Data443 Reports 112% Revenue Increase, 57% Reduction in Net Loss for Fiscal Year 2023 - Seite 2

Product Updates

• Released the latest update to Data443’s award-winning Ransomware Recovery Manager product offering, which includes advanced features designed to help businesses and individuals to recover from ransomware attacks.
• Bundled antivirus and ransomware protection to Data443’s Enhanced File Transfer/Managed File Transfer (EFT/MFT) solution, Data Placement Manager (DPM). Data443's DPM securely processes thousands of sensitive data files on an hourly basis for its clients around the globe, with clients experiencing up to 99.999% uptime.
• Refactoring of Cyren product set to leverage global data security lake for advanced use cases, including automated classifications via AI LLM's.
  

Management Commentary:

Data443’s CEO & Founder Jason Remillard commented, “As we reflect on the accomplishments in 2023, Data443 continues to demonstrate resilience, innovation and steadfast commitment to our customers in the data security and privacy industry. Throughout 2023, we achieved significant milestones and garnered notable recognition.

Strategic acquisitions have always been instrumental in fortifying our market presence and enriching our product suite. The integration of select assets from Cyren Ltd. exemplifies our commitment to augmenting our capabilities and accelerating the development of cutting-edge solutions. This strategic expansion, combined with our unwavering focus on client satisfaction, is underscored by our commendable 98% customer renewal rate—a testament to the trust and value our clientele place in our offerings.

Fiscal year 2023 saw significant contract wins from prominent entities within the fintech sector, reflecting the industry's confidence in our solutions. These victories, alongside our relentless pursuit of product innovation, including deploying advanced features within our Ransomware Recovery Manager and enhancing our Enhanced File Transfer/Managed File Transfer solution, have helped scale our growth trajectory.

Looking ahead, we remain steadfast in our mission to establish pioneering standards in data security and privacy, foster innovation, and empower enterprises to navigate the ever-evolving threat landscape confidently. We believe that together, we are not merely adapting to change but shaping the future of data security,” concluded Mr. Remillard.

Fiscal Year 2023 Financial Highlights:

• Total revenues were $5,578,942 for the year ended December 31, 2023, an increase of 112% from $2,627,123 for the year ended December 31, 2022.