Belg
3 years ago
Safe-T Group Ltd. Expects Record First Quarter 2022 Revenue of Approximately $4 Million, Representing Growth of ~200% Compared to First Quarter of 2021
Posted on April 18, 2022 · Posted in Safe-T Group
Customer Acquisition Investments Driving Growth in Recurring Consumer Subscriber Future Revenue
HERZLIYA, Israel, April 18, 2022 — Safe-T® Group Ltd. (Nasdaq, TASE: SFET) (“Safe-T” or the “Company”), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today provided preliminary revenue guidance for the three months ended March 31, 2022.
Based upon a preliminary, unaudited review, Safe-T expects to report revenues for the quarter ended March 31, 2022, of approximately $4 million, nearly tripling its revenues compared to the $1.4 million reported for the first quarter of 2021. First quarter results include continued growth in new subscribers for the Company’s consumer products, as well as for its enterprise privacy solutions.
Shachar Daniel, Chief Executive Officer of Safe-T, stated, “In the first quarter, our performance continued to be driven by growth in the consumer market, a direct result of our customer acquisition efforts. We are excited about our robust product pipeline and are looking forward to capitalizing on the clear and pressing need we see in the market for our solutions. We are confident in our ability to further increase the value of our recurring revenue stream and the Lifetime Value of our acquired customers.”
Update Regarding the Company’s Consumer Business Model and Recurring Revenues
The Company’s customer acquisition program is based upon a 5-year business model that employs a user Lifetime Value (“LTV”) metric. LTV is a calculation of the average dollar amount of revenue anticipated to be received from subscribers over their retention period. According to this model, the Company can estimate future recurring revenue based upon the number of users at any given point of time, multiplied by the relevant LTV. Each product produced by the Company has an associated LTV metric. An updated Corporate presentation including a description of the Company’s LTV model can be found on the website here.
“Since we invested into our consumer business in the second half of last year, we successfully generated a growing future revenue stream of subscribers, one which is and will be an important asset and driver of value for Safe-T. After several months of investing into sales and marketing to acquire our current customer base in support of our first consumer product, we are now able to begin modeling our return on investment based upon the LTV of these consumer subscribers. The attractive LTV metrics we have produced to date provide us with confidence in the sales and marketing efficiency of our consumer acquisition program and its ability to attract profitable customers. This capability will be critical as we expand our offerings onto multiple platforms including Windows, Android and Apple iOS mobile devices and desktop computers later this year. Looking ahead, we intend to continue leveraging our successes through further investments into new and innovative products and accelerating customer acquisitions which we believe will translate into sustained, long-term enterprise value, and ultimately, bottom-line profitability,” added Mr. Daniel.
Safe-T expects to release the fully reviewed financial statements on or before May 31, 2022.
AveragePenny
3 years ago
$SFET Reminder: Safe-T Group to Release Fourth Quarter and Full Year 2021 Financial Results on March 29, 2022
https://www.globenewswire.com/news-release/2022/03/15/2403436/0/en/Safe-T-Group-to-Release-Fourth-Quarter-and-Full-Year-2021-Financial-Results-on-March-29-2022.html
Mr. Shachar Daniel, Chief Executive Officer, and Mr. Shai Avnit, Chief Financial Officer, will host a conference call on March 29, 2022, at 08:30 a.m. ET, to discuss the financial results, followed by a Q&A session.
To attend the conference call, please dial one of the following teleconferencing numbers. Please begin by placing your call five minutes before the conference call commences. If you are unable to connect using the toll-free number, please try the international dial-in number:
Date: Tuesday, March 29, 2022
Time: 08:30 a.m. Eastern time, 05:30 a.m. Pacific time
Toll-free dial-in number: 1-877-407-0789
Israel Toll Free: 1 809 406 247
International dial-in number: 1-201-689-8562
Conference ID: 13727907
Participants will be required to state their name and company upon entering the call. If you have any difficulty connecting with the conference call, please contact Michael Glickman on behalf of Safe-T Group at 917-397-2272.
AveragePenny
3 years ago
$SFET Safe-T Group Partners with TerraZone and DreamVPS to Launch a First-of-its-Kind “Virtual Private Workforce” Cloud Service
https://finance.yahoo.com/news/safe-t-group-partners-terrazone-133000963.html
New Solution Provides a Secure, Flexible Way to Conduct and Manage Remote R&D Teams and Programs in Response to the Uncertainties of Global Health and Geopolitical Events
HERZLIYA, Israel, March 11, 2022 (GLOBE NEWSWIRE) -- Safe-T® Group Ltd. (NASDAQ, TASE: SFET), Safe-T® Group Ltd. (NASDAQ, TASE: SFET) (“Safe-T”), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today announced that it has partnered with TerraZone and DreamVPS to offer a first-of-its-kind Virtual Private Workforce (“VPW”) cloud service.
The new VPW cloud service was developed in response to organizational workforce shifts to remote or work-from-anywhere models accelerated by the COVID-19 pandemic and current geopolitical events. In particular, the demand for software developers has outpaced the local availability of resources, which has required organizations, especially small and medium-sized businesses (“SMBs”), to increasingly outsource their software development programs. Due to the growing number of cyberattacks and security risks, it is imperative for these businesses to adopt a solution that helps empower and protect their distributed workforces. The VPW cloud service provides SMBs with a fully hosted and virtualized infrastructure uniquely designed to support the needs of software development teams. The new service fits organizations with either insourced or outsourced software development programs while ensuring that intellectual property and data are secured against theft and leakage.
