Absolute Software Corp Stock Price, News & Analysis

Absolute Software (NASDAQ:ABST) announced it will release its first quarter fiscal 2022 financial results on November 9, 2021, after market close. The company will host a conference call at 5:00 p.m. ET to discuss its results and business outlook. Financial statements and management discussions will be available on the company's website and filed on SEDAR and EDGAR. Absolute specializes in Endpoint Resilience solutions, offering a unique security platform embedded in over 500 million devices, providing essential capabilities in a zero-trust environment.

Absolute Software (NASDAQ: ABST) has announced that its NetMotion solution is a recognized leader in the Fall 2021 Grid® Report for Zero Trust Networking, published by G2. The platform scored 4.8 out of 5 based on customer feedback, with 97% of users giving it a 5-star rating. NetMotion excelled in customer satisfaction and quality of service, ranking alongside Zscaler and Pulse Secure. The solution aims to enhance security across various networks while improving user experience, signifying Absolute's commitment towards Endpoint Resilience.

Absolute Software (NASDAQ: ABST) has launched enhanced geolocation capabilities aimed at improving device and data security for enterprises and educational organizations. With increasing remote work, the company's solutions allow IT teams to monitor device locations, identify risks, and ensure compliance with security policies. A Forrester study revealed that 60% of firms are focused on automating data protection and 52% on device geolocation. Absolute’s platform, supporting over 500 million endpoints, aims to balance security needs with user privacy.

Absolute Software has announced significant leadership changes aimed at enhancing its innovation and growth strategy following its acquisition of NetMotion. John Herrema has been appointed Executive Vice President of Product & Strategy, while Joel Windels has been promoted to Chief Marketing Officer. Herrema brings over two decades of experience in enterprise mobility and security, and Windels has previously driven marketing success at NetMotion. The transition follows the departure of Ameer Karim and Sandra Toms, who contributed significantly to the company.

Absolute Software launched the Absolute DataExplorer tool to enhance endpoint data management for IT and security teams. This tool allows organizations to capture critical data aligned with specific business needs, fostering cost savings in device maintenance and compliance assurance. Designed for remote and hybrid work settings, it simplifies data capture and reporting, requiring no advanced coding skills. Initially available for Microsoft Windows, it leverages Absolute's firmware-embedded Persistence capabilities, supporting over 500 million endpoints worldwide.

Absolute Software (NASDAQ:ABST) released its third annual Endpoint Risk Report, revealing challenges K-12 education IT teams face due to increased device use for digital learning. The report shows a 74% surge in deployed devices from 2019 to 2020, with schools now the primary target for ransomware attacks, comprising 57% of reported incidents in late 2020. Key findings indicate that 47% of devices were located over 25 miles from schools, and only 53% of antivirus applications were effective. The report emphasizes the need for enhanced device management and security in the evolving education landscape.

Absolute Software Corporation (Nasdaq: ABST) reported strong financial results for Q4 and F2021, with Q4 revenue rising 17% to $31.8 million and full-year revenue increasing 15% to $120.8 million. However, the company faced a net loss of $3.0 million in Q4 compared to a profit of $2.2 million in the same quarter last year. The total Annual Recurring Revenue (ARR) reached $123.4 million, a 14% year-over-year growth. Looking ahead, Absolute forecasts adjusted revenue for F2022 between $203 million and $207 million, translating to an estimated growth of 11% to 13%.

Absolute Software Corporation (Nasdaq: ABST) announces the appointment of Andre Mintz to its Board of Directors effective August 5, 2021. Mintz brings over 30 years of experience in information security and cyber risk management. His extensive background includes leadership roles at reputable companies, such as Newport Group and Red Ventures, and positions in law enforcement and the US Air Force. Chairman Daniel Ryan highlighted Mintz's expertise as crucial for driving growth and addressing evolving cybersecurity challenges as the company aims to enhance its Endpoint Resilience solutions.

Absolute Software (NASDAQ: ABST, TSX: ABST), a leader in next generation Endpoint Resilience solutions, will present at the Oppenheimer 24th Annual Technology, Internet & Communications Conference on August 11, 2021, at 1:15 p.m. Eastern time. Additionally, the company will participate in a fireside chat at the Canaccord Genuity 41st Annual Growth Conference on August 12, 2021, at 11:00 a.m. Eastern time. Live webcasts of both events will be hosted on the Absolute Investor Relations website.