Core Insights - Cycurion, a leader in IT cybersecurity solutions and AI, announced that W. Eric Singleton, Vice President of Operations, will speak at TechNet Cyber 2025, a key event for cyber leaders in defense and intelligence [1][5] - Singleton's presentation will focus on the ARx platform, which utilizes intelligent deception and machine learning to enhance cyber defense for military networks [2][4] Company Overview - Cycurion is based in McLean, Virginia, and specializes in IT cybersecurity solutions, program management, and business continuity, serving government, healthcare, and corporate clients [6] - The company emphasizes its commitment to delivering secure and innovative services through its AI-enhanced ARx platform [6] ARx Platform Features - ARx functions as a cloud-native Web Application Firewall (WAF) and reverse proxy, providing full traffic inspection [8] - It integrates with MITRE ATT&CK and Cyber Kill Chain models, facilitating seamless operations within Department of Defense Security Operations Center workflows [8] - Key capabilities include anomaly detection driven by machine learning, deceptive tactics to delay attackers, and forensic visibility for threat analysis [8]

Core Insights - Akamai Technologies has announced a strategic partnership with FPT Corporation to enhance cloud application deployment and optimization on Akamai Cloud [1][2] - The collaboration aims to leverage FPT's expertise in cloud migration, AI, and automation alongside Akamai's robust platform to deliver value to customers [2][3] Company Overview - FPT Corporation operates in 30 countries, with a significant presence in the Americas, employing over 1,000 professionals since entering the region in 2008 [4] - In 2024, FPT's global IT services achieved a 27.4% year-on-year revenue increase, contributing 79% of its total technology revenue and 91% of its pre-tax profit [4] - FPT reported a total revenue of USD 2.47 billion in 2024, with a workforce exceeding 54,000 employees [7] Partnership Details - The partnership will enable organizations to optimize multi-cloud and distributed environments, enhancing performance and cost efficiencies [2][3] - FPT and Akamai demonstrated AI capabilities at the 2025 NAB Show, showcasing how AI can transform media archives into monetizable assets [3] Financial Performance - FPT reported a robust first-quarter performance in 2025, with revenue increasing by 13.9% and profit before tax up 19.4% year-on-year [4] - The technology sector remains a key growth driver for FPT, achieving a 15.3% year-on-year increase, supported by a 17% rise in revenue from global IT services [4]

Core Insights - Radware is implementing an aggressive growth strategy in the U.S. market, focusing on expanding its cloud services and enhancing its application security solutions [1][2] - The company has reported strong first-quarter financial results, which supports its expansion efforts [1] Leadership and Team Expansion - Radware has appointed new U.S. executives, including Constance Stack as chief growth officer, Randy Wood as senior vice president of North American sales, and Joshua Bafalis as director of acquisition sales [3][4] - The new leadership team is tasked with driving revenue growth and increasing market share in the U.S. [2][8] - The company has filled over 30 new positions across various departments to support its growth initiatives [5] Strategic Partnerships and Technology - Radware has formed a new partnership with SUSE to enhance its Kubernetes Web Application and API Protection (KWAAP) solutions [6] - The collaboration aims to provide a comprehensive security solution for modern application developers [6] AI Innovation - The company has launched AI SOC Xpert, a next-generation cloud service designed to combat AI-driven threats, which significantly reduces the mean time to resolution by up to 95% [7] - This service is part of Radware's EPIC-AI™ platform, enhancing its capabilities in threat detection and response [7] Market Positioning - Radware's leadership emphasizes the company's unique ability to provide both on-premises and cloud solutions, addressing the needs of enterprises transitioning to the cloud [8] - The executives express confidence in Radware's technology and its potential to outperform competitors in the application security market [8]

Core Insights - Radware reported a strong start to 2025 with first quarter revenue increasing by 11% year-over-year, marking the third consecutive quarter of double-digit growth [2][3] - The company achieved a GAAP net income of $4.3 million, or $0.10 per diluted share, compared to a net loss of $1.2 million, or $(0.03) per diluted share, in the same quarter of 2024 [3][21] - Non-GAAP net income for the first quarter of 2025 was $11.8 million, or $0.27 per diluted share, up from $6.8 million, or $0.16 per diluted share, in Q1 2024 [3][9] Financial Performance - Total revenue for Q1 2025 was $72.1 million, reflecting an 11% increase from $65.1 million in Q1 2024 [3][21] - Cash flow from operations was reported at $22.4 million for the first quarter of 2025, with a trailing twelve-month cash flow of $72.9 million [4][9] - The company had cash, cash equivalents, short-term and long-term bank deposits, and marketable securities totaling $447.9 million as of March 31, 2025 [4] Regional Revenue Breakdown - Revenue in the Americas for Q1 2025 was $27.4 million, a slight increase of 1% from $27.1 million in Q1 2024 [10] - Revenue in the EMEA region reached $28.4 million, representing a significant increase of 25% from $22.7 million in Q1 2024 [10] - The Asia-Pacific region generated $16.3 million in revenue, up 7% from $15.3 million in the same quarter of 2024 [10] Key Performance Indicators - The company's Cloud Annual Recurring Revenue (ARR) was reported at $80 million, reflecting a 19% increase year-over-year [9] - Non-GAAP diluted EPS increased to $0.27 from $0.16 in Q1 2024, while GAAP diluted EPS improved from $(0.03) to $0.10 [9][21]

