sfet - SFET STOCK NEWS

Safe-T Group Ltd. (NASDAQ: SFET) announced the dismissal of a patent infringement lawsuit initiated by Bright Data Ltd. against its subsidiary NetNut Ltd. The settlement includes a mutual release of claims with no monetary compensation involved, allowing NetNut to continue its operations without disruption. This resolution is projected to significantly reduce the company's administrative expenses starting in Q3 2022, with potential operating losses decreasing by over 50% in the previous year. The agreement aids Safe-T in refocusing on technology development and business growth.

Safe-T Group Ltd. (Nasdaq: SFET) announced a strategic transition towards consumer cybersecurity, emphasizing impressive growth amid market volatility. Revenues for Q1 2022 are projected at approximately $4 million, representing a 200% increase. This shift to a subscription model is expected to create predictable cash flows, driven by the successful acquisition of around 15,000 new subscribers. Safe-T aims for a $50 million revenue target by 2025, reinforcing its commitment to both consumer and enterprise markets while partnering with established organizations to enhance growth.

Safe-T Group Ltd. (Nasdaq: SFET) announced preliminary revenue guidance of approximately $4 million for Q1 2022, up from $1.4 million in Q1 2021. This growth is attributed to increased consumer product subscriptions and enterprise privacy solutions. CEO Shachar Daniel highlighted successful customer acquisition efforts and the potential for significant future recurring revenue through their Lifetime Value (LTV) model. The company anticipates releasing its fully reviewed financial statements by May 31, 2022.

Safe-T Group Ltd. (Nasdaq, TASE: SFET) reported significant growth for Q4 2021, with revenues reaching $3.77 million, a 191% year-over-year increase. For the full year, revenues totaled $10.28 million, exceeding previous estimates. Gross profit surged by 335% in Q4, amounting to $2.11 million. Despite the strong performance, the company reported a net loss of $4.52 million for Q4 and $13.13 million for the full year. Key growth drivers included the acquisition of CyberKick and increased demand for cybersecurity solutions amid rising geopolitical threats. The company anticipates further growth in 2022.

Safe-T Group Ltd. (NASDAQ, TASE: SFET) will report its financial results for Q4 and the full year 2021 on March 29, 2022, before market opening. CEO Shachar Daniel and CFO Shai Avnit will host a conference call at 08:30 a.m. ET to discuss the results, followed by a Q&A session. Safe-T offers cybersecurity solutions across three segments: enterprise cyber-security, enterprise privacy, and consumer privacy. The conference will be accessible via dial-in or online replay.

Safe-T Group Ltd. (NASDAQ: SFET) has partnered with TerraZone and DreamVPS to launch the Virtual Private Workforce (VPW) cloud service, addressing the surge in demand for secure remote R&D teams. This service supports small and medium-sized businesses (SMBs) by providing virtual infrastructure for software development, ensuring data security and reducing operational costs. Key benefits include immediate deployment of services, reduced data center costs by up to 90%, and enhanced user productivity. The initiative showcases Safe-T's commitment to cybersecurity amidst rising global uncertainties.

Safe-T Group Ltd. (NASDAQ: SFET) has launched the Net Bridge Program, partnering with The Center for Advanced Defense Studies (C4ADS). This initiative aims to provide free access to Safe-T's global IP proxy and data collection technologies to support research addressing issues like human trafficking and environmental degradation. The program reflects Safe-T's commitment to social responsibility and aims to contribute positively to global challenges through academic and nonprofit collaborations.

Safe-T Group Ltd. (NASDAQ: SFET) announced CEO Shachar Daniel will participate in the 34th Annual Roth Conference. The event, scheduled for March 2022, will feature 1-on-1 meetings, fireside chats, thematic panels, and presentations from about 400 companies across various sectors, including technology, healthcare, and sustainability.

To arrange meetings, interested parties can contact oneononerequests@roth.com. More details, including the corporate presentation, are available online.

Safe-T Group Ltd. (NASDAQ: SFET) announced the launch of its new social responsibility initiative, the Net Bridge program, aimed at providing pro-bono services to academic and nonprofit research organizations. Leveraging its advanced IP proxy and data collection technologies, the program will assist in detecting criminal activities, human rights violations, and health-related issues. CEO Shachar Daniel emphasized the company's commitment to supporting impactful organizations. This follows previous initiatives, including free remote access for COVID-19-affected employees.