Welcome to our dedicated page for Hub Cyber Security Israel news (Ticker: HUBC), a resource for investors and traders seeking the latest updates and insights on Hub Cyber Security Israel stock.
Hub Cyber Security Israel Ltd (NASDAQ: HUBC) delivers cutting-edge cybersecurity solutions and confidential computing technologies to protect sensitive data across global enterprises. This dedicated news hub provides investors and industry professionals with timely updates on strategic developments, financial milestones, and technological breakthroughs shaping the company’s trajectory.
Access authoritative information on HUBC’s product innovations, service expansions, and partnership announcements. The curated collection includes earnings reports, acquisition updates, and expert analyses of emerging cybersecurity trends relevant to the company’s operations. Regular updates ensure stakeholders stay informed about risk management initiatives and advancements in data fabric technologies.
Discover press releases detailing HUBC’s professional services enhancements and technology deployments across government and commercial sectors. Content is organized to help users efficiently track the company’s progress in confidential computing and system integration projects. Bookmark this page for centralized access to verified updates about HUBC’s global cybersecurity initiatives and quality assurance protocols.
HUB Security (NASDAQ: HUBC), a leading cybersecurity and advanced data fabric solutions provider, has announced its participation in The ThinkEquity Conference on October 30, 2024, at the Mandarin Oriental Hotel in New York. CEO Noah Hershcoviz will deliver a presentation at 11:00 ET and conduct one-on-one investor meetings throughout the day. The conference brings together institutional investors, corporate clients, and industry professionals to showcase innovations and financial strategies. The company aims to highlight its advancements in secured data fabric and connect with investors who share their vision for digital security.
HUB Cyber Security (Nasdaq: HUBC) has received notification from Nasdaq regarding non-compliance with the Total Assets and Total Revenue Requirement. The company's total assets and revenue for the most recent fiscal year and two of the last three fiscal years fell below the $50 million threshold required for continued listing on The Nasdaq Global Market.
HUBC has until October 7, 2024, to submit a Compliance Plan to Nasdaq. If accepted, the company may receive an extension until February 19, 2025, to regain compliance. The notification does not immediately affect HUBC's listing, and its shares continue to trade under the symbol 'HUBC'. The company is exploring options to address the compliance issue.
HUB Security (NASDAQ: HUBC) has formalized its collaboration with Blackswan Technologies (BST) to lead the Secured Data Fabric (SDF) market. Key points include:
- HUB has an exclusive option to acquire BST by August 22, 2025
- The partnership focuses on co-developing and showcasing innovative SDF solutions
- Current collaboration involves a €20 million deal with Western European banks
- Integration of BST's data fabric with HUB's security systems aims to reduce data management and security costs by over 30% for large financial institutions and government entities
- The solution eliminates costly ETL and unnecessary data-lake expenses
This partnership is expected to drive innovation in major financial institutions and enhance overall security capabilities in the rapidly growing SDF market.
HUB Cyber Security (NASDAQ: HUBC) has successfully completed a $3.3 million private placement from non-U.S. investors. The investment is in the form of convertible notes with a conversion price of $0.70 per share, accompanied by warrants with an exercise price of $1.00 per share. Simultaneously, HUB Security is in discussions to extend the maturity date of a $4.0 million principal note originally due in August 2024. CEO Noah Hershcoviz stated that this capital will enable the company to advance growth initiatives and expand market presence. HUB Security specializes in developing confidential computing cybersecurity solutions and advanced data fabric.
HUB Security (NASDAQ: HUBC) reported its fiscal 2023 financial results, marking a new chapter with new leadership and strategic moves. Key highlights include:
- Revenue of $42.6 million
- Gross profit of $750K
- Operating loss of $(77.7) million
- Adjusted EBITDA loss of $(12.2) million
- Cash and equivalents of $5.2 million as of December 31, 2023
The company recorded a non-cash impairment charge of $15.3 million due to macroeconomic factors. CEO Noah Hershcoviz highlighted strategic collaborations, debt reduction, and positioning in the secured data fabric market as key developments. HUB Security aims to expedite reporting for H1 2024 and plans a conference call to discuss future plans.
HUB Security (Nasdaq: HUBC) has received a notification from Nasdaq indicating non-compliance with the minimum bid price requirement. The company's stock has closed below $1.00 per share for 30 consecutive business days. HUB has been given an initial 180-calendar day period, ending on January 13, 2025, to regain compliance.
To meet the requirement, HUBC's closing bid price must be at least $1.00 for a minimum of 10 consecutive business days. If compliance is not achieved within this period, HUB may be eligible for an additional 180-day compliance period, subject to meeting certain conditions. Failure to regain compliance could result in delisting from Nasdaq, pending an appeal.
The company's business operations remain unaffected by this notification, and HUB intends to monitor its stock price and consider options to regain compliance.
Hub Security (NASDAQ: HUBC) has announced a successful $15 million refinancing and capital raising initiative. This includes the restructuring of $8 million in existing debt, securing an extra $2 million in new debt, and raising $5 million through key shareholders exercising warrants at $0.90 per share. According to CEO Noah Hershcoviz, these financial steps indicate strong investor confidence and position the company to further enhance its cybersecurity offerings and advance its Secure Data Fabric roadmap.
HUB Cyber Security (NASDAQ: HUBC), a developer of confidential computing cybersecurity solutions, has announced updates on its financial reports and business developments. The company is set to release its annual financial reports in the next few weeks. Recently, HUBC secured two significant deals with governmental entities, showcasing its strategic expansion plans. Additionally, the company anticipates considerable progress in its secure data fabric vertical by the end of the next quarter. These developments underline HUBC's commitment to enhancing its cybersecurity offerings.
HUB Cyber Security (NASDAQ: HUBC) has announced progress in settling a $12 million dispute with Oppenheimer & Co. The dispute involves unpaid fees for services related to a SPAC merger. The company states that negotiations are advancing positively towards a resolution.
HUB Cyber Security (NASDAQ: HUBC) and BlackSwan Technologies will jointly showcase their advanced Secured Data Fabric (SDF) solution at the Money 20/20 event next week. This premier global gathering focuses on payments and financial services innovation. The SDF solution is designed for secure data access and management across various sectors, including healthcare, government, energy, defense, and finance. The goal is to ensure that sensitive information is accessed securely without compromising confidentiality or integrity. Noah Hershcoviz, CEO of HUB Cyber Security, emphasized the advanced protection and control the SDF solution offers over sensitive data.