“We are excited about our new partnership and engagement with DreamVPS to provide a compelling new security solution to their large global customer base, adding to our continued revenue growth in 2022. VPW incorporates some of the best-of-breed security technologies, including our ZoneZero® network access solution, with the data protection technology by Safe-T and TerraZone, all delivered via DreamVPS’ cloud platform. Together, we are enabling organizations to significantly enhance the security of their valuable R&D and intellectual property with an effective, easy-to-implement service,” said Shachar Daniel, Chief Executive Officer of Safe-T.
Benefits of Virtual Private Workforce
VPW provides many security benefits aimed to enable employees and outsourced employees to work remotely. The basic principles are centered around reducing risk, cutting costs, and improving the user experience. This is achieved with:
Ability to deploy services and servers immediately when infrastructure is required
Increased user productivity with increased uptime
Reduced data center costs and computing support costs by as much as 90%
Improved employee and customer experiences with protected virtual workspaces
Reduced breach risk
Subscription-based User Consumption which charges only for members who actively use the service
“The past two years have demonstrated that working remotely can be highly effective and productive when supported by the right access and security technologies. As the recent geopolitical developments in Ukraine have made clear, however, organizations that have embraced a remote work model, especially those with distributed R&D teams, also need to consider business continuity and disaster recovery planning when remote offices and IT infrastructures are subject to disruption. That is why we came forward with a solution that provides an easier way of implementing remote work at affordable costs with high flexibility and security while making data and the intellectual property, a focal point,” commented Ran Cohen, Chief Technology Officer of DreamVPS. “Through this new technology collaboration with Safe-T and TerraZone, we were able to implement a unique, comprehensive virtual private workforce cloud service, designed for today’s remote workforce.”
Customers signing up to the new cloud service, get the best of all worlds:
State of the art, fully self-managed cloud service and infrastructure, provided by DreamVPS
Encryption and security of data at rest, provided by the Safe-T and TerraZone joint Secure Data Exchange solution
Secure remote access to organizations’ environments and applications within the cloud service, provided by Safe-T’s ZoneZero® Zero Trust Network Access (“ZTNA”) solution
As opposed to other virtualized desktop and infrastructure solutions, which are costly and require installing special software on end user devices, as well as extensive IT knowledge, the VPW service is simple to use, and does not require any client-software installed on the end user’s device.
“Organizations who sign up to the service, get a dedicated fully segmented VPW in which they can host and run their office and network,” said Yana Lev, VP Business Development of TerraZone. “The service also offers a marketplace of software developer-oriented applications and tools which the IT team can deploy at a click of a button within their own virtual private workforce.”
Users accessing the VPW utilizing the VPW’s built in ZTNA-based secure remote access can add per-application secondary multi-factor authentication (“MFA”). Secure access and MFA can be added to any type of application (legacy, proprietary services, RDP, file shares, SSH, SFTP, web applications, databases, and more) without the need to install any special client software on the end user’s device. Once connected to the VPW, users get access only to the applications and servers allowed to them by their identity, ensuring users cannot connect to resources out of their domain, ensuring data cannot be improperly accessed or stolen.
For more information about VPW, please contact Edo Sabag, Chief Business Officer of DreamVPS at edo@dreamvps.com , or Yana Lev, VP Business Development of TerraZone at yana.lev@terrazone.io.
ProfitScout
3 years ago
Nice find! It's great to see SFET getting some high profile media coverage for the increasingly important cyber-security field.
From the article:
Cheap Stocks to Buy: Safe-T Group (SFET)
Israel-based Safe-T has developed what appears to be an exceptionally simple, exceptionally comprehensive IT security system called ZoneZero. With this product, enterprises can easily implement many types of authentication technologies, including push, biometric and instant messaging. And it works with any type of users, including remote workers and those logging in via a VPN and the cloud.
Encouragingly, Safe-T’s system is an “identity-based zero-trust solution.” Even better, the start-up, founded in 2013, has an impressive list of customers and partners, including the Israel Defense Forces, Fujitsu (OTC:FJTSY) and Accenture (NYSE:ACN).
Israel has become a center of IT security heavyweights, including Check Point (NASDAQ:CHKP), CyberArk (NASDAQ:CYBR) and Imperva.
It sounds to me like Safe-T could become the next Okta (NASDAQ:OKTA).
The market capitalization of SFET stock is just $22 million, while that of Okta is $31 billion.
Safe-T Group (SFET); Encouragingly, Safe-T’s system is an “identity-based zero-trust solution.” Even better, the start-up, founded in 2013, has an impressive list of customers and partners, including the Israel Defense Forces, Fujitsu (OTC:FJTSY) and Accenture (NYSE:ACN). https://investorplace.com/2022/01/7-of-the-best-cheap-stocks-under-10-for-2022-to-buy-now/?mod=mw_quote_news
StockHighAlert-
3 years ago
Shachar Daniel, Chief Executive Officer of $SFET Safe-T, commented, “Safe-T continues to execute on its plan to expand its capabilities and global reach in large cybersecurity and privacy markets, and we are pleased with the early success and excellent results we are seeing in APAC, our newest market. Thanks to our local, dedicated team, business in APAC is accelerating and is expected to contribute to our strong revenue growth in 2022. It is our intention to capture a considerable share of new, large, high growth global sectors including e-Commerce and NFT data collection, especially in the APAC region where the value of our enterprises privacy solutions is now being recognized by a growing list of customers." https://finance.yahoo.com/news/safe-t-group-sees-momentum-123000709.html
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