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Safe-T Group Ltd. (SFET) reported record financial results for Q3 2021, with revenues reaching $3.38 million, up 137% from Q3 2020. Gross profit increased to $1.78 million, a 108% growth year-over-year. Cash and equivalents decreased to $12.95 million due to a $3.7 million payment for the acquisition of CyberKick Ltd. The company remains optimistic about its growth strategy in cybersecurity and privacy technology, highlighting performance in the U.S. and Western Europe. However, IFRS net loss increased to $3.72 million for the quarter, up from $1.29 million in Q3 2020.
Safe-T Group Ltd. (Nasdaq: SFET) has launched a new corporate and investor relations website, aimed at enhancing investor transparency and engagement. The site features updated functionality, easy access to financial information, corporate news, and email alerts for timely updates. CEO Shachar Daniel emphasized the site’s role in clearly communicating the company's mission in the cybersecurity space and supporting its aggressive growth plans. The new platform underscores Safe-T's commitment to privacy and cybersecurity solutions for consumers and enterprises.
Safe-T Group Ltd. (NASDAQ: SFET) will release its third quarter financial results for 2021 on November 30, prior to market opening. CEO Shachar Daniel and CFO Shai Avnit will present the results during a conference call at 09:00 a.m. ET, which will include a Q&A session. Safe-T Group specializes in cyber-security and privacy solutions tailored for consumers and enterprises. The call will be accessible via phone and online, with a replay available until December 30, 2021.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) will present virtually at the Ladenburg Thalmann Virtual Technology Expo on November 18, 2021, at 11:00 AM ET. CEO Shachar Daniel leads the presentation, highlighting the company's cybersecurity and privacy solutions. The Expo features around 50 tech companies discussing various sectors including cybersecurity, cloud software, and AI. Investors can register for the presentation and request one-on-one meetings through the event website. Safe-T specializes in tailored cybersecurity solutions for both consumers and enterprises.
Safe-T Group Ltd. (Nasdaq: SFET) has developed an advanced anti-ransomware protective layer for its iShield™ product, aimed at consumers and small to midsized businesses (SMBs). This new feature addresses common ransomware threats like social engineering and malware. The company emphasizes its commitment to enhancing cybersecurity for its customers. Notably, SonicWall reported over 495 million ransomware attacks in the past year, marking 2021 as a record year for such incidents. Cybersecurity Ventures estimates the cost of ransomware attacks could reach $265 billion annually by 2031.
Safe-T Group Ltd. (Nasdaq: SFET) announced a purchase order for its Data Collection-as-a-Service (DCaaS) solution from a global data services company in Israel. The initial project value is $180,000, with potential annual revenue of $500,000. The global data collection market is projected to grow from $1.6 billion in 2021 to $8.21 billion by 2028, a CAGR of 25.6%. Safe-T's DCaaS solution enables enterprises to gather public web data at scale, addressing diverse use cases like e-commerce and market research, while enhancing competitive advantages.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) announced estimated revenues exceeding $3.2 million for Q3 2021, representing a 125% increase from $1.4 million in Q3 2020. For the nine months ending September 30, 2021, revenues are projected to surpass $6.3 million, up from $3.6 million in the same period of 2020. This growth includes initial contributions from the recent acquisition of CyberKick Ltd. on July 4, 2021. The company plans to release full financial statements by November 30, 2021.
Safe-T Group Ltd. (Nasdaq: SFET) has completed the development of iShield™, a new cybersecurity product aimed at protecting consumers and small to mid-sized businesses from online threats. Set to launch in early 2022, iShield™ will utilize a subscription-based pricing model, offering features like data protection, encrypted browsing, and web footprint control. CEO Shachar Daniel emphasized the product's significance in enhancing Safe-T's cybersecurity portfolio. This development responds to the growing need for enterprise-grade solutions among smaller organizations.
Safe-T Group Ltd. (NASDAQ: SFET) has announced a 40-for-1 reverse split of its ordinary shares, approved by shareholders on September 19, 2021. This split will take effect on the Nasdaq Capital Market on October 15, 2021, and on the Tel-Aviv Stock Exchange on October 17, 2021. Following the split, the total number of authorized ordinary shares will reduce from 3 billion to 75 million. The reverse split does not affect shareholder ownership percentages but adjusts the underlying shares of American Depositary Shares (ADSs) from 40 to 1.
Safe-T Group Ltd. (NASDAQ: SFET) has enhanced its partnership with Thales to launch a new Zero Trust Access solution that combines Safe-T’s ZoneZero® with Thales’ SafeNet Trusted Access. This innovative solution addresses the growing demand for secure remote access, particularly in the wake of increasing remote work due to COVID-19. The companies will present this joint solution at the Thales Trusted Access Summit from October 5-6, 2021. The collaboration emphasizes the 'never trust, always verify' approach to enhance security for enterprises.
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