Plurilock Sec Stock Price, News & Analysis

Plurilock Security reports Q3 2024 financial results with total revenue of $38.5 million YTD compared to $48.0 million YTD in 2023. Critical Services grew 70% YTD to $3.3 million. Gross profit improved to $5.4 million (14.2% of sales) from $4.9 million (10.3%) YTD 2023. Adjusted EBITDA loss decreased to $(2.7M) from $(3.8M) YTD 2023.

The company secured significant contracts in Q4, including a US$19.3 million deal with an S&P 500 semiconductor company. Revenue and gross margin for the first 10 months of 2024 have already exceeded total figures for 2023, with Q4 2024 expected to outperform Q4 2023.

Plurilock Security has secured a US$1.2 million contract with a NASDAQ-listed semiconductor client for a 9-month period. The Plurilock Critical Services team will implement Zero Trust Architecture, providing comprehensive cybersecurity services including AI-driven solutions and network infrastructure enhancements. The project includes discovery, solution design, implementation, and support phases, focusing on network security policy, threat mitigation, and disaster recovery planning. The contract aligns with Plurilock's margin expansion and 'land-and-expand' strategy, with expenses and gross margin expected to be consistent with previously reported Professional Services figures. Delivery is scheduled to begin in Q4 2024.

Plurilock Security (OTCQB: PLCKF) has announced it will release its financial results for Q3 2024 (three and nine-months ended September 30, 2024) after market close on Tuesday, November 26, 2024. The company will host a live webinar and Q&A session at 4:30 pm ET / 1:30 pm PT on the same day, where CEO Ian L. Paterson and CFO Scott Meyers will review results and provide company updates. A recording and supporting materials will be available on the company's investor website.

Plurilock Security has secured a US$820,000 two-year sales order with a State Law Enforcement Agency through its Aurora Systems Consulting subsidiary. The contract, dated November 13, 2024, will provide Intrusion Detection and Prevention Systems (IDPS) to enhance the agency's cybersecurity infrastructure. The delivery and fulfillment are expected during Q4, 2024, with expenses and gross margin aligning with the Company's historic Solutions Division performance. The IDPS will continuously monitor network traffic to protect against cyber threats like phishing, spam, and viruses by blocking and reporting malicious activities.

Plurilock Security reports strong sales momentum with a record US$19.3 million contract and strategic partnerships with TD SYNNEX and CrowdStrike. The company's Critical Services Division focuses on AI-driven cybersecurity and Zero Trust architecture, achieving $2 million in cost savings through acquisition integration. Notable achievements include over US$22 million in sales within eight months for a major client and US$28.3 million in Q4 contracts to date. The company's seasonal business shows stronger second-half performance, with significant contracts in law enforcement and semiconductor sectors.

Plurilock Security has secured a CAD$5.4 million three-year sales order with a Canadian Law Enforcement Agency through its subsidiary, Integra Networks The contract, won through competitive bidding, includes a one-year term with two optional automatic renewal years. The agreement will provide software licensing for a cloud operating model that combines public cloud flexibility with private cloud security. The solution enables government agencies to maintain data residency requirements and control over their data and applications, ensuring compliance with national data protection laws.

Plurilock Security announces that its subsidiary, Aurora Systems Consulting, has achieved Cybersecurity Maturity Model Certification (CMMC) Level 1 compliance for the United States Department of Defense (DoD). This certification is important for contractors working with the Defense Industrial Base (DIB) and demonstrates the company's ability to safeguard Federal Contract Information. The CMMC program enhances accountability in cybersecurity assessment processes and helps protect sensitive information from cyber threats. This compliance strengthens Plurilock's position in the U.S. federal government business market.

Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) announces that CEO Ian L. Paterson has been invited to speak at the Vancouver International Security Summit (VISS) on November 25-26, 2024. The summit, titled 'Addressing Foreign Threats and Ensuring Economic & Political Resiliency', will be held at the Coast Coal Harbour Hotel in Vancouver, British Columbia.

Paterson will be a panelist on the 'Enhancing Security and Resilience of Critical Infrastructure' panel on November 25, 2024. The event brings together global security experts, policymakers, and innovators to address urgent security challenges. Paterson emphasizes the importance of effective cybersecurity solutions in protecting digital assets, highlighting Plurilock's commitment to addressing these challenges and their trust from NASDAQ and S&P500-listed enterprises.

Plurilock Security Inc. (TSXV: PLUR) (OTCQB: PLCKF) and CrowdStrike (NASDAQ: CRWD) have announced a new partnership to secure critical infrastructure in democratic nations and economies against modern threats. Plurilock's Critical Services team will leverage the AI-native CrowdStrike Falcon® cybersecurity platform to provide sales, support, and deployment services to key customers seeking to modernize their security operations.

The collaboration aims to address the surging threat environment faced by enterprise customers of key importance to world democracies. By utilizing the Falcon platform, Plurilock can consolidate point products, reduce complexity, and deliver comprehensive visibility and real-time protection across enterprises.

Both companies bring deep expertise in AI and cybersecurity to this partnership, with Plurilock originating as an AI cybersecurity research spin-out and CrowdStrike offering the world's most advanced AI-native cybersecurity platform.