SideChannel Continues Positive Quarterly Cash Flow from Operations
SideChannel (OTCQB:SDCH) reported its financial results for Q3 FY2024, ending June 30, 2024. Key highlights include:
- Q3 revenue of $1.8 million, up 5.5% year-over-year
- Year-to-date revenue of $5.5 million, a 12.1% increase from the previous year
- Q3 gross margin of 48.9%, slightly down from 49.9% in Q3 FY2023
- Operating expenses decreased by 22.0% compared to Q3 FY2023
- Net loss of $146,000 or $0.00 per share
- Cash balance increased to $1.1 million
The company achieved positive cash flow from operations for the second consecutive quarter, attributing this to expense reductions and consistent revenue growth. SideChannel is now investing in sales and marketing, particularly for its Enclave product.
SideChannel (OTCQB:SDCH) ha riportato i risultati finanziari per il terzo trimestre dell'anno fiscale 2024, terminato il 30 giugno 2024. I punti salienti includono:
- Entrate del terzo trimestre di 1,8 milioni di dollari, in aumento del 5,5% rispetto all'anno precedente
- Entrate dall'inizio dell'anno pari a 5,5 milioni di dollari, un incremento del 12,1% rispetto all'anno precedente
- Margine lordo del terzo trimestre del 48,9%, leggermente in calo rispetto al 49,9% del terzo trimestre dell'anno fiscale 2023
- Le spese operative sono diminuite del 22,0% rispetto al terzo trimestre dell'anno fiscale 2023
- Perdita netta di 146.000 dollari, equivalente a 0,00 dollari per azione
- Il saldo di cassa è aumentato a 1,1 milioni di dollari
La società ha raggiunto un flusso di cassa positivo dalle operazioni per il secondo trimestre consecutivo, attribuendo questo risultato alla riduzione delle spese e alla crescita costante delle entrate. SideChannel sta ora investendo in vendite e marketing, in particolare per il suo prodotto Enclave.
SideChannel (OTCQB:SDCH) reportó sus resultados financieros para el tercer trimestre del año fiscal 2024, que finalizó el 30 de junio de 2024. Los aspectos destacados incluyen:
- Ingresos del tercer trimestre de 1,8 millones de dólares, un aumento del 5,5% en comparación con el año anterior
- Ingresos acumulados hasta la fecha de 5,5 millones de dólares, un incremento del 12,1% respecto al año anterior
- Margen bruto del tercer trimestre del 48,9%, ligeramente inferior al 49,9% del tercer trimestre del año fiscal 2023
- Los gastos operativos se redujeron en un 22,0% en comparación con el tercer trimestre del año fiscal 2023
- Pérdida neta de 146,000 dólares o 0,00 dólares por acción
- El saldo de caja aumentó a 1,1 millones de dólares
La empresa logró un flujo de caja positivo de las operaciones por segundo trimestre consecutivo, atribuyendo esto a la reducción de gastos y el crecimiento constante de ingresos. SideChannel ahora está invirtiendo en ventas y marketing, especialmente para su producto Enclave.
사이드채널(SideChannel, OTCQB:SDCH)은 2024 회계연도 3분기 재무 결과를 발표했습니다. 이 결과는 2024년 6월 30일에 종료됩니다. 주요 사항은 다음과 같습니다:
- 3분기 수익 180만 달러, 전년 대비 5.5% 증가
- 올해 누적 수익 550만 달러, 전년 대비 12.1% 증가
- 3분기 총마진 48.9%, 2023 회계연도 3분기 49.9%에서 소폭 하락
- 운영비용은 2023 회계연도 3분기 대비 22.0% 감소
- 순손실 14만 6천 달러, 주당 0.00 달러
- 현금 잔고 110만 달러로 증가
회사는 운영에서 두 번째 연속 분기 동안 긍정적인 현금 흐름을 달성했으며, 이는 비용 절감과 지속적인 수익 증가 덕분이라고 설명했습니다. 사이드채널은 현재 Enclave 제품을 위한 판매 및 마케팅에 투자하고 있습니다.
