Safe-T Group (NASDAQ:SFET) Ltd has told investors that it expects to report third-quarter revenues of more than $3.2 million, a year-on-year increase of over 125%, bolstered by an acquisition.
The company, a global provider of cybersecurity and privacy solutions, said revenues for the nine months ended September 30, 2021, are expected to be more than $6.3 million compared to $3.6 million reported in the equivalent period of 2020.
It said the preliminary results for the three-month and nine-month periods include the initial revenue contribution from its recent acquisition of CyberKick Ltd, which was completed on July 4, 2021.
READ: Safe-T reveals acquisition of SaaS security and privacy solutions provider CyberKick
“We continue to leverage our growth strategy, focused on the unique potential of our business segments, where our investments in new and innovative technologies are now translating to robust growth,” CEO Shachar Daniel said in a statement.
"Based on the business trends we are seeing, we intend to maintain our focus and resources on high-margin products and services that will support and further establish our position in the market and allow us to take advantage of the opportunities ahead and generate ongoing value for the company and our shareholders.”
The company said it expects to release the fully reviewed financial statements on or before November 30.
Safe-T Group Ltd is a global provider of cyber-security and privacy solutions and operates in three distinct segments - enterprise cyber-security solutions, enterprise privacy solutions, and consumer cyber-security and privacy solutions.
Contact the author at stephen.gunnion@proactiveinvestors.com