- Safe-T Group Announces Corporate Rebranding Changes Name to Alarum Technologies Ltd. to Reflect Core Values of its Growing Business
Jan 12, 2023
Tel Aviv, Israel, Jan. 12, 2023 (GLOBE NEWSWIRE) -- Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) (“Safe-T” or the “Company”), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today announced a corporate rebranding in response to accelerated company growth. At the heart of this rebranding is a change of the Company’s name to Alarum Technologies Ltd. to embody its corporate vision and core values.
The new name, Alarum, is derived from the Latin word for "warning" and is rooted in the Company's focus and commitment to provide advanced privacy and cybersecurity solutions.
Over the past 18 months, the Company anchored its position as the market leader of cybersecurity and privacy solutions. It has experienced significant growth, which reflects the increasing recognition by private and enterprise customers that choose the value-added benefits of the Company’s various solutions. The rebranding as Alarum better reflects the Company’s current business as a provider of cybersecurity and privacy solutions for consumers and enterprises, and better expresses the Company’s evolving identity and diversified growth ambitions.
Chief Executive Officer, Shachar Daniel, commented: “At Alarum, our mission is to enable a secure network environment and protect organizations and individuals from privacy breaches and cyber-attacks. Our commitment to our customers, partners and shareholders remains our highest priority and we are excited to embark on this new chapter under the Alarum brand.”
The rebranding includes a new name and an update to the Company’s corporate logo and website. Alarum’s Nasdaq and TASE trading symbols will change to ALAR. The Company will continue to trade under its current name until regulatory processes are finalized. The Company expects the transition to be completed and take effect on January 25, 2023. There will be no change to the Company’s CUSIP number.
"Over the past two years we have taken substantial steps to become the company we are today - a strong privacy and cybersecurity provider, serving both enterprises and consumers around the world, and presenting continuous growth in revenue. Our rebranding to Alarum is consistent with our business direction and targets we are aiming for in the next few years”, said Shachar Daniel.
About Safe-T Group Ltd. Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) is a global provider of digital privacy and cyber-security and solutions. The Company operates in two distinct segments: solutions for enterprises and solutions for consumers.
NetNut Ltd., our privacy solutions for enterprises are based on our world’s fastest and most advanced and secured proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web using a unique hybrid network. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
Our cybersecurity and privacy solutions for consumers provide privacy blanket against online threats as well as a powerful, secured, and encrypted connection, masking users’ online activity and keeping them safe from hackers. The solutions are designed for basic and advanced use cases, ensuring complete protection of personal and digital information.
The Company's previous developed cybersecurity solutions for enterprises are offered by an information security provider, as a solution or cloud service.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, the Company is using forward-looking statements in this press release when it discusses its rebranding, the change of its name, trading symbols and timing thereof, its growth and the increasing recognition by private and enterprise customers, its mission, business direction and targets. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 29, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
INVESTOR RELATIONS CONTACTS:
Michal Efraty
+972-(0)52-3044404
michal@efraty.com
- Safe-T Group: NetNut Strengthens its Presence in the Price Comparison Market with New Travel-Industry Customers
Dec 28, 2022
Tel Aviv, Israel, Dec. 28, 2022 (GLOBE NEWSWIRE) -- Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) (“Safe-T” or the “Company”), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today announced that NetNut Ltd., the Company's wholly owned subsidiary and enterprise privacy network unit (“NetNut”), is expanding its presence into the price comparison market with new customers from the travel sector that operate price comparison websites (PCW).
These new customers will be utilizing NetNut’s solutions to improve their price comparison capabilities and offer their users seamless and competitive business analysis and increased productivity. These new partnerships will allow NetNut to tap into the growing PWC marketplace and further establish itself as a leading provider of proxy solutions.
"We are pleased to partner with new customers in the price comparison website market, as it allows us to further strengthen our presence in the travel industry, a competitive market for our customers. We are confident that our solutions will provide our customers with valuable benefits, allowing them to offer their users an efficient and competitive experience," said Shachar Daniel, Safe-T's Chief Executive Officer.
NetNut recently announced it has doubled its usage volume and processed over 36 billion customer's requests. The sharp increase in volume is a result of the onboarding of several strategic customers, as well as the expansion of NetNut's network and its ability to process billions of requests
About Safe-T Group Ltd.
Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. The Company operates in three distinct segments: enterprise privacy solutions, consumer cyber-security and privacy solutions, and enterprise cyber-security solutions.
Our cybersecurity and privacy solutions for consumers provide a wide security blanket against ransomware, viruses, phishing, and other online threats as well as a powerful, secured, and encrypted connection, masking their online activity and keeping them safe from hackers. The solutions are designed for advanced and basic users, ensuring full personal protection for all personal and digital information.
