Data443 Reports 125% Increase in Revenues, 184% Increase in Gross Profit for Q1 2023 - Seite 2

• During the three months ended March 31, 2023, the Company generated $360,000 from operating activities, compared to $156,000 generated during the three months ended March 31, 2022.
• During the three months ended March 31, 2023, the Company used funds in investing activities of $81,000 to acquire property and equipment and advance payment for acquisition. During the three months ended March 31, 2022, the Company used funds in investing activities of $258,000 to acquire property and equipment.
• During the three months ended March 31, 2023, the Company had net cash outflows for financing activities of $171,000. By comparison, during the three months ended March 31, 2022, the Company had net cash outflows for financing activities of $920,000.

Liquidity

• As of March 31, 2023, the Company had cash in the amount of $109,000 and other current assets in the amount of $2,891,000.

Management Commentary:

Jason Remillard, Data443's founder and chief executive officer, commented: "Our first quarter results are a testament to our team's relentless drive, passion and commitment to better serving our existing enterprise clients and expanding our market reach. Our 125% revenue growth from a year ago clearly indicates that our efforts are resonating with our clients and the trust they place in us. We have attracted new customers while retaining existing ones, and we are further validated by our high customer renewal rates and eagerness to renew with larger and longer-term contracts. This has always been the ultimate vote of confidence in our company. We are proud of the relationships we have built with our customers and will continue to nurture these partnerships in the years to come.

"While we believe these strong Q1 results reflect that our business plan is working, we recognize that there is still work to be done. As we announced yesterday, we entered into a definitive agreement to acquire select assets from Cyren Ltd. We certainly understand what it takes to integrate acquisitions and onboard new customers to Data443, and we are very excited about the opportunities ahead of this important transaction.

"I want to thank our dedicated team, our customers and our shareholders for your unwavering support and belief in our vision. We are committed to unlocking our potential and seizing the opportunities ahead."

To learn more about Data443, please watch the video introduction on the Company's YouTube channel: https://youtu.be/1Fp93jOxFSg