Cybeats Technologies Corp. provides software supply-chain security technology focused on Software Bill of Material, or SBOM, management and software supply-chain intelligence. Company news commonly covers operating and financial results, customer contracts, and demand tied to regulatory requirements for software transparency and compliance in regulated markets.
Recurring developments include healthcare and medical device manufacturer contracts, expansion into automotive software supply-chain risk management, board and governance updates, and capital-structure actions such as convertible debenture amendments. News also addresses how Cybeats positions its platform for SBOM data exchange, compliance workflows, and risk management across enterprise software environments.
Cybeats Technologies Corp. (CSE: CYBT, OTCQB: CYBCF) has provided an update on its default status following previous announcements on April 18, April 30, May 15, and May 28, 2024. The company has not yet filed its annual financial statements and management discussion for the year ending December 31, 2023, which were due by April 29, 2024. Cybeats plans to submit these documents by June 30, 2024. If it fails to meet this deadline, Canadian regulatory authorities may impose a cease trade order on its securities. The company will continue to provide bi-weekly updates until the documents are filed.
Cybeats Technologies Corp. (CSE: CYBT, OTCQB: CYBCF) highlights recent commercial successes in the infrastructure sector, showcasing client renewals and expanded contracts. The company boasts a 100% client retention rate and has secured four of the global top 10 companies in the industrial control systems (ICS) sector as clients. These clients include multinational companies with market capitalizations of $130 billion, $60 billion, and $50 billion. New clients include a $30 billion water technology firm and a $20 billion electrical infrastructure company. Cybeats attributes its success to its SBOM Studio, which streamlines vulnerability management from open-source and third-party software, addressing regulatory pressures in U.S. and EU critical infrastructure sectors. The company reports a 144% net revenue retention and high conversion rates on pilot projects. Cybeats continues to lead in ICS cybersecurity, driven by industry standards like NERC CIP, ISA 62443, and Executive Order 14028.
Cybeats Technologies Corp. (CSE: CYBT, OTCQB: CYBCF) has announced a significant SaaS agreement with one of the largest water technology companies in the U.S., which has a market cap of over $30 billion and operates in more than 150 countries. This deal comes amid increasing cyber threats to U.S. water infrastructure, as highlighted by recent warnings from President Joe Biden and the EPA. Cybeats' SBOM Studio software aims to enhance cybersecurity measures by addressing vulnerabilities in software components. The water sector represents a substantial growth opportunity for Cybeats, driven by heightened regulatory focus on cybersecurity and software transparency. Cybeats' solution supports industry needs by providing a comprehensive platform for Software Bill of Materials (SBOM) management.
Cybeats Technologies Corp. (CSE: CYBT, OTCQB: CYBCF) has issued a bi-weekly default status update regarding its failure to file annual financial statements and related disclosures for the year ending December 31, 2023, by the April 29, 2024, deadline. This update follows previous press releases on April 18, April 30, and May 15, 2024. The company anticipates completing these filings by June 30, 2024. If this deadline is not met, Canadian Securities Regulatory Authorities may impose a cease trade order on Cybeats' outstanding securities. The company commits to providing bi-weekly updates as required under National Policy 12-203 until compliance is achieved.
Cybeats Technologies Corp. has joined the U.S. Cybersecurity and Infrastructure Security Agency's 'Secure by Design' initiative, enhancing its commitment to high security standards. This initiative unites industry leaders, including Amazon, Cisco, Google, IBM, Microsoft, and Palo Alto Networks, to elevate cybersecurity across diverse tech sectors. As one of the 68 initial companies to pledge, Cybeats aims to advance enterprise software security by ensuring secure configurations and features like MFA, logging, and SSO are enabled by default. This move aligns Cybeats with CISA's seven key security goals, fostering a culture of transparency and accountability.
Cybeats Technologies Corp. (CSE: CYBT) (OTCQB: CYBCF) recapped its participation at the RSA conference, held in San Francisco from May 6-9, 2024. The event emphasized the need for proactive tools to automate and accelerate cyber threat identification, prioritization, and remediation. Cybeats showcased their SBOM Studio which streamlines these processes, making them more efficient.
During the event, Cybeats launched the 'BCA Marketplace,' a platform designed to simplify the purchasing process for Binary Composition Analysis and SBOM tools, ensuring rapid compliance with industry standards. The company also co-hosted its 3rd annual 'SBOM Meetup,' engaging with technology executives to discuss AI, security, and software transparency, leading to several commercial leads.
With regulatory bodies like CISA, NIST, FDA, and the EU driving market needs, Cybeats believes it is well-positioned to meet these challenges and anticipates high demand for its innovative solutions.
Cybeats Technologies provided an update regarding its default status as per the National Policy 12-203 guidelines. The company confirmed it had not filed its 2023 annual financial statements and related documents by the April 29, 2024 deadline. Cybeats anticipates completing these filings before June 30, 2024. The company will continue bi-weekly updates until compliance is achieved. If the documents are not filed by this date, the Canadian Securities Regulatory Authorities may impose a cease trade order on Cybeats' securities. No other material changes were reported.
Cybeats Technologies Corp. unveils their new BCA Marketplace at RSAC 2024, a hub for leading cybersecurity solutions. The Marketplace aims to simplify the purchasing process for organizations by offering high-quality SBOM generation tools in one centralized location. This initiative will help users fast-track compliance with leading BCA vendors joining the community. Cybeats also introduces a second product to strengthen ties with cybersecurity vendors and streamline access to customer needs.
Cybeats Technologies Corp. provides a corporate update showcasing significant commercial delivery and strategic positioning to capitalize on sector growth. The company has achieved 100% client retention, 144% net revenue retention, 322% revenue growth to $2.1M ARR, zero client churn, and high conversion rates on pilot projects. Cybeats has secured top clients in ICS, medical device manufacturing, and the EU telecom market. The SBOM Studio product offers a comprehensive solution to address cybersecurity challenges and operational demands, revolutionizing vulnerability handling for modern applications.
Cybeats Technologies Corp. announces that it has been granted a management cease trade order (MCTO) by the Ontario Securities Commission due to the delay in filing its annual audited financial statements. The company expects to file the required documents by June 30, 2024, and will issue bi-weekly default status reports until then. Cybeats confirms its compliance with alternative information guidelines and that it is not undergoing insolvency proceedings.