Data443 Reports 112% Revenue Increase, 57% Reduction in Net Loss for Fiscal Year 2023

RESEARCH TRIANGLE PARK, N.C., April 18, 2024 (GLOBE NEWSWIRE) -- Data443 Risk Mitigation, Inc. (OTCPK: ATDS) (“Data443” or the “Company”), a data security and privacy software company for "All Things Data Security," today announced its results for the fiscal year ended December 31, 2023.

Business Accomplishments and Highlights in Fiscal Year 2023 and to date:

• Recognized as a Sample Vendor in the Data Discovery category in three Gartner Hype Cycle Reports for 2023.
• Data443’s Ransomware Recovery Manager named "Best of Inexpensive Protection" and "Best for Kiosks" in "The Best Ransomware Protection for 2023" by PC Magazine.
• Data443 Antivirus Protection Manager received VB100 certification.
• Achieved an overall 98% customer renewal rate.

Acquisitions

• Acquired select assets from Cyren Ltd. ("Cyren"), specifically Cyren's proprietary technology and intellectual property related to threat intelligence, URL categorization and email security services. The acquisition enables Data443 to enhance its existing product portfolio, leverage its growing AI & ML capabilities with signficiant raw data and accelerate the development of next-generation solutions.
  

Deal Win Short Summary

• Secured an additional contract win from one of its largest fintech clients, which processes over 75 billion transactions amounting to more than $9 trillion annually.
• Secured an additional contract win with a long-time, multinational fintech client that provides payment technology and services to merchants, issuers and consumers, annually transferring over 10 million sensitive files for thousands of partners.
• Secured an additional contract win worth $484,000 from one of the 'Big Four' U.S.-based banks.
• Issued over 40 new contract agreements for the Cyren product set to some of the world’s leading ISP, MSP, firewall/router, zerotrust, SASE and online gaming organizations.

Strategic Advances

• Executed long term partnership agreement with Varist ehf. for continued distribution and new licensing of Varist's Malware Detection Engine and new cloud-based Hybrid Analyzer.
• Received strategic onboarding investment in the form of consumption discounts and professional services cost offsets from Amazon AWS to consolidate Data443's growing infrastructure, data security lakes and privacy-sensitive hosting operations.
• Existing product mappings to new category for Data Security Posture Management (DSPM) requirements.
• Data443 joined Amazon as a technology partner for AI & ML usecases, global high-speed and fault tolerant distribution of hundreds of millions threat indicators on a daily basis.
• Data443 joined invite-only Microsoft Security Co-Pilot partner suite to further research and deploy AI-based capabilities leveraging Data443's data classification and discovery capabilities.