CYBER1 Q4 2021 Report: CYBER1 Records Fourth Successive Profitable Quarter
Stockholm, Sweden– 01 February 2022 – Cyber Security 1 AB (Publ) (the “Company”) (“CYBER1”) (Nasdaq First North: CYB1), an international leader in Cyber Security services today announces its Q4 2021 Report detailing another quarter of positive results in revenues of €11.78m and an EBITDA profit of €188k.
Quarterly Performance
• Q4 Group revenue increased year over year by 105% (€6.04m), from €5.74m in Q4 2020 to €11.78m in Q4 of 2021.
• Q4 Gross Profit has improved 144%, from €1.26m, to €3.09m.
• Q4 2021 Group EBITDA profit of €188k, compared to a loss of €-763k in Q4 of 2020.
• Operating Expenditure for Q4 has increased by €909k compared to Q4 2020, an increase of 42.9%. It is noted that administration costs have flatlined year on year, whilst sales related investments have equated to almost all of the additional expenditure, contributing to the improved revenue and EBITDA performance displayed above.
Annual Performance
• 2021 Group year to date revenue has increased 36%, from €27.36m at the end of Q4 2020 to €37.22m at the end of Q4 2021. All year to date figures are subject to the Group’s annual audit.
• 2021 Group year to date EBITDA profit of €853k, compared to a loss of €-13.22m in Q4 2020 YTD. These results have derived from a culmination of increased sales pipeline and conversion, as well as the residual benefits of analysis and strategic investment within the company’s operations.
Beyond the Quarter & Other News
CYBER1 continued its expansion of its managed service offering through a new integration with campaign management and security user awareness training. The company has partnered with leading security vendor KnowBe4, to become its strategic partner on security training and awareness. KnowBe4, the provider of the world’s largest security awareness training and simulated phishing platform, is used by more than 44,000 organisations around the globe.
Commenting on the Q4 2021, Group President and Executive Director Robert Brown stated:
“Following the business transformation of CYBER1 over the back end of 2020 and start of 2021, the company has continued its strong momentum by recording its fourth successive profitable quarter, as well as more than doubling the revenue year over year for the quarter period. During the last three months, we were able to implement for the first time (since the beginning of early 2020) investment of financial resources back into the business, to accelerate overall growth.
Now with plans for 2022 being already implemented, we will continue to harness the strong work that has been achieved to date and with our Executive and Board and Directors pulling together, I am hugely excited on what can be achieved over the next four quarters. The cyber security industry constantly faces exciting challenges in providing resilient solutions against the latest threats. CYBER1 has the capability to be an influential player in several growing markets, where we can work with our leading partners to provide the most robust solutions available.”
The report is attached to this press release and can be found on our website by visiting https://cyber1.com/investors/ and clicking on the Financial Report section.