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SecureTech Engages Craft Capital Management to Accelerate Capital Formation, National Exchange Uplisting, and Strategic M&A Growth
Globenewswire· 2025-08-14 12:30
Core Insights - SecureTech Innovations, Inc. has engaged Craft Capital Management as its exclusive investment banking partner to enhance its capital markets strategy, including bridge financing, uplisting to a national securities exchange, and strategic acquisitions [1][2][4] - The partnership aims to strengthen SecureTech's balance sheet and provide working capital for near-term acquisition opportunities, supporting costs associated with its planned uplist to NYSE or NASDAQ [2][4] - SecureTech has recently acquired AI UltraProd, a leader in AI-powered industrial manufacturing, and is exploring additional M&A opportunities to expand its market presence and enhance shareholder value [3][4] Company Overview - SecureTech Innovations, Inc. is a technology company focused on artificial intelligence, industrial 3D printing, cybersecurity, and digital infrastructure solutions [5] - The company's portfolio includes AI UltraProd, Piranha Blockchain, and Top Kontrol, which address various technological challenges and enhance security [5] Leadership Commentary - J. Scott Sitra, President and CEO of SecureTech, emphasized that engaging Craft Capital Management is a pivotal step in executing the company's strategic roadmap for transformative growth and increased shareholder value [4] - Mackey McFarlane, Head Investment Banker at Craft Capital Management, expressed excitement about partnering with SecureTech, highlighting the company's innovative portfolio and scalable business model [4]
DTST Reports 2025 Second Quarter Financial Results and Provides Business Update
GlobeNewswire News Room· 2025-08-14 12:30
Core Insights - Data Storage Corporation reported strong growth in its core business, particularly in higher-margin, recurring subscription sales, with total sales of $5.1 million in Q2 2025, up 4.8% year-over-year [2][3] - The company proposed a $40 million sale of CloudFirst Technologies Corporation, which would yield approximately $24 million in net proceeds, subject to shareholder approval [2][3] - A tender offer to repurchase up to 85% of outstanding common stock has been authorized, aimed at returning capital to shareholders while retaining funds for future growth initiatives [2][3] Financial Performance - For the second quarter of 2025, total sales reached $5.1 million, reflecting a 4.8% increase from $4.9 million in Q2 2024 [3][15] - Gross profit for the quarter was $2.5 million, maintaining consistent margin levels [3][15] - The company ended the quarter with $11.1 million in cash and marketable securities, indicating a solid liquidity position [3][15] Strategic Initiatives - The proposed sale of CloudFirst is intended to unlock value and allow the company to focus on high-growth sectors such as artificial intelligence and cybersecurity [2][3] - Regardless of the sale's outcome, the company plans to evolve into a technology-driven enterprise and may pursue a corporate rebranding [2][3] - The annual meeting for shareholder approval of the proposed transaction is scheduled for September 10, 2025 [2][3]
Radware and Leading Latvian ISP Tet Sign Managed Security Services Provider Agreement
GlobeNewswire News Room· 2025-08-14 10:00
Core Insights - Radware and Tet have signed a managed security service provider (MSSP) agreement to enhance Tet's security offerings with Radware's AI-powered Cloud Application Protection Services [1][2] - The partnership builds on an existing relationship, with Tet already utilizing Radware's DefensePro® DDoS Protection for its business customers [2][3] - The collaboration aims to address the increasing threat of web DDoS attacks, which surged by 550% from 2023 to 2024, primarily driven by hacktivist groups [3][4] Company Overview - Radware is a global leader in application security and delivery solutions for multi-cloud environments, utilizing AI-driven algorithms for real-time protection against sophisticated cyber threats [7] - Tet is one of Latvia's largest technology companies, providing a wide range of ICT and pay-TV services, as well as cloud and cybersecurity solutions [6] Market Context - The MSSP model offered by Radware provides ISPs like Tet a low-risk method to introduce proven security services while creating new revenue streams [4] - The growing threat landscape and shortage of in-house security staff are prompting organizations to seek alternative strategies to enhance their security posture [4] Technology and Services - Radware's Cloud Application Protection Service includes a comprehensive suite of security solutions such as web application firewall (WAF), bot detection, API protection, and application-layer DDoS protection [4] - The service is designed to defend against over 150 known attack vectors, including the OWASP's Top 10 Web Application Security Risks [4]
X @BSCN
BSCN· 2025-08-14 04:15
Cyber Security Threat Landscape - A North Korean hacking group was compromised, revealing details of their cyber operations [1] - The group employs low-tech, high-volume tactics to bypass security measures [3] - The group utilizes fake identities, including forged IDs and social media profiles, to infiltrate crypto firms [1] Hacking Techniques & Infrastructure - The team operated with 31 fake identities to secure jobs at crypto firms [1] - The group spent $1.489 thousand on infrastructure to support hacking activities [2] - The group uses Google services, AnyDesk, VPNs, and translation tools to mask their location and manage tasks [2] Financial Impact & Targets - The group is linked to a $680 thousand crypto hack in June [1] - The group is connected to a broader DPRK network tied to the $1.4 billion Bybit exchange hack in February [2] - A Payoneer wallet linked to the Favrr exploit suggests active laundering of stolen funds [2] Targets - The group targeted Polygon Labs with job applications [2] - The group claimed to have worked for OpenSea and Chainlink in scripted interview responses [2]
