SideChannel Inc. Announces $2M in New Revenue, Restructures to Meet Business Demand

Rhea-AI Summary

SideChannel Inc. (OTCQB:SDCH) has announced new annualized revenue of $2.0 million from subscribers signed this fiscal year. The firm, which provides cybersecurity tools and services, is experiencing increasing demand, prompting the expansion of its service delivery team. In a strategic move, Trent Bowling has been promoted to SVP of Sales, while David Chasteen transitions from his role as EVP of Sales and Marketing to focus on the product and services team. This restructuring is designed to enhance client service. The firm previously reported a 48% year-over-year revenue growth for the quarter ending December 31, 2022, with total revenue for the trailing twelve months at $5.3 million. For further information on strategic priorities and updates, a replay of the recent Investor Day is available.

Positive

• New annualized revenue of $2.0 million from new subscribers this fiscal year.
• Promoting Trent Bowling to SVP of Sales aligns with company growth and service delivery.
• Reported a 48% year-over-year revenue growth for the quarter ending December 31, 2022.

Negative

• None.

The company moves former EVP of Sales & Marketing, David Chasteen to product and services team to expand capacity, promotes Trent Bowling to SVP of Sales

WORCESTER, MA / ACCESSWIRE / April 26, 2023 / SideChannel Inc. (OTCQB:SDCH) announces total new annualized revenue for subscribers signed this fiscal year of $2.0 million dollars.

The provider of cybersecurity tools and services reports an increasing number of clients that require an expanded service delivery team. To meet the demand, the firm continues to grow the team of principal consultants, and is altering the structure of its executive team to better serve its clients.

Trent Bowling is promoted to senior vice president of sales. David Chasteen, former executive vice president of sales and marketing is moving away from sales and marketing to serve the growing portfolio of clients. The executive vice presidents, sales, and marketing all report directly to the CEO. The new structure allows the company to cover more ground with the same resources in place.

"I am grateful to our team for their flexibility and commitment to building a great experience for our clients," said CEO Brian Haugli. "I want to thank David Chasteen. David's outstanding contributions have positioned us to grow new functions important to our business. Of course, the reward for good work is more work. Congratulations to Trent Bowling, who now leads a team whose function is critical to our success."

The company previously reported quarterly revenue growth of 48 percent year-over-year, for the for the quarter ended December 31, 2022. Total revenue for the trailing twelve months ended December 31, 2022 was $5.3 million dollars.

SideChannel recently hosted Investor Day where CEO Brian Haugli and CFO Ryan Polk shared strategic priorities, operations updates, and other recent developments. A replay of Investor Day is available at https://bit.ly/sdchinvestorday.

About SideChannel

SideChannel creates top-tier cybersecurity programs for mid-market companies to help protect their assets. SideChannel employs a combination of skilled and experienced talent, technology tools and battle-tested processes to offer SideChannel Complete, a comprehensive suite made for hardening a companies' defenses against cybercrime in its many forms. SideChannel's team of C-suite-level information security officers possess a combined 400+ years of experience in the industry. SideChannel also offers Enclave; a network micro segmentation solution that simplifies securing a network in a zero-trust model. Learn more at sidechannel.com.

Interested investors and shareholders are encouraged to sign up for press releases and industry updates by registering for email alerts at https://investors.sidechannel.com/alerts and by following SideChannel on Twitter and LinkedIn.

Investor Contact

Investor Relations Team
ir@sidechannel.com

SOURCE: SideChannel

View source version on accesswire.com:
https://www.accesswire.com/751482/SideChannel-Inc-Announces-2M-in-New-Revenue-Restructures-to-MeetBusiness-Demand

FAQ

What is the new annualized revenue reported by SideChannel (SDCH)?

SideChannel has reported new annualized revenue of $2.0 million from subscribers signed this fiscal year.

Who was promoted to SVP of Sales at SideChannel (SDCH)?

Trent Bowling has been promoted to Senior Vice President of Sales.

What was the revenue growth for SideChannel (SDCH) for the quarter ended December 31, 2022?

SideChannel reported a 48% year-over-year revenue growth for the quarter ended December 31, 2022.

What changes were made to SideChannel's (SDCH) executive team structure?

David Chasteen moved from EVP of Sales and Marketing to the product and services team, while Trent Bowling was promoted to SVP of Sales.