Our privacy solutions for enterprises are based on our world’s fastest and most advanced and secured proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web using a unique hybrid network. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
The cybersecurity solutions for enterprises are available by our reseller, TerraZone Ltd., a global information security provider, as a solution or cloud service. These solutions are designed for cloud, on-premises and hybrid networks, mitigates attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organizational data access, storage and exchange use cases, from outside the organization or within, are secured according to the “validate first, access later” philosophy.
For more information about Safe-T, visit www.safetgroup.com
About NetNut Ltd.
NetNut Ltd., a wholly owned subsidiary of Safe-T Group Ltd., is a provider of fast, reliable and scalable proxy solutions for all web scraping and web data extraction requirements. By utilizing a dynamic network and delivering optimized IP pools, NetNut is the ultimate solution for scraping and collecting web data at high speed and lower rates. NetNut’s use cases includes web data extraction, market research, Search Engine Optimization (SEO) monitoring and Search Engine Results Page (SERP) tracking, price comparison, social media management (SMM), advertising verification, brand protection, travel aggregation and more. NetNut’s proxy network comprises exit points based on its proprietary reflection technology and hundreds of servers located at its ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this press release when it discusses NetNut’s expansion into a new market segment, its network’s performance, the ability of NetNut’s solution to address market needs and improve customers’ price comparison capabilities. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 29, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
INVESTOR RELATIONS CONTACTS:
Michal Efraty
+972-(0)52-3044404
investors@safetgroup.com
- Safe-T Group Ranked #14 by Statista and Globes Among Israel's 100 Fastest Growing Companies
Dec 5, 2022
HERZLIYA, Israel, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) (“Safe-T” or the “Company”), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today announced that Safe-T was ranked as one of the 100 fastest growing companies in Israel by Statista, a leading provider of market and consumer data, and Globes, a leading financial publication in Israel.
“We are extremely proud to announce that Safe-T ranked 14th among Israel’s 100 fastest growing companies between 2018-2021 out of 1000 companies reached the final stage that were identified with high growth. Growth has been our main goal in the past three years, and we believe that the recognition by a leading international data company and Israel's leading financial publication is a validation of our continuous efforts, and success in achieving our missions" said Shachar Daniel, Safe-T's Chief Executive Officer.
"We established a scalable network, and a range of products and technologies, which allow us to expand our reach, support enterprise customers and private consumers, and generate consecutive growth, year after year. From January through September this year, we presented a growth of over 109% compared to the same period of 2021. Safe-T is well positioned in the enormous market of privacy and cybersecurity, and we plan to continue to manage our business efficiently to improve growth and profitability" Mr. Daniel added.
Safe-T finished the year of 2018 with $1.4 million in revenues, while revenues for the year 2021 amounted to $10.3 million, representing a CAGR of over 91%. Momentum continues into 2022 as revenues for the nine months ended September 30, 2022, reached a record high of $13.6 million, already significantly exceeding full-year 2021 revenues.
“The Fastest Growing Companies in Israel" is a list of the top 100 companies, which rank is based on CAGR (compound annual growth rate) for the period between 2018 and 2021. This is the second year in which Globes is publishing the ranking of Statista's fastest growing companies in Israel. The ranking was based on extensive research of thousands of private and public companies. Criteria included revenues for the years 2018 through 2021, organic growth, CAGR and more.
The full rank is available here.
Statista is one of the world's leading data platforms for analyzing strategic markets, statistics, and providing research findings. Statista, which is headquartered in Germany and was founded in 2007, has more than 1,000 employees in 12 cities worldwide. Statista's Research & Analysis Department conducts analyses and research for its customers, who include multinational corporations, more than 2,000 universities and technical schools, leading consultancy and management companies, advertising agencies, trade organizations, banks and financial institutions, political NGOs and many others.
About Safe-T Group Ltd.
Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. The Company operates in three distinct segments: enterprise cyber-security solutions, enterprise privacy solutions, and consumer cyber-security and privacy solutions.
Our cybersecurity and privacy solutions for consumers provide a wide security blanket against ransomware, viruses, phishing, and other online threats as well as a powerful, secured, and encrypted connection, masking their online activity and keeping them safe from hackers. The solutions are designed for advanced and basic users, ensuring full personal protection for all personal and digital information.
Our privacy solutions for enterprises are based on our world’s fastest and most advanced and secured proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web using a unique hybrid network. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
The ZoneZero® cybersecurity solutions for enterprises are available by our reseller, TerraZone Ltd., a global information security provider, as a solution or cloud service. The solutions, designed for cloud, on-premises and hybrid networks, mitigates attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organizational data access, storage and exchange use cases, from outside the organization or within, are secured according to the “validate first, access later” philosophy of Safe-T’s zero trust.
