Alarm Company
alarm
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(Safe-T Group), which develops and markets solutions for corporate information security, reports preliminary results for revenues and cash balances for the fourth quarter and for the entire year 2022.
Alarmum expects to report revenues of $18.5 million and more for 2022, which is a growth of about 80% compared to revenues of $10.3 million in 2021. The company explains that the growth in revenues is a result of the ongoing investment in its privacy products. Revenues for the fourth quarter amounted to approximately $5 million, an increase of approximately 35% compared to revenues totaling $3.7 million in the fourth quarter of 2021.
The preliminary estimate of the company’s cash balance and cash value as of December 31 was approximately $3.4 million. This balance does not reflect additional optional financing in the amount of up to approximately 2.7 million dollars that may be available to the company within the framework of the continuous financing agreements and the credit line reached during the year 2022.
Shahar Daniel, CEO of Alarmum: “We are happy about the achievements we recorded in 2022, which included annual growth of 80% as well as eight consecutive quarters of record revenues. Another milestone we achieved this year was the passing of the profitability of the subsidiary, Netnat, at the same time as accelerated growth in its revenues. The company’s overall cash burn rate decreased in the last two quarters of 2022, and we expect this trend to continue in 2023 as well.”
Alarmum expects to publish the full and audited financial statements by March 31, 2023.
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