Welcome to our dedicated page for Hub Cyber Security Ltd. Ordinary Shares news (Ticker: HUBC), a resource for investors and traders seeking the latest updates and insights on Hub Cyber Security Ltd. Ordinary Shares stock.
HUB Cyber Security Ltd. (Nasdaq: HUBC) is a prominent player in the cybersecurity sector, focusing on the development of innovative cyber products and software solutions. Established in 2017 by veterans of elite Israeli Defense Forces' intelligence units, HUB Security has rapidly expanded its footprint across over 30 countries. The company specializes in confidential computing and provides advanced cybersecurity computing appliances along with a broad range of professional cybersecurity services.
HUB Security's core business revolves around creating unique solutions that protect sensitive commercial and government information. One of its flagship offerings is an advanced encrypted computing solution designed to thwart hostile intrusions at the hardware level. Additionally, the company offers a comprehensive suite of data theft prevention tools, ensuring robust protection for its clients.
Recent achievements highlight HUB Security's growing influence and reliability in the market. In February 2024, the company announced a renewed partnership with a subsidiary of a major credit card service provider, securing a six-figure contract to enhance risk management and compliance measures. This demonstrates HUB Security's trusted role in safeguarding critical financial data.
Further solidifying its market position, HUB Security entered a landmark five-year agreement with Blackswan Technologies Ltd., a leading U.S. enterprise-AI vendor. This collaboration aims to provide state-of-the-art transaction monitoring and cyber risk mitigation solutions for a top-tier European bank, reflecting HUB's strategic expansion into the finance sector.
Financially, HUB Security is on solid ground. In April 2024, the company successfully secured $8 million through a straight debt financing arrangement. This influx of capital supports HUB's strategic investments and growth initiatives. Additionally, the company recently acquired QPOINT, a firm with annual revenues exceeding $26 million, adding over 100 top-tier customers to HUB's portfolio.
Despite facing legal challenges from Dominion, HUB Security remains steadfast and committed to defending its reputation and business integrity. The company has filed a counterclaim, showcasing its determination to uphold its business operations and client trust.
HUB Security's client base includes high-profile names such as Rafael Advanced Defense Systems, the developer of Israel's 'Iron Dome,' underscoring the company's capability to deliver critical security solutions at a national level. HUB's commitment to excellence and innovation continues to drive its success and market expansion.
For further information or inquiries, please contact: info@hubsecurity.com
HUB Cyber Security announced they need more time to complete the audit of their annual financial statements and file their Annual Report for the fiscal year ended December 31, 2023. This delay is due to the recent acquisition of QPoint and efforts to finalize debt restructuring. HUB received a notice from Nasdaq indicating non-compliance with listing rules but this does not affect their current listing or trading. HUB has until July 19, 2024, to submit a compliance plan and may receive an extension until November 11, 2024, if Nasdaq approves. HUB remains optimistic about meeting these requirements.
HUB Cyber Security (Nasdaq: HUBC) has been awarded a $2 million contract by the Israel Airports Authority for supervision services and engineering design consultancy. The contract highlights the company's successful integration of recent acquisitions and strategic growth approach.
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