The client processes over 75 billion transactions annually, totaling more than $9 trillion. Data443 has maintained a partnership with the client for over 15 years, providing enterprise file transfer services. The company is focused on secure data handling, leveraging cloud-based architectures and meeting the growing demand for managed file transfer platforms. Challenges include competition from integration platform-as-a-service and potential market exits among pure-play providers. CEO Jason Remillard notes a rising need for these capabilities across industries, not limited to fintech.

Data443 Risk Mitigation, Inc. (OTCPK: ATDS) has been recognized by PC Magazine for its Ransomware Recovery Manager (RRM), naming it ‘Best of Inexpensive Protection’ and ‘Best for Kiosks’ in the 2023 ransomware protection rankings. RRM builds on the success of its Antivirus Protection Manager (APM), which received the VB100 Certification for quality. Jason Remillard, CEO, emphasized the product’s unique capability to restore devices with a simple reboot, addressing growing cybersecurity threats. The company aims to enhance its solutions continuously, leveraging partnerships and extensive data sensitivity patterns to serve over 400,000 installations globally.

Data443 Risk Mitigation, Inc. (OTC: ATDS) provides an update on its proposed uplisting to The Nasdaq Capital Market. Following the filing of its Annual Report on Form 10-K for the fiscal year ending December 31, 2022, the company will no longer be subject to Nasdaq's higher seasoning price compliance. Currently, it must maintain a closing bid of at least $4.00 for 30 of 60 days prior to its initial listing application. The CEO expresses optimism that the uplist will enhance the company's profile in cybersecurity and data management, thereby supporting funding and growth strategies.

Data443 Risk Mitigation (OTC: ATDS) has announced that its antivirus product, Data443 Antivirus Protection Manager, has achieved the VB100 certification from Virus Bulletin. This certification confirms the product detects 100% of in-the-wild malware without generating false alerts. The antivirus software is designed for various environments, including desktops, laptops, and cloud platforms. Data443's CEO highlighted the certification as a testament to their commitment to cybersecurity and market leadership.

Data443 Risk Mitigation (OTC: ATDS) has announced a $350,000 contract addition with a major global investment bank, enhancing their existing agreement. This contract involves licensing for the Data443 Data Placement Manager™, a secure file transfer solution for HPE NonStop servers, facilitating the transfer of critical data. The bank, with over $2 trillion in assets, significantly relies on Data443’s solutions for daily transactions. CEO Jason Remillard emphasized the company’s commitment to customer service and innovative technology that meets evolving market demands.

Data443 Risk Mitigation has announced the integration of its Data Hound™ platform with Webex by Cisco, enhancing data security for organizations using Webex for collaboration. This partnership aims to address data privacy and governance challenges in hybrid work environments. The Data Hound™ platform provides rapid data sensitivity scanning and integrates with over 200 systems, strengthening compliance and governance capabilities. The product is available immediately for trial and purchase via the Webex app.

Data443 Risk Mitigation, Inc. (OTCPK: ATDS) reported its Q3 and nine-month results ending September 30, 2022. Despite a 39% revenue decrease to $916,172 in Q3 and a 26% decline to $2,279,677 for the nine months, the company retained 99% of its customers. Key achievements included acquiring ransomware protection assets and securing multiyear contracts with major financial institutions. Increased expenses (48% rise in Q3) led to a net loss of $1,582,720, significantly higher than the previous year. Deferred revenues grew by 65% to $2,652,382, signaling future revenue potential.