SideChannel Inc. - SDCH STOCK NEWS

SideChannel (OTCQB:SDCH) reported its Q1 FY2025 financial results, showing revenue growth of 9.9% to $1.9 million compared to $1.7 million in Q1 FY2024. The company's gross margin decreased by 290 basis points to 45.8% from 48.7% year-over-year. Operating expenses saw a reduction of $24,000 (2.1%) compared to FY2024.

The company reported a net loss of $195,000 ($0.00 per share), an improvement from the $246,000 loss in the previous year. Cash, cash equivalents, and short-term investments increased by $75,000 to $1.4 million. Trailing twelve-month revenue reached $7.6 million with a revenue retention rate of 66.1%.

CEO Brian Haugli outlined strategic objectives focusing on Enclave adoption, new vCISO client acquisition, and expansion of cybersecurity risk reduction solutions. The company continues to invest in its sales and marketing team to accelerate revenue growth using existing cash reserves and operational cash flow.

SideChannel (OTCQB:SDCH) and Recon Infosec have announced a strategic partnership to enhance their cybersecurity offerings. The collaboration enables Recon Infosec's clients to access SideChannel's virtual Chief Information Security Officer (vCISO) services, while SideChannel's clients gain access to Recon's Managed Security Operations services.

The partnership combines SideChannel's expertise in Risk Management and vCISO services with Recon's managed security operations capabilities. SideChannel provides cybersecurity services to emerging and middle market companies, including their zero-trust network solution Enclave, compliance tools, and privacy enhancement across various sectors such as healthcare, finance, and technology.

This 'better together' approach aims to deliver comprehensive cybersecurity support, combining SideChannel's security strategy and risk management services with Recon's operational security capabilities to provide end-to-end support for balanced cybersecurity programs.

SideChannel (OTCQB:SDCH) reported its fiscal year 2024 financial results, showing revenue growth of 12.8% to $7.4 million compared to $6.6 million in FY2023. The company's gross margin decreased to 47.8% from 50.7% in the previous year. Operating expenses were reduced by $1.2 million (22.0%), and net loss improved significantly to $785,000 ($0.00 per share) from $7.0 million ($0.04 per share) in FY2023.

The company maintained a strong cash position with $1.3 million in cash, cash equivalents, and short-term investments, representing an increase of $242,000 from the previous year. Revenue retention was 69.2%, slightly down from 71.0% in FY2023. Management highlighted their achievement of sustainable cash provided by operations and plans to focus on growing Enclave revenue through building a dedicated sales team.

SideChannel (OTCQB:SDCH), a cybersecurity services provider, has rescheduled its fiscal year 2024 financial results conference call from December 4 to December 5, 2024, at 4:30 PM ET. The fiscal year ended September 30, 2024. The conference call will feature management remarks and a Q&A session, with participants able to submit questions in advance via email. Both toll-free and international dial-in options will be available, along with a webcast option for which participants can pre-register.

SideChannel has secured a contract with a major U.S. Department of Defense (DoD) research and development organization to implement its Enclave zero-trust network microsegmentation solution. The solution will replace the agency's legacy systems, providing secure communications and enhanced network security. Enclave is now available through GSA and NASA SEWP contract vehicles, facilitating easier procurement for government agencies. The platform will enable the DoD agency to transition to a zero-trust architecture, ensuring only verified and authorized systems and users can communicate across their network.

SideChannel, a leading cybersecurity solutions provider, has appointed Dutch Schwartz as Vice President of Cloud Services to lead their new Cloud Security and Architecture practice. Schwartz, formerly a Principal Security Specialist at AWS, brings extensive experience in cybersecurity strategy and execution. His impressive track record includes exceeding $100 million quotas, leading large teams, and generating over $300 million in revenue through marketing strategies.

Schwartz holds an MBA and cybersecurity certificates from prestigious institutions and is the author of a book on AI security. The new practice aims to address the growing demand for cloud-native solutions and infrastructure protection, with expectations of generating significant incremental revenue in the next fiscal year. This strategic move positions SideChannel as a comprehensive cybersecurity partner, focusing on innovation and addressing critical gaps in cloud security.

SideChannel (OTCQB:SDCH) reported its financial results for Q3 FY2024, ending June 30, 2024. Key highlights include:

• Q3 revenue of $1.8 million, up 5.5% year-over-year
• Year-to-date revenue of $5.5 million, a 12.1% increase from the previous year
• Q3 gross margin of 48.9%, slightly down from 49.9% in Q3 FY2023
• Operating expenses decreased by 22.0% compared to Q3 FY2023
• Net loss of $146,000 or $0.00 per share
• Cash balance increased to $1.1 million

The company achieved positive cash flow from operations for the second consecutive quarter, attributing this to expense reductions and consistent revenue growth. SideChannel is now investing in sales and marketing, particularly for its Enclave product.

SideChannel (OTCQB:SDCH), a leading cybersecurity services provider, has announced key leadership changes to drive growth and success. Matt Klein has been promoted to Chief Operating Officer (COO), tasked with expanding the delivery and services team to meet increasing demand. David Barton joins as the new Vice President of Product, focusing on driving sales of SideChannel's Enclave zero-trust network microsegmentation software.

Both executives will report directly to CEO Brian Haugli. Klein's promotion aims to enhance operational excellence and client satisfaction, while Barton's expertise is expected to expand Enclave's market presence. These strategic moves are designed to strengthen SideChannel's position in the cybersecurity industry and support its ongoing innovation efforts.

SideChannel, Inc. (OTCQB:SDCH) reported positive quarterly financial results with revenue up 15.8% year-to-date, reaching $7.1 million in trailing twelve months. The company achieved a second quarter revenue of $1.9 million, showing a 19.2% increase from the previous year. Operating expenses decreased by 29.3% compared to the same period in FY 2023. Although a net loss of $253,000 was incurred in the second quarter, cash flow increased to $851,000 compared to $819,000 in December 2023. The company remains focused on achieving quarterly profitability through expanding sales channels and innovative approaches to cybersecurity services.