Core Insights - The 2025 Cybersecurity Readiness Index by Cisco reveals that only 4% of organizations globally have reached a 'Mature' level of cybersecurity readiness, indicating a slight improvement from 3% last year, but overall preparedness remains low [2][6] - AI is significantly impacting the security landscape, with 86% of organizations experiencing AI-related security incidents last year, yet only 49% of respondents feel their employees fully understand AI-related threats [3][6] - The report highlights a critical gap in cybersecurity readiness, with 71% of respondents expecting business disruptions from cyber incidents in the next 12 to 24 months [6] Cybersecurity Readiness - Only 4% of organizations worldwide have achieved a mature level of cybersecurity readiness, reflecting a concerning trend in global preparedness [6] - The complexity introduced by AI has led to 86% of organizations facing AI-related security incidents, emphasizing the need for improved understanding and strategies [3][6] - A significant 86% of organizations report a shortage of skilled cybersecurity professionals, which continues to hinder their security efforts [6][12] Threat Landscape - Nearly half of organizations (49%) suffered cyberattacks in the past year, with external threats from malicious actors and state-affiliated groups viewed as more significant than internal threats [4] - Organizations are increasingly concerned about unmanaged devices, with 84% facing heightened security risks due to employees accessing networks from these devices [7] AI's Role in Cybersecurity - A substantial 89% of organizations utilize AI to better understand threats, while 85% use it for threat detection and 70% for response and recovery, highlighting AI's critical role in enhancing cybersecurity strategies [7] - However, 60% of IT teams are unaware of employee interactions with public GenAI tools, indicating a lack of oversight and potential risks [7] Investment and Strategy - While 96% of organizations plan to upgrade their IT infrastructure, only 45% allocate more than 10% of their IT budget to cybersecurity, which has decreased by 8% year-over-year [8] - Organizations are urged to invest in AI-driven solutions, simplify security infrastructures, and enhance awareness of AI threats to effectively tackle current cybersecurity challenges [9]

Core Viewpoint - WISeKey and OISTE.ORG have launched the "Quantum Root Key," a post-quantum cryptography solution aimed at securing digital identities and communications against quantum computing threats [1][3][7] Group 1: Quantum Computing Threats - The rise of quantum computing poses a significant risk to current encryption methods, as it can break traditional encryption schemes that rely on factoring large prime numbers [2] - A new cryptographic paradigm is necessary to address these vulnerabilities, as simply increasing key lengths is insufficient [2] Group 2: Quantum Root Key and PQC Algorithms - The "Quantum Root Key" utilizes NIST-standardized Post-Quantum Cryptography (PQC) algorithms, including ML-DSA, ML-KEM, and FALCON, which are designed to withstand quantum attacks [3][4] - This new root of trust enables secure authentication, quantum-safe encryption, and long-term data integrity for critical systems across various sectors [4] Group 3: Applications and Benefits - The Post-Quantum Trust Services will support the issuance and management of quantum-resistant digital certificates, benefiting sectors that require long-term confidentiality, such as defense, healthcare, finance, and telecommunications [4][5] - The platform's certificates maintain a structure similar to traditional certificates but utilize larger key sizes to prevent exploitation by quantum adversaries [5] Group 4: Real-World Adoption and Infrastructure - WISeKey's subsidiary SEALSQ Corp is launching the SEALSQ Quantum Lab to facilitate access to PQC-PKI infrastructure for pilot projects and early-stage deployment of quantum-resistant certificates [6] - This lab aims to become a reference hub for organizations looking to enhance their digital security strategies against quantum threats [6] Group 5: Company Overview - WISeKey is a global leader in cybersecurity, digital identity, and IoT solutions, operating through various subsidiaries focused on specific technology areas [8][9] - The company has deployed over 1.6 billion microchips across IoT sectors, playing a crucial role in securing the Internet of Everything [9]