SideChannel (OTCQB:SDCH) a annoncé ses résultats financiers pour le troisième trimestre de l'exercice 2024, qui s'est terminé le 30 juin 2024. Les points clés incluent:
- Revenus du troisième trimestre de 1,8 million de dollars, en hausse de 5,5% par rapport à l'année précédente
- Revenus cumulés depuis le début de l'année de 5,5 millions de dollars, soit une augmentation de 12,1% par rapport à l'année précédente
- Marge brute du troisième trimestre de 48,9%, légèrement en baisse par rapport à 49,9% au troisième trimestre de l'exercice 2023
- Les charges d'exploitation ont diminué de 22,0% par rapport au troisième trimestre de l'exercice 2023
- Perte nette de 146 000 dollars, soit 0,00 dollar par action
- Solde de trésorerie augmenté à 1,1 million de dollars
L'entreprise a réalisé un flux de trésorerie positif provenant des opérations pour le deuxième trimestre consécutif, attribuant cela à des réductions de coûts et à une croissance continue des revenus. SideChannel investit désormais dans les ventes et le marketing, en particulier pour son produit Enclave.
SideChannel (OTCQB:SDCH) hat seine finanziellen Ergebnisse für das dritte Quartal des Geschäftsjahres 2024, das am 30. Juni 2024 endete, bekannt gegeben. Wichtige Highlights sind:
- Umsatz im dritten Quartal von 1,8 Millionen Dollar, ein Anstieg um 5,5% im Vergleich zum Vorjahr
- Umsatz seit Jahresbeginn von 5,5 Millionen Dollar, ein Anstieg um 12,1% im Vergleich zum Vorjahr
- Bruttomarge im dritten Quartal von 48,9%, leicht gesunken von 49,9% im dritten Quartal des Geschäftsjahres 2023
- Betriebsausgaben um 22,0% im Vergleich zum dritten Quartal des Geschäftsjahres 2023 gesenkt
- Nettoverlust von 146.000 Dollar oder 0,00 Dollar pro Aktie
- Liquiditätsstand auf 1,1 Millionen Dollar erhöht
Das Unternehmen erzielte im zweiten aufeinanderfolgenden Quartal einen positiven Cashflow aus den Betrieben, was auf Kostensenkungen und ein konstantes Umsatzwachstum zurückzuführen ist. SideChannel investiert nun in den Vertrieb und das Marketing, insbesondere für sein Produkt Enclave.
- Q3 revenue increased by 5.5% year-over-year to $1.8 million
- Year-to-date revenue grew 12.1% to $5.5 million
- Operating expenses decreased by 22.0% compared to Q3 FY2023
- Positive cash flow from operations for the second consecutive quarter
- Cash balance increased by $52,000 to $1.1 million
- Q3 revenue decreased 4.2% compared to Q2 FY2024
- Q3 gross margin slightly declined to 48.9% from 49.9% in Q3 FY2023
- Net loss of $146,000 reported for Q3
- Revenue retention rate of 72.3% for the trailing twelve months
Financial results conference call on Wednesday, August 7 @ 4:30 P.M. ET
WORCESTER, MA / ACCESSWIRE / August 7, 2024 / SideChannel, Inc. (OTCQB:SDCH) ("SideChannel"), a leading provider of cybersecurity services and technology to emerging and middle market companies, today announced its financial results for the three and nine months ended June 30, 2024.
Third Quarter Fiscal Year 2024 Highlights
Third quarter revenue of
$1.8 million ;5.5% greater than the third quarter of Fiscal Year ("FY") 2023 and4.2% less than the second quarter of FY 2024.
Year-to-date revenue of
$5.5 million ;12.1% greater than the$4.9 million reported for first nine months of FY 2023.
Third quarter gross margin of
48.9% ; 100 bps lower than the49.9% for the third quarter of FY 2023.
Third quarter operating expenses decreased
$298 thousand , or22.0% , compared to the third quarter of FY 2023.
