Report

Gaining Traction Amid Rising Cyber Threats and Stringent Data Privacy Regulations - Sekur Private Data Ltd. (CSE: SKUR)

Sekur Private Data Ltd. is experiencing significant growth amidst rising cyber threats and stringent data privacy regulations, with 2023 revenue up 27% YoY, surpassing estimates by 9%, and Q1-2024 revenue growing 2% QoQ and 21% YoY. Although EBITDA and EPS remained negative, they showed year-over-year improvement. The company, initially driven by U.S. individual users, is expanding to small and medium-sized businesses (SMBs) and plans to introduce services for large enterprises in H2-2024. A notable reduction in Customer Acquisition Costs (CAC) from US$85 in Q2-2023 to US$25 in Q1-2024 was achieved through in-house SEO marketing and reseller efforts. With annual pricing ranging from US$77 to US$550 per user, Sekur is expected to increase average revenue per user as it continues to onboard SMBs and enterprise clients. Recent high-profile cyber incidents, such as the AT&T data breach and Google's acquisition of Wiz, highlight the importance of strong cybersecurity protocols. Sekur aims for profitability by 2026, with management targeting 2025 through significant cuts in G&A and marketing expenses. As Sekur adapts to the evolving cybersecurity landscape, it is well-positioned to meet the growing demand for effective data protection solutions.
Underlying
Sekur Private Data Ltd.

Provider
Fundamental Research
Fundamental Research

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Analysts
Sid Rajeev

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