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About Cybeats Technologies Corp. (CYBCF)
Cybeats Technologies Corp. is a global leader in cybersecurity, specializing in Software Bill of Materials (SBOM) management and software supply chain intelligence. Headquartered in Toronto, Ontario, Cybeats provides innovative solutions that help organizations manage risk, meet regulatory compliance, and secure their software ecosystems from procurement to development and operation. By offering comprehensive visibility and transparency into software supply chains, Cybeats empowers its clients to improve operational efficiency, enhance security, and drive revenue growth.
Core Offerings
At the heart of Cybeats' product suite is SBOM Studio, an industry-leading platform designed to streamline software vulnerability management, ensure regulatory compliance, and enhance supply chain transparency. SBOM Studio serves a diverse range of industries, including healthcare, industrial automation, and government sectors, enabling organizations to:
- Identify and mitigate software supply chain risks in real-time.
- Track and manage software vulnerabilities with automated risk analysis.
- Ensure compliance with evolving regulations such as the U.S. Executive Order 14028 and the EU Cyber Resilience Act.
- Facilitate secure SBOM sharing to foster trust and transparency with stakeholders.
Complementing SBOM Studio is SBOM Consumer, a solution tailored for organizations that procure and deploy software from multiple vendors. This platform simplifies SBOM ingestion, validation, and continuous monitoring, making it an essential tool for industries reliant on third-party software, such as healthcare and critical infrastructure.
Industry Leadership and Market Relevance
Cybeats has established itself as a trusted partner for some of the world's largest organizations, including Fortune 500 companies and government agencies like the U.S. Department of Defense. Its solutions align with global regulatory frameworks, providing clients with the tools needed to navigate complex compliance landscapes. In the healthcare sector, for instance, Cybeats supports medical device manufacturers (MDMs) in meeting FDA requirements for SBOMs, thereby enhancing patient safety and regulatory adherence.
The company's innovative approach extends to emerging technologies, with capabilities like AI Bill of Materials (AIBOM) management and AI Threat Intelligence Collection (AITIC). These advancements address the growing cybersecurity risks associated with artificial intelligence and software supply chains, further reinforcing Cybeats' market leadership.
Competitive Advantages
Cybeats differentiates itself through:
- Comprehensive Solutions: Offering end-to-end SBOM management for both software producers and consumers.
- Regulatory Alignment: Ensuring compliance with stringent regulations across North America and Europe.
- Proven ROI: Demonstrating measurable cost savings and efficiency gains for clients, such as reducing vulnerability management efforts by up to 75%.
- High Conversion Rates: Achieving a 90% conversion rate from product trials to long-term commercial licenses.
- Strategic Partnerships: Collaborating with industry leaders like Rockwell Automation and the U.S. Department of Defense.
Market Outlook
As global cybersecurity threats continue to rise, the demand for SBOM solutions is accelerating. Cybeats is strategically positioned to capitalize on this trend, offering scalable solutions that address both current and future market needs. With a growing customer base, recurring revenue model, and focus on innovation, Cybeats is poised to remain a key player in the cybersecurity landscape.
Conclusion
Cybeats Technologies Corp. exemplifies innovation and leadership in the cybersecurity industry. Its cutting-edge solutions, regulatory expertise, and commitment to transparency make it an indispensable partner for organizations aiming to secure their software supply chains. Cybeats. Software Made Certain.
Cybeats Technologies (CSE: CYBT) (OTCQB: CYBCF) has secured two new strategic contracts in the healthcare sector, specifically with medical device manufacturers (MDMs). The company reported significant growth metrics for 2024, including 148% net revenue retention and $7+ million in total contract commitments, up from $3.8 million in 2023.
The company's success in winning these contracts was attributed to its SBOM (Software Bill of Materials) management solutions' ease of integration, regulatory compliance capabilities, and demonstrated ROI. Notable operational updates include a 90% conversion rate from product trials to commercial licenses, and enhanced SBOM Consumer product features supporting integration with various asset management platforms.
The company's growth is supported by increasing regulatory pressure from the FDA, which now requires MDMs to provide SBOMs for device components and maintain vulnerability management processes. Cybeats' SBOM Studio was highlighted as the only commercial service featured in the NSA and U.S. Department of Defense's 2023 recommended cyber practices report.
Cybeats Technologies has secured a significant three-year agreement with Rockwell Automation (NYSE: ROK), the world's largest pure-play industrial automation company. The contract focuses on implementing Cybeats' SBOM Studio for software supply chain security management, particularly in industrial control systems (ICS).
The agreement represents one of the most substantial contracts in Cybeats' history, demonstrating increasing demand for software supply chain solutions in critical sectors. SBOM Studio provides measurable ROI through streamlined vulnerability management, enhanced supply chain transparency, and regulatory compliance support. The platform enables secure SBOM sharing and helps organizations meet regulatory requirements while accelerating product sales in highly regulated markets.
