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CynergisTek (NYSE American: CTEK) has secured a six-figure contract to implement Privileged Access Management (PAM) for a Midwest health system client, aimed at enhancing cybersecurity measures amid rising ransomware threats. This agreement aligns with new stringent requirements from cyber insurance providers, who are raising premiums and tightening coverage conditions. The company emphasizes the critical need for robust security protocols, as reports show a 60% increase in sophisticated attacks.
CynergisTek (CTEK) reports an increase in new client deals and contract renewals with leading health systems for its cybersecurity services, including the Resilience Partner Program and Virtual CISO services. Amid rising cyber threats, healthcare organizations are prioritizing cybersecurity, recognizing its impact on patient safety. A Ponemon Institute survey indicates that over 20% of healthcare respondents noted increased mortality due to ransomware attacks. CEO Mac McMillan highlights the industry's shift towards resilience in response to these challenges.
CynergisTek (AMEX:CTEK) has secured a contract worth nearly $300,000 to provide Red Team and Security Assessment services for a major U.S. federal credit union. With cybersecurity being paramount for financial institutions, this partnership emphasizes CynergisTek's reputation for delivering quality service in a competitive market. The assessment process will include evaluating social engineering practices and conducting penetration testing to identify vulnerabilities. CEO Mac McMillan highlighted the significance of this win, showcasing the company’s expanding client base beyond healthcare.
CynergisTek (CTEK) reports an increase in contracts for technical testing and certification services across various sectors, bolstered by rising cybersecurity threats. The company highlights the importance of validating technical controls as organizations face evolving security challenges. Enhanced demand for services like penetration testing and EPCS certification reflects a shift towards greater resilience in clients' cybersecurity postures. CynergisTek's expertise aligns with the growing need for assurance in system integrity, positioning the firm for potential revenue growth.
CynergisTek (AMEX:CTEK), a leader in cybersecurity, reports significant growth in contract wins for privacy consulting, GDPR, and CMMC services, with over 200% year-over-year growth. As data privacy and security become paramount for consumers, organizations are investing in compliance to enhance security practices and consumer trust. CynergisTek aims to expand its service offerings to meet growing demand, positioning itself as a vital partner for organizations navigating privacy regulations and cybersecurity threats.
CynergisTek (NYSE American: CTEK) has announced a $300,000 multi-year agreement to extend its Resilience Partner Program beyond healthcare, providing annual security risk assessments, penetration testing, and advisory services to a global sales enablement firm with about 2,000 clients. This shift signifies an important milestone in CynergisTek's strategy to enhance its offerings and aims to drive double-digit growth. The partnership helps clients bolster security and reduce cyber risks, showcasing the program's increasing value in the technology sector.
CynergisTek (NYSE American: CTEK) reports robust demand for its CMMC readiness services, signing nearly
CynergisTek (CTEK) has announced an expanded partnership with Florida International University (FIU), renewing a 3-year managed services contract to enhance cybersecurity support, including medical device security. This collaboration follows the introduction of CynergisTek's Resilience Validation™ program, which aims to improve clients' cyber-readiness through risk assessments and tailored advisory services. FIU's Chief Information Security Officer praised the partnership for providing essential insights and support in navigating cybersecurity challenges, especially during the pandemic.
CynergisTek, Inc. (CTEK) reported Q2 2021 financial results, showing a revenue decline to $3.9 million from $4.6 million year-over-year. The net loss improved to $0.1 million ($0.00 per share) compared to $2.5 million ($0.23 per share) in Q2 2020. Key operational highlights include a 70% increase in bookings and improved gross margins at 33%. The company aims to capitalize on its first-mover advantage in CMMC assessments, boosting its market potential as the healthcare sector rebounds post-COVID. Adjusted EBITDA loss was reduced to $0.6 million from $1.3 million.
