Data443 Risk Mitigation, Inc. reports developments across data security, privacy software, threat intelligence, and infrastructure supporting secure data across devices, databases, networks, cloud environments, and data in transit. Company news has covered the TacitRed™ external attack surface management and threat intelligence platform, integration with Cyren Threat Intelligence Services, Data Placement Manager for HPE NonStop, and ClassiForAI (CAFAI) capabilities for AI and large-language-model data governance.
Recurring updates also include customer deployments, cyber insurance risk-intelligence licensing, data center capacity arrangements, blockchain ledger validation activity, acquisitions that expand the security portfolio, and operating expense rationalization tied to the company’s software and services model.
Data443 Risk Mitigation, a data security and privacy software leader (OTCPK: ATDS), announced a significant engagement with a national self-regulatory organization in the financial market. Their Data Archive Manager platform, based on HPE hardware, can manage extensive datasets while ensuring compliance with privacy and legislative demands. This platform supports more than 1,900 file types and meets escalating customer needs for data migration, as demand for storage sizes has surged from 10TB to requests as high as 9,000TB. Data443 also emphasizes their offerings in cloud services across various platforms.
Data443 (OTCPK: ATDS) announced its intent to acquire certain assets of Centurion Technologies, a leader in ransomware protection and workstation security. This strategic acquisition aims to integrate Centurion's patented technology, including Reboot/Restore, enhancing Data443's data security offerings. The deal is expected to close alongside a major market uplist, capitalizing on the growing ransomware threat, which is the top cyber risk for businesses in 2021. The financial details of the transaction remain undisclosed, but it is anticipated to add significant intellectual property and a robust customer base.
Data443 Risk Mitigation (OTCPK: ATDS) reported a 70% revenue increase for the first half of 2021, totaling $1.6 million, compared to $944,000 in 2020. The company's customer retention rate remains high at over 98%. Notable achievements include new contracts with a major global merchant and a Fortune 500 FinTech firm. Additionally, general and administrative expenses decreased by 11%, totaling $2.7 million. However, the company continues to report a net loss of $3.7 million, a significant reduction from last year's loss.
Data443 Risk Mitigation, Inc. (OTCPK: ATDS - ATDSD) will be a virtual sponsor at Black Hat USA 2021 on August 4-5. The company plans to showcase its cybersecurity solutions, particularly focusing on its ransomware recovery capabilities. CEO Jason Remillard expresses optimism about connecting with over 10,000 prospects in Q3 and Q4. Attendees can schedule meetings with the Data443 team and enter raffles for prizes. More information can be found on the Data443 website.
Data443 Risk Mitigation reported a contract extension for its Sensitive Content Manager™ platform with the Pittsburgh Steelers, enhancing data security for sensitive team materials. The platform ensures secure access to confidential documents including health records, game reviews, and playbooks. Both Data443's CEO and the Steelers' VP of Technology praised the partnership's value and effectiveness, especially during the pandemic. This collaboration underlines Data443's commitment to data security in sports and positions it as a leading provider in the industry.
Data443 Risk Mitigation announces a successful contract extension for its Access Control Manager™ platform with a major client in the cable and internet sector. The platform, known for its passwordless and fine-grained access controls, will expand functionality across more cloud service providers in 2021. With an expected passwordless authentication market of $456.79 billion by 2030, Data443 aims to solidify its position in the sector. The company's CEO emphasizes the value their technology provides to customers, signaling strong growth potential.
Data443 Risk Mitigation, Inc. (OTCPK: ATDSD - ATDS) announced a significant contract win with a Fortune 500 FinTech company, solidifying its position in the data security sector. This multi-year agreement, valued at over six figures annually, underscores the company's growing trust among large multinational firms. Following a recent reverse stock split, Data443 aims for a major market uplist, further enhancing its business strategy. CEO Jason Remillard emphasized the importance of data security in facilitating critical financial transactions across numerous partners.
Data443 Risk Mitigation announced a 1-for-2,000 Reverse Stock Split effective July 1, 2021. The split reduces the company's outstanding shares from approximately 1.48 billion to about 741,945 shares. As per FINRA guidelines, the stock symbol will temporarily change to ATDSD for 20 business days before reverting to ATDS. CEO Jason Remillard expressed that this strategic move aims to make the stock more attractive and prepare the company for future growth, including a national stock exchange application.
Data443 Risk Mitigation (OTCPK: ATDS) announced an enhanced product bundle aimed at combating ransomware threats. The highlight includes the Data443 Ransomware Recovery Manager™, which uniquely protects and recovers sensitive data on infected devices. This bundle, starting at $69/user, combines three key products: Data443 Data Identification Manager™, Data443 Sensitive Content Manager™, and the Ransomware Recovery Manager™. As cyber threats escalate, this suite not only mitigates risks but also ensures compliance, offering businesses a comprehensive solution to safeguard their data and infrastructure.
Data443 Risk Mitigation has reported a robust Q1 2021, with total revenues soaring to $838,000, up 75% from $478,000 in Q1 2020. The company signed significant contracts, including a partnership with a major global merchant and a collaboration with Actian Corporation. They launched the Ransomware Recovery Manager, enhancing their product suite. Notably, Data443 retired over $10 million in derivative liabilities, strengthening its balance sheet. Despite a net loss of $2.18 million, a vast improvement from $10.18 million a year prior, the company remains optimistic about growth and client demand in a post-pandemic environment.