On the contrary, revenues have been growing at an appreciable pace, and with aggressive cost-cutting over the past few quarters, the setup into Q4 and all of 2023 is for the bullish trend to continue.
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Strengthening Operational Momentum
That should be the case, noting that SFET is seeing business strengthening across the board. Last month, SFET announced that its wholly-owned subsidiary and enterprise privacy network unit, NetNut, looks better positioned than ever to seize enormous revenue-generating opportunities from current and prospective clients in the price comparison website (PCW) market. That sector presented an estimated
But the better news for SFET and its investors is that analysts are expecting the market to become a more than
That mission is already underway as SFET nurtures multiple revenue streams by taking advantage of its opportunities and offering best-in-class optimization solutions to diverse business segments needing innovative and client-specific cyber-security solutions. Those following company updates know that SFET has been more than just targeting opportunities; they are capturing them.
Momentum Strengthens Into Q4
For example, in Q3, SFET said that NetNut doubled its usage volume and processed over 36 billion customer requests over a comparative monthly period, attributed to the onboarding of several strategic customers that enhanced NetNut's network ability to process billions of requests compared to prior periods. While current run rates are impressive, additional growth to volume is likely in the queue. Further client acquisitions are expected to be a significant driver of that momentum, especially as more become acquainted with NetNut's ability to improve price comparison capabilities, provide users with seamless and competitive business analysis, and, most importantly, increase productivity.
Keep in mind that NetNut isn't the only performing value driver. Revenue contributions from other products in its enterprise privacy solutions, consumer cyber-security and privacy solutions, and enterprise cyber-security solutions segments add to the company's steepening growth trajectory.
SFET's first segment offers cybersecurity and privacy solutions for basic and advanced consumers, providing a substantial security blanket against ransomware, viruses, phishing, and other online threats. It also provides users with a robust, secure, and encrypted connection, masking their online activity and keeping them safe from hackers. A second segment, privacy solutions for enterprises, is powered by the world's fastest and most highly secured proxy network that enables customers to anonymously collect data at any scale from any public source over the web using a unique hybrid network. In addition, the SFET network comprises both entry and exit points based on its proprietary reflection technology, leveraging the power of hundreds of optimally designed servers located at ISP partners worldwide that help guarantee the service's privacy, quality, stability, and speed. There's more contributing to record-setting growth.
A third value-driving asset targets business from clients needing enterprise cybersecurity solutions. This revenue stream is accretive through its global information securities provider,
Combined, these assets aren't just targeting diversified opportunities; they are actively capitalizing on them and delivering growth that less nimble industry giants like
Nearing Two Years Of Consecutive Quarterly Growth
In Q3, SFET reported impressive growth. In fact, it was record-setting. Specifically, comparative revenues surged by 42% to a record
Gross profit for the nine months surged by 143% to
Industry analysts within the sector appear to support that assumption as well, with two covering SFET modeling for a median 12-month price target of
Trading Ahead Of An Expected Rally
Considering that, trading ahead of Q4 results may be a wise and timely consideration. Remember, SFET has delivered consecutive growth over the past seven quarters. More importantly, they've provided evidence of entering 2023 better positioned than ever to keep that winning streak alive. In fact, revenue growth is strengthening across all of its segment channels, highlighted by updates pointing to organic growth and the ability to capitalize on strengthening market positions. That momentum is behind its enterprise privacy business turning profitable and scoring its own record-setting numbers.
That's not all. Another subsidiary, CyberKick, is performing better than expected, fueling optimism that income from that asset could contribute appreciably more to revenue streams this year. Thus, the most prudent way to appraise SFET is not singularly but instead as a sum of its parts calculation. Appreciating the entirety of its assets, including having roughly
Yes, there are big names in the sector, and yes, they offer specific solutions. But what's different about SFET is that they are nimble, an appreciable difference from large-cap competitors that may find it difficult to quickly reprogram to address cyber-threats that change almost daily. In that sense, being small has its advantages. And while SFET currently meets that description, a growth spurt is certainly not out of the question.
In fact, that's happening now. Strategic initiatives, formidable assets, a strong balance sheet, and expert management all contribute to SFET's record revenues and strengthened bottom-line performance. With historical performance now an enviable precedent, the best news for SFET and its investors is that 2023 performance is expected to continue that trend and shatter recent records.
Disclaimers:
The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quote; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investors investment may be lost or impaired due to the speculative nature of the companies profiled.
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