Root9B Technologies Reports Consolidated Financial Results for the Third Quarter Ended September 30, 2016
November 29, 2016 at 08:43 am EST
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root9B Technologies reported consolidated financial results for the third quarter ended September 30, 2016. Net revenue for third quarter 2016 increased 29.1% to $8.6 million from $6.6 million in third quarter 2015. The loss from operations in third quarter 2016 was $3.7 million and $3.6 million in third quarter 2015. Net loss for third quarter 2016 was $5.1 million, or 0.06 per diluted share, as compared to a net loss of $4.0 million, or $0.05 per diluted share, in third quarter 2015.
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.