InvestorNewsBreaks – HUB Cyber Security Ltd. (NASDAQ: HUBC) Reports Half-Year 2024 Results, Demonstrates Strong Turnaround and Growing Demand for Secured Data Fabric Solutions
HUB Cyber Security (NASDAQ: HUBC) (“HUB Security”) reported revenue of $15.7 million for H1 2024, down from $25.0 million in H1 2023, reflecting a strategic shift away from less profitable segments. Despite the revenue decrease, the company improved its gross margin to 9.5%, up from -7.6% in the prior year, due to a focus on higher-margin areas. Operating expenses were significantly reduced by 71%, and…