Intrusion Incurs Loss in Q2 Despite 28% Top-Line Growth, Stock Jumps
ZACKS· 2025-08-13 16:31
Core Insights - Intrusion Inc. reported a second-quarter 2025 loss of $0.10 per share, an improvement from a loss of $0.53 per share a year ago, but wider than the Zacks Consensus Estimate of a loss of $0.09 per share [1] - Quarterly revenues reached $1.9 million, reflecting a 28% year-over-year increase and a 6% sequential rise, surpassing the Zacks Consensus Estimate of $1.8 million [2][9] - The company secured an additional $3 million from the Department of Defense (DoD) to enhance operational deployment of its infrastructure monitoring tools and expand threat analysis capabilities [3][9] Revenue and Product Performance - The revenue growth was driven by new customer acquisitions and expanded work with existing clients, particularly the DoD, marking the fifth consecutive quarter of revenue growth [2][9] - Consulting revenues for the quarter were $1.4 million, remaining flat sequentially but up by $0.2 million year-over-year, while Shield revenues totaled $0.5 million, an increase of $0.1 million sequentially and $0.2 million year-over-year [5] - The stability in gross margin at 76% year-over-year indicates the scalability of Intrusion's business model, although management notes potential fluctuations based on product mix [7] Operating Expenses and Financial Position - Operating expenses increased to $3.5 million from $3.1 million in the prior-year quarter, reflecting strategic investments in R&D, sales, and marketing [10] - The operating loss totaled $2.1 million compared to an operating loss of $2 million in the prior-year quarter [10] - As of June 30, 2025, Intrusion had $4.7 million in cash and cash equivalents, down from $10.7 million as of March 31 [11] Market Reaction - Following the results, Intrusion's shares gained 5.5% in trading, closing at $1.91 on August 12, and were up 4.2% in pre-market trading the following day [6]
61% of Cybersecurity Professionals Plan AI Adoption as Manufacturing Faces Growing Cyber Risks
Prnewswire· 2025-08-13 14:00
Core Insights - Cybersecurity has emerged as the top external concern for manufacturers, surpassing economic conditions, with 30% of respondents identifying it as a significant risk [7] - The integration of IT and OT is increasing the risk of cyberattacks, prompting 61% of cybersecurity professionals to plan for AI adoption to manage these risks [2][7] - Workforce development remains a challenge, with a shortage of skilled talent and rising labor costs hindering competition, particularly in cybersecurity and analytical skills [4] Cybersecurity Findings - Cybersecurity is now viewed as a business enabler rather than just a technology issue, with manufacturers leveraging AI to enhance security and productivity [5][3] - 38% of manufacturers intend to utilize data from current sources to enhance protection against cyber threats [7] - 48% of cybersecurity professionals emphasize the importance of securing converging IT and OT architectures for positive outcomes in the next five years [7] Workforce and Skills Development - More than half (53%) of respondents from companies with revenues of $30 billion or more consider cybersecurity practices and standards as critical skill sets [7] - The report highlights the need for aligning technical innovation with human development to address the skills gap in the manufacturing sector [4] Methodology - The report is based on feedback from 1,560 manufacturing leaders across 17 countries, covering various industries and company sizes, with revenues ranging from $100 million to over $30 billion [6]
What Keeps Visa at the Forefront of Cybersecurity Innovation? (Revised)
ZACKS· 2025-08-13 11:26
Core Insights - Visa Inc. is at the forefront of cybersecurity in the payments industry, transforming it into a competitive advantage by protecting millions of transactions daily and dismantling complex fraud networks [1] Group 1: Cybersecurity Initiatives - Visa launched the Cybersecurity Advisory Practice in August 2025 to assist organizations in enhancing their defenses against cyber threats, offering assessments, protection against enumeration attacks, and tailored staff training [2][9] - The company appointed Jeremiah Dewey as the global head of cyber products, emphasizing its commitment to cybersecurity innovation [2] Group 2: Investment and Impact - Over the past five years, Visa has invested approximately $12 billion in technology and infrastructure, employing advanced tools and expertise to combat fraud [3] - In the last year, Visa's efforts led to the prevention of 80 million fraudulent transactions, blocking $40 billion in fraudulent payment attempts, and averting over $122 million in potential e-commerce fraud [3] Group 3: Technological Advancements - Visa Protect for Account-to-Account payments utilizes advanced AI technology to assess numerous risk factors in milliseconds, enabling proactive fraud prevention [4] - The Visa Account Attack Intelligence (VAAI) offering has been enhanced with the VAAI Score, a tool that leverages generative AI to detect and evaluate enumeration attacks in real time [3][9] Group 4: Competitive Landscape - Competitors such as Mastercard and PayPal are also investing heavily in cybersecurity, with Mastercard investing over $10.7 billion since 2018 and PayPal enhancing its AI-powered risk engine for real-time transaction evaluation [5][6][7] Group 5: Financial Performance - Visa's stock has increased by 6.5% year-to-date, outperforming the industry average increase of 0.5% [8] - The forward price-to-earnings ratio for Visa is 26.62, which is above the industry average of 21.19, indicating a premium valuation [11] - The Zacks Consensus Estimate for Visa's fiscal 2025 earnings suggests a year-over-year increase of 13.7% [13]
