Empowering Companies Through the Digital Age Among Numerous Threats: SWISF / SKUR.C, HUBC, BBAI, IRNT

As the global digital infrastructure continues to grow, there is going to be significant interest in cybersecurity companies from investors, and for good reason too. The growing cybercrime threats would make these companies vital to the smooth running of businesses, governments, and the digital ecosystem. Here is a look at some companies which are empowering companies and organizations through their offerings.

Sekur Private Data Ltd SWISF SKUR - The company is a cybersecurity firm that specializes in providing internet privacy solutions through its Swiss-hosted secure communications and secure data management products. Sekur Private Data Ltd is involved in distributing a suite of secure communication, document management, disaster recovery, encrypted e-mails, and secure cloud-based storage products. 

Recently, the company announced that it had been successful in pushing down its customer acquisition cost (CAC), which would go on to boost its profit margins. Sekur Private Data also announced at the time that it was preparing to launch a new privacy solution offering aimed at government agencies, small to medium-sized enterprises, and large enterprises.

Since January 2023 the company had been focused on improving its customer metrics and was successful in bringing down the CAC in the $30 to $35 range. That worked out to a reduction of 91% since January and 55% since April. However, the figure was below its original aim of bringing down the CAC to $75 by the end of this year and to $60 by the end of 2024.

Recent government regulations had banned apps like TikTok due to data security fears. Sekur Private Data helps enterprises in being compliant with government regulations by shutting out such regulated sites and consequently helps in prioritizing data security and privacy. The company offers an array of products that help in providing secure communications to its clients.

HUB Security Ltd HUBC - The company is involved in providing cybersecurity solutions in Israel and the rest of the world. It had been launched in 2017 and is based out of Tel Aviv, Israel. HUB Security Ltd is known for providing securing computing platforms, quantum-secured cloud workspace, quantum cure ransomware technology, healthcare, and artificial intelligence solutions, quantum secured cloud workspace, and a wide range of other security products.

On June 13, the company announced that it had been notified by NASDAQ, in a notification dated June 9, 2023, that it was no longer compliant with the NASDAQ Listing Rule 5450(a)(1). In the previous 30 consecutive days leading up to the notification date, the bid price of its stock had gone below $1 a share. That is a requirement for continued listing. The company was given a 180 days period ending December 6, 2023, within which it would need to regain compliance.

BigBear.ai BBAI - The company is involved in the designing of decision intelligence solutions that are powered by artificial intelligence. BigBear.ai offers its solutions in the fields of autonomous systems, cyber security, and logistics. It boasts of high-profile clients like the United States Federal Government, the United States Department of Defense, and the United States Intelligence Community among others.

On June 12 the company announced that it had been awarded a six-month extension by the United States Army in its role as the prime contractor for continuing its work on Global Force Information Management (GFIM) system. The six-month contract would be worth $8.5 million. 

IronNet Inc IRNT - The worldwide cybersecurity company is working on the transformation of organizations by providing network security with the first-ever Collective Defense platform which could operate at scale. IronNet Inc integrated the considerable tradecraft knowledge it possesses to build its industry-leading solutions and solve the toughest cybersecurity problems in the world.

On June 28, the company announced that it had received a notification from the New York Stock Exchange noting that IronNet was not in compliance with the 802.01E Section of the NYSE Listed Company Manual. That happened because the company had failed to file its quarterly financial results on Form 10-Q for the quarter that ended April 30, 2023, on time. The company revealed in a notification to the United States Securities and Exchange Commission that it had failed to file on time since its resources had been diverted in trying to raise more capital and in working on a possible strategic transaction.

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