The company estimates revenues of Approximately $1.62-$1.78 Million
HERZLIYA, Israel, July 7, 2021 – Safe-T® Group Ltd. (NASDAQ, TASE: SFET), a provider of secure access solutions and intelligent data collection, today provided an estimated revenue range for the three- and six-month periods ended June 30, 2021.
On a preliminary and unaudited basis, Safe-T Group expects to report revenues for the quarter ended June 30, 2021, in the range of $1.62 million to $1.78 million, an increase in the range of 50% to 65%, respectively, compared to $1.08 million during the second quarter of 2020. On a preliminary basis, the Company’s revenues for the six-month period ended June 30, 2021, are expected to be in the range between $2.97 million to $3.13 million, compared to $2.16 million in the equivalent period of 2020.
“We are proud to present our estimated record- high quarter. This is a realization of our primary objective – strong organic growth alongside complementary strategic acquisitions. In the last year, we identified opportunities that will present smart acquisition options, and we are clearly witnessing their outcomes. Moreover, Safe-T continued to increase its operations with a demonstrated growth of approximately 60%. The security and privacy sectors in which the Company operates, hold rapid demand and we believe we will continue to see these trends in the upcoming quarters,” said Shachar Daniel, Chief Executive Officer of Safe-T.
Safe-T expects to release the fully reviewed financial statements by August 31, 2021. The figures do not include revenues from the Company’s recent acquisition of CyberKick Ltd. on July 4, 2021, which are expected to contribute to the Company’s consolidated revenues starting from the third quarter of 2021.
The above information reflects preliminary estimates with respect to certain results of the Company for the three- and six-month periods ended June 30, 2021, based on currently available information. The Company is providing ranges, rather than specific amounts, for these preliminary estimates primarily because the financial closing process and review are not yet complete and, as a result, the Company’s final results upon completion of its closing process and review may vary from these preliminary estimates.
About Version 2 Limited
Version 2 Limited is one of the most dynamic IT companies in Asia. The company develops and distributes IT products for Internet and IP-based networks, including communication systems, Internet software, security, network, and media products. Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 Limited offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.
About Safe-T® Group Ltd.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a provider of Zero Trust Access solutions which mitigate attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Safe-T’s cloud and on-premises solutions ensure that an organization’s access use cases, whether into the organization or from the organization out to the internet, are secured according to the “validate first, access later” philosophy of Zero Trust. This means that no one is trusted by default from inside or outside the network, and verification is required from everyone trying to gain access to resources on the network or in the cloud.
Safe-T’s wide range of access solutions reduce organizations’ attack surface and improve their ability to defend against modern cyberthreats. As an additional layer of security, our integrated business-grade global proxy solution cloud service enables smooth and efficient traffic flow, interruption-free service, unlimited concurrent connections, instant scaling and simple integration with our services.
With Safe-T’s patented reverse-access technology and proprietary routing technology, organizations of all size and type can secure their data, services and networks against internal and external threats.