CYRN - CYRN STOCK NEWS

Cyren (NASDAQ:CYRN) announced that John B. Sanfilippo and Son, Inc. (JBSS), a major global nut producer, has chosen Cyren Inbox Security to enhance its cybersecurity measures in response to escalating ransomware threats and evolving insurance requirements. The solution was deployed in under 10 minutes, significantly reducing phishing and Business Email Compromise (BEC) threats. JBSS's security team reported improved productivity and less time on email threat management, highlighting the effectiveness of Cyren's offerings in bolstering their defenses against cyberattacks.

Cyren (NASDAQ:CYRN) announced the divestment of its legacy Secure Email Gateway business to Content Services Group GmbH for €10,000,000 in cash, expected to close by August 31, 2022. This move aligns with Cyren's strategy to focus on high-growth opportunities, particularly its Cyren Inbox Security and Threat Intelligence Services. The proceeds will bolster its balance sheet and support growth-related investments. Customers will not experience service disruptions during the transition.

Cyren (NASDAQ:CYRN) announced its first-quarter 2022 results, revealing revenues of $7.3 million, down from $8.8 million in Q1 2021. The net loss increased to $6.5 million compared to $4.2 million a year prior. Despite these declines, the company reported a remarkable growth in its anti-phishing business, with Annual Recurring Revenue (ARR) up 111% year-over-year. The cash flow from operating activities improved, showing a positive $2.4 million after a $5.3 million usage in the previous year, supported by significant multi-million dollar prepayments from key customers.

Cyren (NASDAQ:CYRN) announced the adoption of its Inbox Security solution by Fisher Jones Greenwood LLP (FJG) to enhance protection against targeted cyber threats, including business email compromise and credential harvesting. FJG, a UK law firm, implemented Cyren's AI-based detection capability to improve email security, allowing for better visibility into attack attempts. With this partnership, both companies aim to mitigate risks associated with sophisticated phishing attacks, thereby safeguarding sensitive transactions within FJG's operations.

Cyren (NASDAQ:CYRN) will release its first quarter financial results on May 16, 2022, after U.S. markets close. A conference call is scheduled for 4:30 p.m. Eastern Time, where stakeholders can listen live via Cyren's investor relations website. The call will also be available for replay until May 30, 2022. Cyren provides cloud security solutions trusted by over 1.3 billion users globally, offering rapid threat detection and email security solutions. For more details, visit ir.cyren.com.

Cyren (NASDAQ:CYRN) released its 2022 Benchmarking Survey, revealing that 89% of Microsoft Office 365 users faced cyber threats. The study by Osterman Research highlighted a doubling in successful email breaches, averaging 21.6 breaches per organization compared to 11.3 in 2019. Each breach costs US organizations around $311,154 annually. Phishing remains the most common attack, impacting 69% of organizations, while Microsoft 365 account takeovers average 14.5 incidents per year. The report underscores the urgent need for enhanced email security solutions.

Cyren (NASDAQ: CYRN) announces that Quintessential Brands has adopted Cyren Inbox Security to mitigate cybersecurity risks linked to email attacks. Despite their existing email security measures, Quintessential Brands faced ongoing phishing threats. The integration of Cyren's solution enhances their Microsoft Office 365 setup by providing real-time threat detection and automated incident response, allowing users to more effectively manage email security. With over 1.3 billion users relying on Cyren’s services, the company aims to deliver robust protection against increasingly sophisticated cyber threats.

Cyren (NASDAQ:CYRN) has launched a competitive replacement program aimed at organizations seeking new anti-virus and anti-malware providers. This program offers technical resources, flexible integration timelines, and customized business terms to facilitate the transition from existing vendors. Cyren's malware detection solutions, which include a software development kit and cloud services, are trusted by major cloud providers. The initiative addresses the urgent need for enhanced security in light of recent global events.

Cyren (NASDAQ:CYRN) reported its fourth quarter and full year 2021 results, revealing a year-over-year revenue decline of 14% to $31.2 million. In Q4 2021, revenues were $7.4 million, down from $8.4 million in Q4 2020. Despite this, the company noted a significant 87% growth in Annual Recurring Revenue (ARR) from its anti-phishing product, Cyren Inbox Security. GAAP net loss grew to $23 million for 2021, with a loss per share of $5.90. The company also made strides in compliance with Nasdaq listing rules and conducted a private placement to bolster working capital.