Data443 Risk Mitigation (OTC: ATDS ), a data security and privacy software company for “All Things Data Security,” is reporting on its results for the quarter ended March 31, 2023. Financial highlights of the report include 125% increased revenue year over year, 184% increased gross profit year over year and a 60% decreased net loss year over year. Business highlights for the year include a 98% customer renewal rate, the VB100 certification of Data443(R) Antivirus Protection Manager(TM), and the company’s Ransomware Recovery Manager being named Best of Inexpensive Protection and Best for Kiosks in PCMag’s The Best Ransomware Protection for 2023. In addition, the company inked an additional contract from one of its largest fintech clients and signed a contract with a long-time, multinational fintech client that provides payment technology and services to merchants, issuers and consumers. ATDS also added a $484,000 contract with one of the “Big Four” U.S.-based banks and released an update to its award-winning Ransomware Recovery Manager product.
“Our first-quarter results are a testament to our team’s relentless drive, passion and commitment to better serving our existing enterprise clients and expanding our market reach,” said Data443 founder and CEO Jason Remillard in the press release. “Our 125% revenue growth from a year ago clearly indicates that our efforts are resonating with our clients and the trust they place in us. We have attracted new customers while retaining existing ones, and we are further validated by our high customer renewal rates and eagerness to renew with larger and longer-term contracts. This has always been the ultimate vote of confidence in our company. We are proud of the relationships we have built with our customers and will continue to nurture these partnerships in the years to come. While we believe these strong Q1 results reflect that our business plan is working, we recognize that there is still work to be done. As we announced yesterday, we entered into a definitive agreement to acquire select assets from Cyren Ltd. We certainly understand what it takes to integrate acquisitions and onboard new customers to Data443, and we are very excited about the opportunities ahead of this important transaction.”
To view the full press release, visit https://ibn.fm/vxWCs
About Data443 Risk Mitigation, Inc.
Data443 Risk Mitigation provides software and services to enable secure data across devices and databases, at rest and in flight/in transit, locally, on a network or in the cloud. ATDS is All Things Data Security(TM). With more than 10,000 customers in more than 100 countries, Data443 provides a modern approach to data governance and security by identifying and protecting all sensitive data regardless of location, platform or format. The company’s framework helps customers prioritize risk, identify security gaps and implement effective data-protection and privacy-management strategies. For more information about the company, please visit www.Data443.com.
NOTE TO INVESTORS: The latest news and updates relating to ATDS are available in the company’s newsroom at https://ibn.fm/ATDS
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