Cybeats Technologies (CSE: CYBT) (OTCQB: CYBCF) reported significant commercial growth in its SBOM Management solutions. Key highlights include: over $7 million in total contract commitments since May 2022 with 80%+ gross margins, 72% of existing customers increased their spending in 2024, and a 90% conversion rate from pilot to long-term relationships. The company secured a $1.65 million non-brokered private placement to enhance sales, marketing, and product development.
Market research indicates 64% of global organizations faced financial losses from supply chain vulnerabilities in 2024, up from 49% in 2022. With 79% of companies either requesting or planning to request SBOMs from vendors, Cybeats is positioned to capitalize on increasing regulatory requirements in EU and North America.
Cybeats Technologies (CSE: CYBT) (OTCQB: CYBCF) has announced the granting of 7,000,000 stock options to various employees, directors, officers, and consultants. The options are exercisable at $0.16 per share for a five-year period. Of the total, 3,250,000 options were granted to directors and officers. All options are subject to a four-month and one-day resale restriction under securities laws. The company utilized exemptions from valuation and minority shareholder approval requirements under MI 61-101 for the insider participation portion.
Cybeats Technologies has secured a master services agreement with a Top 10 global medical device manufacturer for SBOM Studio, marking their fourth client from the global top 10 in the MDM vertical. The client, while remaining anonymous for security reasons, is among the largest 100 companies in the U.S. by market capitalization.
The company reports a 30% organic contract growth rate, with significant interest from the medical device sector, partly driven by FDA's guidance on SBOMs and software supply chain security. The SBOM Studio offers medical device manufacturers several key benefits including:
- Enhanced cybersecurity and vulnerability management
- Software supply chain security
- FDA 510(k) compliance support
- Regulatory compliance for EU and NIST requirements
- Automated compliance monitoring and improved efficiency
Cybeats Technologies has appointed two cybersecurity industry leaders, Kurt Callewaert and Bob Haack, to its Advisory Board. Haack brings expertise in device security, particularly in medical devices and U.S. Department of Defense Risk Management Framework. Callewaert joins following the recent Cybeats-Capyx partnership, bringing expertise in EU compliance requirements including the Cyber Resilience Act, NIS2, and DORA. As Business Line Director Cybersecurity of Capyx Belgium and founder & co-CEO of Capyx Luxembourg, Callewaert will support Cybeats' commercial expansion. The appointments strengthen Cybeats' position in software supply chain security and regulatory compliance.
Cybeats Technologies (CSE: CYBT) (OTCQB: CYBCF) has appointed Sophic Capital as its investor relations partner to enhance investor awareness through comprehensive communications strategy. The 12-month agreement includes monthly payments of $8,000 and grants Sophic options to purchase 1,000,000 common shares at $0.16 per share, vesting quarterly in four tranches. The partnership aims to communicate Cybeats' growth strategy to investment advisors, dealers, institutions, and financial professionals, leveraging Sophic's established network in capital markets.
Cybeats Technologies announces its readiness to support the U.S. Army's new mandate requiring Software Bills of Materials (SBOMs) from all vendors by February 2025. The company highlights two key products: SBOM Studio for software developers and SBOM Consumer, specifically designed for organizations like the U.S. Army that procure software from multiple vendors. SBOM Consumer offers SBOM validation, quality assessment, and continuous vulnerability monitoring capabilities. The company also introduced AITIC, an AI-powered threat intelligence collection feature that enhances software supply chain security by analyzing public data for vulnerability signals.
Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) has announced a commercial reseller agreement with Capyx, an IT services provider in Belgium. Capyx will act as a value-added reseller, offering Cybeats' SBOM Studio and vulnerability management services in Belgium and Luxembourg. This partnership aims to help organizations meet European regulations like NIS2, EU Cyber Resilience Act (CRA), and Digital Operational Resilience Act (DORA).
To celebrate Cybersecurity Awareness Month, Cybeats and Capyx will host the Cybeats x Capyx: SBOM Summit, Belgium 2024. The event will focus on software supply chain security, SBOM management, and compliance with European regulations. Cybeats recently launched 'SBOM Consumer', a new product for organizations to collect, analyze, and manage SBOMs, improving security practices in sectors like healthcare and utilities.
Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) has been enlisted by the U.S. Department of Defense to deploy its SBOM Studio platform. The technology will be used by multiple components of the US military, including the U.S. Army and U.S. Naval Air Systems Command. This deployment solidifies Cybeats' position as a trusted provider of cybersecurity solutions to the U.S. government, bringing its Software Bill of Materials (SBOM) management solution to three branches of the U.S. military.
The market for Cybeats' solutions has been propelled by Executive Order 14028, which outlined SBOM mandates and enhanced supply chain risk management across the U.S. government. SBOM Studio will identify software supply chain risks in real time, track and manage software vulnerabilities, and help ensure compliance with the executive order.
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