Alarum Technologies Ltd. anticipates achieving a record-breaking revenue of over $18.5 million for the full year ending December 31, 2022, reflecting an impressive 80% year-over-year growth. This growth is attributed to investments in their leading privacy products. For Q4, revenues reached $5 million, marking a 35% increase from the previous year. The preliminary cash balance stands at approximately $3.4 million, with potential additional funds of up to $2.7 million from credit facilities. CEO Shachar Daniel highlighted the successful transformation of their subsidiary, NetNut Ltd., into a profitable enterprise.
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Safe-T Group Ltd. (Nasdaq: SFET) announced that its subsidiary, NetNut Ltd., is expanding into the price comparison market, particularly targeting the travel sector. New customers will enhance their price comparison capabilities through NetNut's solutions, driving increased user productivity and competitive analysis. NetNut has doubled its usage volume, processing over 36 billion customer requests, attributed to new strategic customers and network expansion. This growth positions NetNut as a key player in the proxy solutions market.
Safe-T Group Ltd. (Nasdaq: SFET) has been recognized as one of the 100 fastest growing companies in Israel by Statista and Globes, ranking 14th among them for the period from 2018 to 2021. The company achieved over 109% growth in the first nine months of 2022 compared to the same period in 2021. Safe-T's revenues rose from $1.4 million in 2018 to $10.3 million in 2021, with 2022 revenues already reaching $13.6 million as of September 30, 2022. This recognition validates Safe-T's continuous growth strategies in the cybersecurity and privacy market.
Safe-T Group Ltd. (Nasdaq: SFET) reported record revenues of $13.61 million for the nine months ending September 30, 2022, reflecting a 109% increase year-over-year. For Q3 2022, revenues reached $4.81 million, a 42% rise, with gross profit soaring 143% to $7.36 million. The company reduced its net loss by 36% to $2.37 million and achieved a 49% decrease in Adjusted EBITDA Loss to $1.6 million. Key developments include a successful reverse stock split and strategic funding to support customer acquisition initiatives. The enterprise privacy sector is also showing signs of profitability.
Safe-T Group Ltd. (Nasdaq: SFET) announced that its subsidiary, NetNut Ltd., is expanding its product offerings into new market segments, adding several leading cybersecurity firms to its customer portfolio. NetNut's service enables companies to conduct operations smoothly and efficiently, with a recent 36 billion customer requests processed, reflecting doubled usage volume. The global cybersecurity market is projected to grow from $155.8 billion in 2022 to $376 billion by 2029, presenting substantial growth opportunities for Safe-T.
Safe-T Group Ltd. (Nasdaq: SFET) has announced its compliance with Nasdaq Listing Rule 5450(a)(1), which mandates a minimum bid price of $1.00 for its American Depositary Shares (ADS). This determination followed 10 consecutive business days of closing bid prices at or above the required threshold. As a result, the bid price deficiency issue is now resolved, allowing the company to maintain its listing. Safe-T offers a range of cybersecurity and privacy solutions for consumers and enterprises, underscoring its commitment to secure online experiences.
Safe-T Group Ltd. (NASDAQ: SFET) announced an expansion in its product offerings through its subsidiary NetNut Ltd., launching a new Mobile IP Proxy Network. This strategic move aims to tap into the mobile enterprise privacy sector. The company has secured its first three customers for this new service, indicating early market interest. CEO Shachar Daniel expressed optimism about the growing demand for their cybersecurity solutions, suggesting that this will positively impact future business performance.
Safe-T Group Ltd. (Nasdaq: SFET) will release its financial results for Q3 2022 on November 29, 2022, before market opening. CEO Shachar Daniel and CFO Shai Avnit will host a conference call at 08:30 a.m. ET that day to discuss the results and address questions. Safe-T specializes in cybersecurity and privacy solutions across various sectors. The press release emphasizes the company's commitment to providing secure services to consumers and enterprises, highlighting its advanced proxy network and zero-trust security solutions.
Safe-T Group Ltd. (Nasdaq: SFET) announces profitability for its subsidiary NetNut, driven by a doubling of usage volume, processing over 36 billion requests. The surge resulted from onboarding strategic clients and expanding network capabilities, leading to three record revenue months. This growth stems primarily from increased activity in the Counter Ad-Fraud market. CEO Shachar Daniel highlights the network's ability to handle over 100% increased traffic efficiently, reaffirming confidence in NetNut's scalable solutions.