Welcome to our dedicated page for SideChannel news (Ticker: SDCH), a resource for investors and traders seeking the latest updates and insights on SideChannel stock.
SideChannel Inc. (SDCH) delivers essential cybersecurity solutions through its vCISO services and Enclave microsegmentation platform. This news hub provides investors and industry professionals with verified updates about the company's strategic developments in network defense and cloud security.
Access comprehensive coverage of SDCH's operational milestones including earnings reports, partnership announcements, product enhancements, and leadership changes. Our curated news collection enables stakeholders to track emerging trends in zero trust architecture and compliance solutions that shape the company's market position.
Key updates include cybersecurity service expansions, client acquisition developments, and technological innovations within the Enclave platform. All content is maintained to reflect SDCH's evolving role in protecting mid-market organizations from sophisticated digital threats.
Bookmark this page for streamlined access to SDCH's official communications and third-party analysis. Regular updates ensure you maintain current awareness of the company's progress in addressing critical cybersecurity challenges across healthcare, finance, and government sectors.
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.
SideChannel, Inc. rescheduled its fiscal year 2024 second quarter financial results call to May 7, 2024, at 4:30 pm ET. The company offers cybersecurity services to emerging and middle market companies. The call will feature management remarks, a live Q&A session, and participants can register in advance.
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