Financial Data and Key Metrics Changes - Fiscal year 2025 total bookings reached a record $4 billion, up 4% year over year, with revenue exceeding the high end of annual guidance [8][25] - Non-GAAP operating margin was a record 58.4%, reflecting strong cost controls and operational efficiencies [9][26] - Non-GAAP EPS was $2.22, marking a 15% increase year over year and at the high end of annual guidance [9][26] - Unlevered free cash flow was nearly $2 billion, with net leverage reduced to 3.2 times EBITDA [9][34] Business Line Data and Key Metrics Changes - Direct revenue in Q4 was $877 million, up 4% in constant currency, with a total Q4 revenue exceeding $1 billion for the first time at $1.01 billion, also up 5% [27][26] - Partner revenue in Q4 was $121 million, up 15% year over year, driven by strong growth in the employee benefits channel [31][32] - The identity theft protection segment saw double-digit growth internationally, with increased demand for LifeLock following major data breaches [12][14] Market Data and Key Metrics Changes - The direct customer count increased by 1.3 million to over 40.4 million direct paid customers, with a total of over 65 million direct and indirect paid customers [15][28] - Approximately 45% of direct customers now have comprehensive cyber safety memberships, reflecting the increasing value of the product portfolio [15][30] - The company expanded its privacy and identity products into 15 new markets, achieving encouraging early results [14] Company Strategy and Development Direction - The company is committed to increasing innovation pace and expanding geographic reach to deliver cyber safety solutions [10][22] - The acquisition of MoneyLion is expected to enhance financial wellness offerings and expand the total addressable market [16][37] - The business will operate under two segments: Cyber Safety Platform and Trust Based Solutions, focusing on customer needs and operational efficiency [18][39] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of the business despite macroeconomic uncertainties, citing a strong subscription model and high customer retention [68][70] - For fiscal year 2026, the company expects revenue between $4.7 billion and $4.8 billion, representing 6% to 8% pro forma growth [22][39] - Non-GAAP EPS for fiscal year 2026 is projected to be between $2.46 and $2.54, indicating double-digit growth [39] Other Important Information - The company plans to continue a balanced capital allocation strategy, focusing on share repurchases and debt paydown [48][36] - Q4 operating income was $590 million, translating to an operating margin of 58.4% [33] - The company has a robust cash flow generation capacity, with a Q4 ending cash balance of over $1 billion [34] Q&A Session Summary Question: Guidance for fiscal year 2026 and MoneyLion growth visibility - Management confirmed that guidance assumes MoneyLion growth can remain in the 29% to 30% range, with a focus on cross-selling and transforming the business model [44][45] Question: Capital allocation strategy regarding share repurchases - Management indicated a balanced approach to capital allocation, looking forward to resuming share repurchases while managing debt [48][49] Question: Impact of MoneyLion's customer network on potential subscribers - Management highlighted the opportunity to cross-sell to MoneyLion's customer base and enhance offerings through their technology [54][58] Question: Signs of demand resilience amid macro uncertainty - Management noted strong subscription levels and a resilient business model, with confidence in continued demand for cyber safety products [68][70] Question: Indirect revenue growth outlook and new partnerships - Management expects sustainable, profitable growth in the indirect channel, particularly from employee benefits and telco partnerships [82][86]

Financial Data and Key Metrics Changes - Revenues grew 10% to $159.9 million, with channel contributions increasing to 49% of total revenues from 45% a year ago [19][20] - Adjusted EBITDA for Q1 was $74.8 million, representing a 47% margin, consistent with the previous year [22] - Free cash flow was $107.6 million, maintaining a 57% margin compared to the prior year [22][23] - EPS for Q1 was $1.67, with full-year EPS guidance raised to $6.00 - $6.30 from a prior range of $5.50 - $5.90 [23][24] Business Line Data and Key Metrics Changes - Patch management and cybersecurity asset management accounted for 15% of total bookings and 24% of new bookings on an LTM basis [21] - Total Cloud CNAP made up 5% of LTM bookings, reflecting customer demand for comprehensive risk management [21] Market Data and Key Metrics Changes - U.S. revenue grew 6%, while international revenue grew 16%, indicating stronger performance outside the U.S. [20] - Customers spending $500,000 or more increased by 6% year-over-year to 2,003 [15] Company Strategy and Development Direction - The company is focusing on a partner-first strategy to drive growth, emphasizing the consolidation of security tools and risk management [60][73] - Qualys aims to enhance its Total AI and TruRisk capabilities to address evolving threats associated with AI technologies [10] - The company is advancing its managed risk operations (MROC) services to provide a centralized approach to pre-breach risk management [16] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing macroeconomic uncertainty affecting customer spending and decision-making cycles, leading to a more cautious outlook [28][29] - Despite challenges, the company remains confident in its long-term growth potential and ability to gain market share [15][18] - Guidance for full-year revenue growth is set at 7% to 8%, with expectations of increased scrutiny on new business growth [24][25] Other Important Information - The company has made progress towards achieving FedRAMP high certification, which is expected to fuel growth [17] - Qualys has repurchased 9.6 million shares since February 2018, returning nearly $1.1 billion to shareholders [23] Q&A Session Summary Question: Thoughts on the macro environment and customer spending - Management observed that cybersecurity remains a priority, but there is increased scrutiny on spending and longer decision cycles [28] Question: Customer journey with the Risk Operations Center (ROC) - The ROC consolidates risk signals from multiple tools, providing actionable insights and remediation plans, which helps customers save time and resources [31][32] Question: Impact of macro challenges on deals - No material deals were pushed or pulled; however, there was some pushback on anticipated upsell rates from existing customers [37] Question: Competitive landscape and response to competitors expanding into network-based VM - Management expressed confidence in Qualys's focus on prioritizing and remediating vulnerabilities rather than just identifying them [39][40] Question: Growth in Total Cloud CNAP and audit readiness - The Total Cloud CNAP is still in early stages but has seen growth, with audit readiness becoming a significant area of focus for customers [78][81]

