CyberCatch Highlights Increasing Revenue Trends for its Proprietary AI-Enabled Cybersecurity Solution

Rhea-AI Summary

CyberCatch Holdings, Inc. (TSXV: CYBE), an innovative cybersecurity company, has reported significant revenue growth for its AI-enabled SaaS solution. The company's gross revenues increased by 159.7% for the fiscal year ending July 31, 2023, compared to the previous year. Additionally, for the six months ending January 31, 2024, gross revenues surged by 245.8% compared to the same period in the previous year.

This growth trend is attributed to the rising global cyber-attacks on corporations, SMEs, and governments, leading to increased adoption of CyberCatch's unique, patented SaaS solution. CEO Sai Huda emphasized that the company has successfully transitioned from concept to development, achieving product-market fit and positioning itself for further significant growth in the coming months and new fiscal year.

Positive

• Gross revenues increased by 159.7% for fiscal year ending July 31, 2023
• Gross revenues surged by 245.8% for six months ending January 31, 2024
• Successful transition from concept to product-market fit
• Positioned for further significant growth in coming months

Negative

• None.

Vancouver, British Columbia and San Diego, California--(Newsfile Corp. - July 16, 2024) - CyberCatch Holdings, Inc.  (TSXV: CYBE) ("CyberCatch'' or the "Company"), an innovative cybersecurity company offering an AI-enabled platform solution for continuous compliance and cyber risk mitigation, is pleased to highlight the increasing revenue trends for its Software-as-a-Service (SaaS) solution.

As the number of global cyber-attacks on major corporations, small and medium enterprises (SMEs) and governments have significantly increased, gross revenues for CyberCatch's Cybersecurity SaaS solution increased 159.7% for its most recent fiscal year ending July 31, 2023 compared to fiscal year ending July 31, 2022 and gross revenues increased 245.8% in current fiscal year for six months ending January 31, 2024 compared to previous year six months period ending January 31, 2023.

Further details regarding the revenues and comparative analysis are available in the Company's interim financial statements and management's discussion and analysis at www.sedarplus.ca.

"We are pleased to highlight the increasing revenue trends since it reflects the increasing growth in customers adopting our unique, patented SaaS solution in a wide range of segments so they can mitigate the significantly increased cyber threats faced. We have successfully moved from concept to development to having proven product-market fit and are positioned to scale in the coming months and new fiscal year for further significant growth," said Sai Huda, CEO, CyberCatch.

To learn more and watch a demo of CyberCatch's solution, visit: https://cybercatch.com.

About CyberCatch
CyberCatch Holdings, Inc. (TSXV:CYBE) provides a proprietary, AI-enabled Software-as-a-Service (SaaS) solution that provides continuous compliance and cyber risk mitigation to organizations in critical segments, so they can be safe from cyber threats. The CyberCatch platform focuses on solving the root cause of why cyberattacks are successful: security holes from control deficiencies. It first helps implement all mandated and necessary controls, then the platform automatically and continuously tests the controls from three dimensions (outside-in, inside-out and social engineering) to find control failures so one can fix them promptly to stay compliant and safe from attackers. Learn more at: https://www.cybercatch.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Investor Relations
Phone: 1-866-753-2923
Email: info@cybercatch.com

SOURCE CyberCatch

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216581

FAQ

What was CyberCatch's (CYBHF) revenue growth for the fiscal year ending July 31, 2023?

CyberCatch's gross revenues increased by 159.7% for the fiscal year ending July 31, 2023, compared to the previous fiscal year.

How much did CyberCatch's (CYBHF) revenue grow in the six months ending January 31, 2024?

CyberCatch's gross revenues increased by 245.8% for the six months ending January 31, 2024, compared to the same period in the previous year.

What factors are driving CyberCatch's (CYBHF) revenue growth?

CyberCatch's revenue growth is driven by increasing global cyber-attacks on corporations, SMEs, and governments, leading to higher adoption of their AI-enabled SaaS cybersecurity solution.

What is CyberCatch's (CYBHF) current position in the market according to their CEO?

According to CEO Sai Huda, CyberCatch has successfully moved from concept to development, achieved product-market fit, and is positioned to scale for significant growth in the coming months and new fiscal year.