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.
WORCESTER, MA / ACCESSWIRE / March 28, 2023 / SideChannel (OTCQB:SDCH) has partnered with Darkbeam to enhance cyber risk management for businesses. This strategic alliance offers:
- Intelligence-led risk management covering operations and supply chains.
- Advisories for cyber risk during mergers and acquisitions.
- Insights for insurance underwriters on client cyber risks.
By integrating Darkbeam's platform with SideChannel's cybersecurity expertise, clients can access automated vulnerability assessments and dark web monitoring, enhancing their cyber resilience and compliance.
WORCESTER, MA / ACCESSWIRE / March 7, 2023 / SideChannel (OTCQB:SDCH) has expanded its engagement with Virgin Voyages to enhance cybersecurity and data protection services. This partnership will include a virtual chief privacy officer to strengthen Virgin Voyages' data privacy efforts. Virgin Voyages aims to minimize risks from cyber threats, particularly in the hospitality sector. The collaboration reflects a commitment to safety and security for all stakeholders involved. SideChannel has also recently conducted an 'Investor Day' to update stakeholders on its operational progress and strategic goals.
SideChannel, Inc. (OTCQB:SDCH) recently held its annual meeting on February 15, 2023, where Deborah MacConnel was elected as chairwoman. The meeting also included the election of Anthony Ambrose and Kevin Powers to the board, ratification of RBSM, LLP as the independent auditor, and approval for the board to consolidate outstanding shares. During the Investor Day, CEO Brian Haugli and CFO Ryan Polk reported a 26% quarterly revenue growth and 48% year-over-year growth. The event highlighted the increasing demand for the company’s cybersecurity solutions.
SideChannel, Inc. (OTCQB:SDCH) reported a 48% year-over-year growth in quarterly revenue, reaching $1.5 million, and a 26% quarter-over-quarter increase. The trailing twelve-month revenue now stands at $5.3 million.
Gross margins improved from 55% to 56%, reflecting effective growth strategies. The company ended the quarter with a cash balance of $2.6 million. SideChannel's revenue from its virtual Chief Information Security Officer (vCISO) practice surged 66% over the past year, highlighting increasing demand for cybersecurity services among mid-market companies. A financial results conference call is scheduled for February 13, 2023.
SideChannel (OTCQB: SDCH) has announced an Investor Day scheduled for February 15, 2023, from 9:00 am to 10:30 am ET, to be conducted via a virtual webcast. Hosted by President & CEO Brian Haugli and CFO Ryan Polk, this event aims to provide updates on the company's operations, recent developments, and strategic priorities. Investors can preregister for the event and submit questions in advance through the provided email. SideChannel specializes in cybersecurity services for mid-market companies, employing experienced talent to bolster defenses against cyber threats.
SideChannel (OTCQB: SDCH) reported a remarkable 71% revenue increase for the fiscal year ending September 30, 2022, totaling $4.8 million. The company attributed its growth to effective sales and marketing strategies, enhancing its cybersecurity and risk management offerings. Key highlights include a 93% rise in vCISO revenue, reaching $3.1 million, and a staggering 562% increase in recurring vCISO revenue. Despite these gains, the company reported a net loss of $11.8 million primarily due to acquisition costs and goodwill impairment.
SideChannel (SDCH) reported preliminary revenue of $4.6 to $4.8 million for the fiscal year ending September 30, 2022, reflecting a 64% to 71% year-over-year increase from $2.8 million in FY 2021. The company secured 6 new clients during the September quarter, contributing a combined annual revenue value of $1.3 million. Additionally, the sales force expanded from 1 to 5 positions, indicating strong growth prospects. SideChannel's unique approach meets the critical needs of high-growth middle-market companies in cybersecurity.
WORCESTER, MA / ACCESSWIRE / October 4, 2022: SideChannel (OTCQB:SDCH) has announced its participation in key investor conferences this October. The events include the Windy City Roundup 2022 on October 13, at 2:00 p.m. CT in Chicago, and the LD Micro Main Event XV on October 26, at 9:30 a.m. PT in Los Angeles. SideChannel management will also host individual investor meetings. For more details, contact investor relations or visit sidechannel.com.
SideChannel (OTCQB:SDCH) has launched Enclave, a microsegmentation platform aimed at small and midsize businesses (SMBs). This affordable solution simplifies network segmentation and supports a Zero Trust security framework, crucial for SMBs facing rising cyber threats. Developed by a team with over 400 years of combined experience, Enclave helps organizations reduce breaches, outages, and latency, while enhancing overall security. This marks SideChannel's first product release, complementing its existing cybersecurity services.
On July 1, 2022, SideChannel, Inc. was acquired by Cipherloc Corporation, subsequently changing its name and ticker to SDCH. The company filed a Form 8-K/A with the SEC, providing essential financial data from the acquisition. For the nine months ending June 30, 2022, SCS reported revenue of $3.56 million and operating income of $0.79 million. This reflects significant growth, with prior year revenues at $2.80 million. The acquisition allows SideChannel to enhance its cybersecurity services for middle-market companies, facilitated by an expanding sales and marketing team.