For more information about Safe-T, visit www.safetgroup.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this press release when it discusses its ability to expand its reach, support enterprise customers and private consumers and generate consecutive growth, year after year, as well as its ability to manage its business efficiently to improve growth. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 29, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Safe-T is not responsible for the contents of third-party websites.
INVESTOR RELATIONS CONTACTS:
Michal Efraty
+972-(0)52-3044404
investors@safetgroup.com
- Safe-T Group Reports growth of 109% Achieving Revenues of $13.6 Million for the First Nine Months of 2022, Exceeding Full-Year 2021 Revenues
Nov 29, 2022
Adjusted EBITDA Loss reduced dramatically in the 3rd quarter of 2022
Funding Initiatives Add Over $4 Million on Top of September 30, 2022 Capital Resources to Support Continued Growth
HERZLIYA, Israel, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Safe-T Group Ltd.(Nasdaq: SFET) (TASE: SFET) (“Safe-T” or the “Company”), a global provider of cyber-security and privacy solutions to consumers and enterprises, today announced record financial results for the nine-month period ended September 30, 2022.
Key highlights for the nine months ended September 30, 2022:
Revenues for the nine months ended September 30, 2022 reached a record high of $13,610,000, an increase of 109% compared to the nine-month period ended September 30, 2021- exceeding full-year 2021 revenuesIn the three months ended September 30, 2022, revenues totaled a company record of $4,812,000, an increase of 42% compared to the three months ended September 30, 2021.Gross profit for the nine-month period ended September 30, 2022 amounted to $7,360,000, an increase of 143% compared to the corresponding period in 2021. For the three-month period ended September 30, 2022, gross profit amounted to $2,627,000, an increase of $47% compared to the corresponding period in 2021.Operating expense reduction efforts resulted in a 25% reduction in net loss and a 30% decrease in Adjusted EBITDA Loss (Loss before interest, taxes, depreciation and amortization and other metrics, as defined below) in the third quarter of 2022 compared to the second quarter of 2022.The Company's privacy enterprises business reached break-even operating results (excluding recently eliminated legal expenses).Following quarter end, the Company completed a 10 for 1 reverse split of its American Depositary Shares and regained compliance with Nasdaq minimum bid price rule.
"We finished another successful quarter, aggregating seven consecutive quarters of growth in revenue. Despite current challenging and volatile markets, we were able to maintain the Company's progress while financing our business and supporting our growth through non-dilutive credit line from a leading Israeli bank and through a strategic revenue-share model financing from an industry expert. These fundings were realized by the bank and the strategic investor, following validations which concluded that investing in the purchase of consumers, is a future asset (customers) with a high future return. During the third quarter we invested $1.2 million in costumer' acquisition, which has already returned 20% of the investment. As we previously mentioned in our business models, we believe that these investments will generate millions in future revenues," said Shachar Daniel, Chief Executive Officer of Safe-T.
"In addition, we were able to improve the efficiency of the Company's operations and reduce the net loss in the third quarter by approximately 36% compared to the third quarter of 2021, while keeping the high organic growth and onboarding customers that will yield future revenues. We believe that in order to serve the Company’s goals and our shareholders interest, we need to continue to grow our business, further optimize and perfect our operations, and choose the correct ways to fuel our businesses. We will continue to strive to achieve all of these goals and believe that it will create greater value for our shareholders," Mr. Daniel added.
Third Quarter 2022 Highlights and Recent Business Developments:
Non-diluting funding, investment in consumer acquisition and reduction in net loss:
Net IFRS loss was $2.4 million representing reduction of 36%, compared to net loss of $3,723,000 in the same period of 2021.Adjusted EBITDA Loss was reduced dramatically in the third quarter of 2022 to $1.6 million, down 49% from the Adjusted EBITDA Loss in same period of 2021.On October 31, 2022, the Company secured the additional $2 million funding for its customer acquisition program out of the strategic investment of up to $4 million; the successful customer acquisition program allowed the waiver by the investor of the milestone conditions for the second part of the funding.In the second quarter, the Company secured a $2 million non-dilutive credit line facility from United Mizrahi-Tefahot Bank Ltd.
NetNut - the Company’s enterprise privacy business
Consecutive months of growth and business expansion:
Enterprise privacy business turns profitable, and marks three record revenue months.Cybersecurity - NetNut enabled its new enterprise cybersecurity customers to identify potential cyber-attacks.NetNut launched its new mobile IP Proxy network with sales to first three customers.NetNut’s network doubled usage volume within one month with more than 36 billion requests processed.E-commerce - NetNut successfully gained increased traction among E-commerce customers in preparation for November shopping events.Anti-fraud solution - NetNut won three new leading customers to use its advanced solution for advertising fraud detection, mitigation, and prevention.
