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Safe-T Group Ltd. (Nasdaq: SFET) has unveiled a new enterprise data collection solution aimed at gathering publicly available online data. This Data Collection-as-a-Service (DCaaS) will enable businesses to collect large volumes of data efficiently from any public website, enhancing decision-making capabilities. Utilizing a robust API, the service promises a 100% success rate without complex web crawlers. The global data collection market is projected to grow from $1.6 billion in 2021 to $8.21 billion by 2028, indicating a 25.6% CAGR. This move positions Safe-T as a contender in a rapidly expanding market.
Safe-T Group Ltd. (SFET) reported a 66% increase in Q2 2021 revenues, reaching $1,784,000 compared to $1,077,000 in Q2 2020. For H1 2021, revenues totaled $3,131,000, up from $2,165,000 in H1 2020. The company's cash and cash equivalents stood at $19,304,000 at the end of Q2. Despite the revenue growth, the company reported a net loss of $2,370,000 for Q2 2021, slightly higher than the $2,227,000 loss in Q2 2020. CEO Shachar Daniel emphasized ongoing investment in cybersecurity solutions and a successful acquisition strategy, which he believes will drive future revenue growth.
Safe-T Group Ltd (NASDAQ: SFET) will release its financial results for Q2 and six-months ending June 30, 2021, on August 26, 2021, before Nasdaq opens. CEO Shachar Daniel and CFO Shai Avnit will discuss the results in a conference call at 8:30 a.m. ET on the same day. The company specializes in cyber-security and privacy solutions tailored for consumers and enterprises. Safe-T operates in three segments: enterprise cyber-security, enterprise privacy, and consumer solutions, ensuring protection against various online threats.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) announced continued progress in its cybersecurity mission, highlighted by the integration of its recent acquisition, CyberKick. The company achieved over $1 million in monthly revenue by July 2021, positioning itself for significant annual growth. The letter also emphasizes the increasing demand for cybersecurity solutions amid rising cyber threats, projected to drive market growth, particularly in the VPN sector, with an estimated CAGR of 12% from 2020 to 2026. Safe-T remains committed to innovation and partnership in the evolving cybersecurity landscape.
Safe-T Group Ltd. (NASDAQ: SFET) estimates revenues between $1.62 million and $1.78 million for the quarter ending June 30, 2021, reflecting a significant growth of 50% to 65% compared to the same period in 2020. For the six-month period, revenues are expected to range from $2.97 million to $3.13 million, up from $2.16 million in 2020. This growth is attributed to strong organic performance and strategic acquisitions, including CyberKick Ltd. Full financial results are expected by August 31, 2021.
Safe-T Group Ltd. (Nasdaq: SFET) announced its acquisition of CyberKick Ltd., a SaaS provider of cybersecurity tools, for a total of $9.3 million partly payable in cash and equity. The deal, expected to close next week, aims to enhance Safe-T's secure access portfolio and expand its market presence in consumer cybersecurity. CyberKick reported approximately $4.2 million in revenue in 2020 and was profitable. The acquisition will support Safe-T's strategic growth in cybersecurity, leveraging CyberKick's established infrastructure and product offerings.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) has announced a new partnership with ELCA Informatique SA, Switzerland's largest independent IT consultancy, to broaden its reach in the Swiss market. ELCA will offer Safe-T's ZoneZero® ZTNA solutions to enterprise clients across various sectors, including financial services and healthcare. The partnership aims to enhance security measures for clients while promoting Safe-T’s zero-trust framework. ELCA’s reputation and extensive network are expected to facilitate Safe-T's expansion in Switzerland.
Safe-T Group Ltd. (Nasdaq: SFET) announces its participation in GISEC 2021, a leading cybersecurity exhibition in Dubai from May 31 to June 2, 2021. Co-Founder Eitan Bremler will lead a session on combating cyber threats. As a sponsor and exhibitor, Safe-T will showcase its ZoneZero® Zero Trust Network Access solution, targeting a global audience of cybersecurity professionals. GISEC 2021 is notable for featuring over 150 brands and 200 industry leaders discussing cybersecurity strategies across various sectors.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) announced its participation in the 2021 LD Micro Invitational XI, scheduled for June 8-10, 2021.
CEO Shachar Daniel will present on June 10 at 3:30 pm ET, discussing key developments including a partnership with Philemon Security, inclusion in NASA's procurement contract, GSA registration, and NetNut's new IP Proxy platform. The company will also share its Q1 2021 financial results.
Conference Access: Webcast can be accessed here.
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