Third quarter net loss of
$146 thousand or$0.00 per share.
Revenue retention of
72.3% for the trailing twelve months ended June 30, 2024.
Cash increased by
$52 thousand from September 30, 2023 to an ending balance of$1.1 million at June 30, 2024.
Management Comments
Commenting on the fiscal third quarter ended June 30, 2024, Brian Haugli, President and Chief Executive Officer of SideChannel, said, "This is our second consecutive quarter of positive cash flow from operations. The expense reductions we implemented over one year ago, combined with our consistent revenue growth have put us in positive cash flow territory." Haugli continued, "We have begun using a portion of our quarterly cash flow to fund investments in our sales and marketing team, including additional emphasis on Enclave. We are eager to communicate how our novel approach to microsegmentation is proving to be a significantly cost-effective alternative to using hardware."
SideChannel will host a conference call on August 7, 2024, at 4:30 P.M. Eastern Time to discuss its third quarter results and provide an update on the Company's initiatives.
THIRD QUARTER CALL INFORMATION
Date: Wednesday, August 7, 2024, at 4:30 P.M. Eastern Standard Time.
Dial In: Toll Free: 888-506-0062
International: 973-528-0011
Participant Access Code: 756675
A webcast of the call will also be available: https://www.webcaster4.com/Webcast/Page/2071/49679
Participants may register in advance for the call using the webcast link.
The conference call will include management remarks and a live question and answer session. The conference call host will provide participants with instructions for joining the queue to ask questions at the conclusion of management remarks. Questions may also be submitted prior to the meeting using ir@sidechannel.com.
Third Quarter 2024 Results
The third quarter Quarterly Report on Form 10-Q is accessible in its entirety at https://investors.sidechannel.com/sec-filings.
About SideChannel
SideChannel helps emerging and mid-market companies protect their assets. Founded in 2019, we deliver comprehensive cybersecurity plans through a series of actions branded SideChannel Complete.
SideChannel deploys a combination of skilled and experienced talent, and technological tools to offer layered defense strategies supported by battle-tested processes. SideChannel also offers Enclave, a network infrastructure platform that eases the journey from zero to zero-trust. Learn more at sidechannel.com.
Investors and shareholders are encouraged to receive to press releases and industry updates by subscribing to the investor email newsletter and following SideChannel on X and LinkedIn.
You may contact us at:
SideChannel
146 Main Street, Suite 405
Worcester, MA 01608
Investor Contact
Ryan Polk
ir@sidechannel.com
Forward-Looking Statements
This press release may contain forward-looking statements, including information about management's view of SideChannel's future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes", "hopes", "expects", "intends", "plans", "anticipates", "potential", "could", "should" or "may", and similar conditional expressions are intended to identify forward-looking statements. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause SideChannel's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. These risk factors include, but are not limited to: that we have incurred net losses since inception, our need for additional funding, the substantial doubt about our ability to continue as a going concern, and the terms of any future funding we raise; our dependence on current management and our ability to attract and retain qualified employees; competition for our products; our ability to develop and successfully introduce new products, improve current products and innovate; unpredictability in our operating results; our ability to retain existing licensees and add new licensees; our ability to manage our growth; our ability to protect our intellectual property (IP), enforce our IP rights and defend against claims that we infringed on the IP of others; the risk associated with the concentration of our cash in one financial institution at levels above the amount protected by FDIC insurance; and other risk factors included from time to time in documents we file with the Securities and Exchange Commission, including, but not limited to, our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. These reports are available at www.sec.gov.
Other unknown or unpredictable factors also could have material adverse effects that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Further, factors that we do not presently deem material as of the date of this release may become material in the future. The forward-looking statements included in this press release are made only as of the date hereof. SideChannel cannot guarantee future results, levels of activity, performance, or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, SideChannel undertakes no obligation to update these forward-looking statements after the date of this release, except as required by law, nor any obligation to update or correct information prepared by third parties.
SOURCE: SideChannel, Inc.
View the original press release on accesswire.com
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