Atos named a Leader in ISG Provider Lens for Cybersecurity – Services and Solutions in Germany
GlobeNewswire News Room· 2025-08-13 08:30
Core Insights - Atos has been recognized as a Leader in the ISG Provider Lens for Cybersecurity in Germany, highlighting its innovative and comprehensive approach to cybersecurity services [1][5]. Group 1: Strategic Security Services - The report acknowledges Atos' holistic consulting approach to IT security, which is based on results and provides clients with necessary insights for informed decision-making [2]. - Atos demonstrates a strong commitment to research and development, offering a comprehensive roadmap to address a wide range of security challenges [2]. Group 2: Technical Security Services - ISG emphasizes Atos' extensive knowledge of local regulatory requirements, numerous certifications, and its ability to execute large-scale security projects, supported by thousands of highly trained experts [3]. Group 3: Next-Generation SOC/MDR Services - Atos utilizes big data analysis and automation for multi-vector threat detection, employing a single AI platform to monitor threats and provide incident response services [4]. - The German SOC of Atos is connected to its global counterparts, enhancing its operational capabilities [4]. Group 4: Company Overview - Atos operates with approximately 70,000 employees and generates annual revenue of around €10 billion, positioning itself as a leader in cybersecurity, cloud, and high-performance computing in Europe [7]. - The company is committed to a secure and decarbonized future, providing tailored AI-powered solutions across various industries [7].
Intrusion(INTZ) - 2025 Q2 - Earnings Call Transcript
2025-08-12 22:00
Financial Data and Key Metrics Changes - Total revenues for Q2 2025 were $1,900,000, representing a 6% increase sequentially and a 28% increase year-over-year, driven largely by work performed under the Department of Defense contract [9][11] - Operating expenses totaled $3,500,000, an increase of $100,000 sequentially and $400,000 year-over-year, primarily due to increased R&D spending [12][14] - Net loss for Q2 2025 was $2,000,000 or $0.10 per share, compared to a net loss of $2,100,000 for Q2 2024 [14] Business Line Data and Key Metrics Changes - Consulting revenues in Q2 2025 totaled $1,400,000, flat compared to the prior quarter but up $200,000 year-over-year [11] - Shield revenues in Q2 2025 were $500,000, an increase of $100,000 sequentially and up $200,000 year-over-year, primarily reflecting work under the Department of Defense contract [11][12] Market Data and Key Metrics Changes - The company is focusing on critical infrastructure protection, which is seen as a promising market opportunity, highlighted by a $3,000,000 contract extension with the Department of Defense [5][9] - The company anticipates deeper penetration in both governmental and commercial sectors, which will result in changes to the customer mix [12] Company Strategy and Development Direction - The company is making strategic investments in critical infrastructure and plans to launch its Shield Cloud product on the AWS Marketplace, with a similar launch on Microsoft Azure planned for later this year [6][7] - The company is refining its reseller partnerships, focusing on managed service providers (MSPs) and managed security service providers (MSSPs) to enhance sales efforts [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving sustainable growth and profitability, citing improved conversations with current and potential customers [15] - The company is optimistic about the demand for its products, particularly in the context of new federal budget opportunities [10][15] Other Important Information - The company has sufficient capital to fund operations through the remainder of 2025 and into early 2026, with cash and cash equivalents of $4,700,000 and short-term investments of $3,700,000 as of June 30, 2025 [15] Q&A Session Summary Question: Is the $3,000,000 contract with the DoD an expansion or extension of services? - The contract is both a renewal of an existing contract and an increase in scope and dollar value [17] Question: What is the broader opportunity within the DoD? - The company sees significant domestic opportunities in critical infrastructure sectors, which are a focus of the current administration [19][20] Question: What sales and marketing strategies will be employed in the marketplaces? - The company plans to follow best practices for creating awareness and promoting its technologies in the marketplaces [21] Question: What is the status of reseller partnerships? - The company is refining its reseller partnerships, focusing on those that show potential for success [23] Question: Have there been shifts in federal or enterprise budgets or sales cycles? - The company is seeing long sales cycles but is focusing on opportunities in operational technology (OT) protection, which is less crowded than IT protection [31][32] Question: When might the company achieve cash flow breakeven? - Management is optimistic about achieving cash flow breakeven soon, depending on securing contracts [42] Question: Who are the major competitors? - The company identifies perceived competitors but believes its offerings are unique and plans to better communicate these differences [44][46]
X @TechCrunch
TechCrunch· 2025-08-12 20:29
Russian government hackers said to be behind US federal court filing system hack: report | TechCrunch https://t.co/oCzhTmIxe9 ...