Financial Data and Key Metrics Changes - Revenues grew by 10% to $159.9 million, with channel contributions increasing to 49% of total revenues compared to 45% a year ago [19][20] - Adjusted EBITDA for Q1 was $74.8 million, representing a 47% margin, consistent with the previous year [23] - Free cash flow was $107.6 million, maintaining a 57% margin compared to 57% in the prior year [23] - EPS for Q1 was $1.67, with full-year EPS guidance raised to a range of $6.00 to $6.30, up from the prior range of $5.50 to $5.90 [24][25] Business Line Data and Key Metrics Changes - Patch management and cybersecurity asset management combined accounted for 15% of total bookings and 24% of new bookings on an LTM basis [21] - Total Cloud CNAP made up 5% of LTM bookings, reflecting customer demand for comprehensive risk management solutions [21][22] Market Data and Key Metrics Changes - U.S. and international revenue mix was 57% and 43%, respectively, with international growth outpacing domestic growth [20] - Customers spending $500,000 or more grew by 6% year-over-year to 2,003 [14] Company Strategy and Development Direction - The company is focusing on a partner-first strategy to drive growth, emphasizing the consolidation of security tools and risk management solutions [62] - The introduction of the Risk Operations Center (ROC) aims to help organizations manage cyber risks proactively, reducing the chance of breaches [7][10] - The company is expanding its Total AI and TruRisk capabilities to address evolving threats associated with AI technologies [9] Management's Comments on Operating Environment and Future Outlook - Management noted that while cybersecurity remains a priority, there is increased scrutiny on spending and longer decision-making cycles due to macroeconomic uncertainty [28][29] - The company expects revenue growth for the full year 2025 to be in the range of 7% to 8%, with a cautious outlook on new business growth [25][58] Other Important Information - The company has made progress towards achieving FedRAMP high certification, which is expected to fuel growth [16] - The company has repurchased 9.6 million shares since the start of its repurchase program, returning nearly $1.1 billion in cash to shareholders [23] Q&A Session Summary Question: Thoughts on the macro environment and customer spending - Management observed that cybersecurity remains important, but there is more scrutiny on spending and longer decision cycles [28][29] Question: Customer journey with the ROC - The ROC consolidates risk signals from multiple tools, providing actionable insights and remediation plans, which helps customers save time and resources [30][32] Question: Impact of macro challenges on deals - No material deals were pushed or pulled; however, there was some pushback on upsell rates from existing customers [37] Question: Competitive landscape and response to competitors - Management expressed confidence in their approach to vulnerability management, focusing on prioritizing and remediating significant risks rather than just identifying vulnerabilities [40][41] Question: Growth in Total Cloud CNAP and audit readiness - The Total Cloud CNAP is still in early stages but has seen growth, with a focus on helping customers prepare for audits and manage risks effectively [76][79]

Financial Performance - FY25 revenue reached $3.935 billion, a 4% year-over-year increase[9] - Q4 FY25 revenue was $1.010 billion, up 5% year-over-year in both USD and constant currency[30, 33] - FY25 EPS was $2.22, a 15% increase in constant currency[9] - Q4 FY25 EPS reached $0.59, a 13% increase year-over-year in constant currency[30, 33] - The company has a net leverage of 3.2x[10] Customer Metrics - Total bookings reached $4.0 billion, a 4% year-over-year increase in constant currency[10] - Total paid customers exceeded 65 million[10] - Direct customers totaled over 40 million, with a net increase of 1.3 million year-over-year[10] - Direct customer retention rate was 78%, a 250 bps increase since the Avast acquisition[10] - Direct monthly ARPU was $7.26, a $0.04 year-over-year increase[10] Future Outlook - FY26 revenue is projected to be between $4.70 billion and $4.80 billion, representing a 6-8% year-over-year pro-forma growth[44] - FY26 EPS is expected to be between $2.46 and $2.54, a 12-15% year-over-year increase in constant currency[44]