Data443 Risk Mitigation Inc Stock Price, News & Analysis

Data443 Risk Mitigation, Inc. (OTCPK: ATDS) has announced an update to its Ransomware Recovery Manager (RRM) product, enhancing features for faster recovery from ransomware attacks. Notably, RRM is recognized as the only industry-guaranteed full device recovery platform, allowing users to restore their devices through a simple reboot. The software has received accolades, including the designation of "Best for Inexpensive Protection" by PC Magazine.

New updates include improved compatibility with recent hacking threats, optimized data restore activities, and advanced threat detection capabilities to mitigate ransomware damage. It supports Microsoft Windows 11 and various virtualization platforms. Existing customers can upgrade for free. The updates aim to address the rising trend of ransomware attacks, which have surged by nearly 13% according to Verizon's latest report.

Deal Brings $483K in Additional ARR, More Organic Growth

Data443 Risk Mitigation, Inc. (OTCPK: ATDS) announced a new contract with a major U.S. bank, contributing an additional $483,788 to its annual recurring revenue (ARR). The bank will expand its use of Data443's secure file transport platform for intra-bank and federal reserve data interchanges, leveraging a 100% uptime record and efficient cost-per-transaction. In light of increasing ransomware threats, Data443's solutions stand out for their secure code implementations and robust infrastructure. CEO Jason Remillard emphasizes the importance of ransomware recovery capabilities in today's market, indicating strong demand for their services. The company continues to focus on multi-cloud environments, providing significant cost efficiencies and enhanced disaster recovery options for clients.

Data443 Risk Mitigation (OTCPK: ATDS) has secured a contract renewal worth $220,000 in Annual Recurring Revenue from a longstanding multinational fintech client. This company, which facilitates payment technology, processes over 10 million sensitive files annually for numerous partners. The renewal underlines Data443's commitment to data security and its ability to deliver strong Managed File Transfer (MFT) solutions.

CEO Jason Remillard highlighted the importance of flexible pricing to boost innovation and reduce cost barriers for clients. The contract renewal reflects a trend of increasing client satisfaction and recurring revenue. Data443 aims to grow its presence in the MFTPaaS market, which is rapidly expanding due to rising security demands.

Data443 Risk Mitigation (OTCPK: ATDS) announced a contract win with a leading global fintech client, adding $179,202 Annual Recurring Revenue (ARR) with options for increased consumption. The client processes over 75 billion transactions annually, totaling more than $9 trillion. Data443 has maintained a partnership with the client for over 15 years, providing enterprise file transfer services. The company is focused on secure data handling, leveraging cloud-based architectures and meeting the growing demand for managed file transfer platforms. Challenges include competition from integration platform-as-a-service and potential market exits among pure-play providers. CEO Jason Remillard notes a rising need for these capabilities across industries, not limited to fintech.

Data443 Risk Mitigation, Inc. (OTCPK: ATDS) has been recognized by PC Magazine for its Ransomware Recovery Manager (RRM), naming it ‘Best of Inexpensive Protection’ and ‘Best for Kiosks’ in the 2023 ransomware protection rankings. RRM builds on the success of its Antivirus Protection Manager (APM), which received the VB100 Certification for quality. Jason Remillard, CEO, emphasized the product’s unique capability to restore devices with a simple reboot, addressing growing cybersecurity threats. The company aims to enhance its solutions continuously, leveraging partnerships and extensive data sensitivity patterns to serve over 400,000 installations globally.

Data443 Risk Mitigation, Inc. (OTC: ATDS) provides an update on its proposed uplisting to The Nasdaq Capital Market. Following the filing of its Annual Report on Form 10-K for the fiscal year ending December 31, 2022, the company will no longer be subject to Nasdaq's higher seasoning price compliance. Currently, it must maintain a closing bid of at least $4.00 for 30 of 60 days prior to its initial listing application. The CEO expresses optimism that the uplist will enhance the company's profile in cybersecurity and data management, thereby supporting funding and growth strategies.