CYRN - CYRN STOCK NEWS

Cyren (NASDAQ:CYRN) will release its fourth quarter and full year 2020 financial results on February 22, 2021, after market close. A conference call will follow at 4:30 p.m. ET, accessible via dial-ins in the U.S., Israel, and internationally. The call will be webcast live on the investor relations section of Cyren's website.

Cyren aims to provide reliable cloud security solutions for over 1.3 billion users globally, offering services such as threat detection and enterprise email security.

Cyren (NASDAQ:CYRN) announced a registered direct offering of 12,000,000 ordinary shares at $1.15 per share, generating gross proceeds of $13.8 million. The offering is expected to close around February 16, 2021, pending customary conditions. The funds will be utilized for working capital and general corporate purposes, with H.C. Wainwright & Co. serving as the exclusive placement agent. This issuance is supported by an effective shelf registration statement filed with the SEC.

Cyren (NASDAQ:CYRN) announced on February 9, 2021, that Sika Group, a leader in specialty chemicals, has deployed Cyren Inbox Security to 25,000 employees to combat phishing threats. The deployment follows Sika's transition to Microsoft Office 365, where increasing phishing attempts raised security concerns. Cyren Inbox Security integrates seamlessly with Microsoft 365, enhancing detection and response capabilities. Sika's Cyber Defense Team highlighted improved efficiency in mitigating phishing attacks as a key benefit. Cyren offers subscription options for its security solutions.

Cyren (NASDAQ:CYRN) has appointed Kenneth Tarpey as Chief Financial Officer, effective February 1, 2021, succeeding Michael Myshrall, who served for ten years. Tarpey brings over 30 years of financial leadership experience from various technology companies, including Videology and comScore. His expertise in scaling recurring revenue and improving financial profiles is expected to benefit Cyren, particularly during this transition period. Myshrall will assist in ensuring a smooth handover until February 28, 2021.

Cyren (NASDAQ:CYRN) has launched its Cyren Inbox Security solution for Microsoft 365 via the Microsoft Azure Marketplace. This cloud-native email security tool offers continuous monitoring and rapid incident response to combat phishing attacks, a critical concern for enterprises. The solution is easy to implement without requiring changes to existing email configurations. Cyren aims to boost visibility and adoption of its security product, benefiting Microsoft 365 users by providing an effective defense against increasing phishing threats.

Cyren (NASDAQ:CYRN) reported its Q3 2020 results, revealing a year-over-year revenue decline to $9.1 million from $9.5 million, primarily due to the phase-out of legacy products. The GAAP net loss widened to $4.9 million, compared to a $3.5 million loss in Q3 2019. Operating cash usage increased significantly to $3.6 million. Despite these challenges, Cyren's next-gen email security product, Cyren Inbox Security, has gained traction, securing new enterprise clients. The company ended the quarter with $12.9 million in cash and cash equivalents.

Cyren (NASDAQ:CYRN) will announce its third quarter 2020 results on November 16, 2020, post U.S. market closure. A conference call will follow at 4:30 p.m. ET, accessible via the company's investor relations website and by telephone. The U.S. dial-in is 1-877-407-0312, while international callers can reach 1-201-389-0899. A replay of the call will be available until November 30, 2020. Founded to serve over 1.3 billion users, Cyren specializes in cloud security solutions to combat cyber threats.

Cyren (NASDAQ:CYRN) has been recognized as a representative vendor in Gartner's 2020 Market Guide for Email Security, highlighting its innovative Inbox Security solution for Microsoft 365. Notably, the report indicates a significant rise in phishing attacks, prompting organizations to enhance their email security measures. By 2023, it is expected that 40% of organizations will depend on built-in protections from cloud providers. Cyren's solution integrates directly with Microsoft, providing advanced protection against phishing and Business Email Compromise (BEC) attacks.

Cyren (NASDAQ:CYRN) has announced the launch of a 24x7 Incident Response Service integrated with its Cyren Inbox Security, aimed at enhancing phishing defense for Microsoft 365 users. With over 50,000 subscribers and more than 15 million emails analyzed weekly, this service alleviates pressure on IT teams by providing expert support for phishing incidents. Cyren's solutions are designed for ease of integration without requiring hardware or software changes. This launch comes amid a surge in phishing attacks due to increased remote work.