Root9B Technologies Inc. Provides Financial Guidance for the Fourth Quarter and Full Year Ending December 31, 2016
May 24, 2016 at 07:00 am EDT
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root9B Technologies Inc. provided financial guidance for the fourth quarter and full year ending December 31, 2016. For the full year, the company expects to report net revenue of approximately $48.0 million, an increase of 63% from net revenue of $29.4 million in 2015. Operating loss for 2016 is expected to narrow to approximately $7.0 million from an operating loss of $13.2 million in 2015, a 47% improvement. The improvement will be driven primarily by a combination of higher revenue, a higher proportion of cybersecurity revenue, the impact of previously enacted cost cutting initiatives, and the absence of certain expenses that were incurred in 2015.
The company expects to achieve operating profitability in the fourth quarter of 2016.
root9B Holdings, Inc., formerly root9B Technologies, Inc., is engaged in providing cybersecurity, business advisory services principally in regulatory risk mitigation, and energy and controls solutions. The Company helps clients in various industries to provide cyber operations and solutions, mitigate risk, comply with regulations, and leverage and integrate technology. It operates through three segments: Cyber Solutions, IPSA International, Inc. (IPSA)/Business Advisory Solutions, and Energy and Controls Solutions. The Cyber Solutions segment provides cyber security and technology training capabilities, operational support and consulting services. The IPSA/Business Advisory Solutions segment delivers solutions in both regulatory compliance and risk mitigation. The Energy and Controls Solutions segment works with its customers to assess, design and install processes and automation. Its services include cyber operations assessments, forensics, exploitation and defense planning.
ROOT9B HOLDINGS, INC. 
