Stockholm, Sweden– 14 November 2022 – Cyber Security 1 AB records €11.2m revenue in Q3 2022 for the period, which is an increase of 21% compared to the same period last year.

During the third quarter, the company fully incorporated Cyber Security South Africa (CSSA) and Cyber Security Africa Distribution (CSAD), following the 100% purchase of both entities and is now reflected within the reporting. More information on the acquisitions can be found here.

“Our headline expansion continues to progress, realising 21% year over year revenue growth within the third quarter. Some of the investment costs in the Managed Service offering continues to carry over within the third quarter, as well as some exceptional items related to upskilling our sales team in line with our client engagement strategy” comments Robert Brown Group President.

“The rollout of our market entry on the Managed Service investment is in a crucial phase of implementation, as we see this commercial stream as integral to the future success of CYBER1. Our business units have identified the key pipeline deals and renewals within their jurisdictions for the fourth quarter and are working towards a busy end to the financial year, to put the company on a strong platform moving into 2023” concludes Robert Brown.

Summary Highlights
 
· Q3 Group revenue increased year on year by 21%, from €9.3m in Q3 2021 to €11.3m in Q3 of 2022.
· Gross margin for Q3 2022 has maintained consistent year on year at 19%.
· Operating Expenditure for Q3 has increased by €894km compared to Q3 2021, an increase of 36%. It is noted that the main reason for this increase is the investment in skilled resources to help the client engagement strategy, software and resources for the newly formed Secure Operating Centre (SOC).
· Group year to date EBITDA loss of €2,562k, compared to a profit of €671k in 2021. 

For further information, please contact:

Public Relations Contact: 
George Messum : E-mail: george.messum@cyber1.com
 
Mangold Fondkommission AB is the Company’s Certified Adviser.

About CYBER1

CYBER1 is engaged in providing cyber resilience solutions and conducts its operations through presences in Sweden, South Africa, United Arab Emirates, Kenya and the UK. Listed on Nasdaq First North Growth Market (Nasdaq: CYB1.ST), the Group delivers services and technology licenses to enhance clients’ protections against unwanted intrusions, to provide and enhance cyber resilience and to prevent various forms of information theft. CYBER1 had revenues of €37.22m in 2021.

For further information, please visit www.cyber1.com/investors.

For all company filings and reports, please visit: https://cyber1.com/cyber1-investor-information/

This information is information that Cyber Security 1 is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-11-14 15:00 CET.

Attachments

CYBER1 Q3 2022 Report

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