CyberKick - the Company’s consumer privacy business
Gaining users traction in multiple platforms:
The Company’s consumer privacy platforms reached over 5 million downloads.Safe-T’s privacy application ranked among top ten privacy applications in the U.S. App Store.Expanded consumer privacy solution portfolio with new application for Android users.Launched its consumer privacy solution for Microsoft Windows.
Financial Results for the Three Months Ended September 30, 2022:
Total revenues amounted to $4,812,000 (Q3.2021: $3,377,000). The growth is attributed to the organic increase in enterprise privacy business and consumers business revenues.Cost of revenues totaled $2,185,000 (Q3.2021: $1,594,000). The increase is a result of the cost of the resources required in order to generate the increased revenues – mainly traffic acquisitions costs, internet service providers costs and clearing costs.Research and development expenses totaled $972,000 (Q3.2021: $1,388,000). The decrease is attributed mainly to a reduction in research and development expenses of the enterprise security segment, as well as a decrease in share-based payments.Sales and marketing expenses totaled $3,027,000 (Q3.2021: $3,109,000). The decrease stems from a reduction in the sales and marketing expenses of the enterprise security segment, which was partially offset by the increase in media costs of the consumer segment.General and administrative expenses totaled $1,097,000 (Q3.2021: $1,827,000). The decrease is mainly due to lower professional consulting fees, predominantly legal, in connection with patent-related proceedings, which were resolved by a settlement on May 17, 2022.As a result, net loss totaled $2,370,000, or $0.07 basic loss per ordinary share (Q3.2021: net loss of $3,723,000, or $0.12 basic loss per ordinary share).Adjusted EBITDA Loss totaled of $1,677,000 (Q3.2021: Adjusted EBITDA Loss of $3,266,000).
Financial Results for the Nine Months Ended September 30, 2022:
Total revenues amounted to $13,610,000 (Q1-Q3.2021: $6,508,000). The growth is attributed to the increase in enterprise privacy business revenues and the consolidation of CyberKick’s revenues fully in 2022 compared to partial consolidation in the equivalent period in 2021 following the completion of its acquisition on July 4, 2021.Cost of revenues totaled $6,250,000 (Q1-Q3.2021: $3,477,000). The increase is mainly a result of the full consolidation of CyberKick’s cost of revenues, primarily traffic acquisition costs for third party products and clearing costs, in 2022, compared to partial consolidation in the equivalent period in 2021.Research and development expenses totaled $3,255,000 (Q1-Q3.2021: $2,871,000). The increase is attributed to the full consolidation of CyberKick’s research and development expenses in 2022 and the development of new products, compared to partial consolidation in the equivalent period in 2021. The increase was partially offset by a reduction in the research and development expenses of the enterprise security segment.Sales and marketing expenses totaled $8,685,000 (Q1-Q3.2021: $5,539,000). The increase is primarily attributed to the full consolidation of CyberKick’s sales and marketing expenses, primarily its media costs, in 2022, compared to partial consolidation in the equivalent period in 2021. The increase was partially offset by a reduction in the sales and marketing expenses of the enterprise security segment.General and administrative expenses totaled $5,346,000 (Q1-Q3.2021: $4,414,000). The increase is mainly due to higher professional consulting fees, predominantly legal, in connection with patent-related proceedings, which were resolved by settlement on May 17, 2022, as well as the full consolidation of CyberKick’s general and administrative expenses in 2022 compared to partial consolidation in the equivalent period in 2021.As a result, net loss totaled $10,255,000, or $0.33 basic loss per ordinary share (Q1-Q3.2021: net loss of $8,605,000, or $0.32 basic loss per ordinary share).Adjusted EBITDA Loss totaled $7,242,000 (Q1-Q3.2021: Adjusted EBITDA Loss of $7,329,000).
We define Adjusted EBITDA Loss as net loss before depreciation and amortization, interest and tax, as further adjusted to remove the impact of (i) impairment of intangible assets and goodwill; (ii) share-based compensation expense; (iii) contingent consideration; and (iv) issuance costs in connection with our securities offerings.
The following table presents the reconciled effect of the above on the Company’s Adjusted EBITDA Loss for the three- and nine-months periods ended September 30, 2022 and 2021, and for the year ended December 31, 2021:
For the Nine-Month
Period Ended
September 30,For the Three-Month
Period Ended
September 30,For the year Ended
December 31,(thousands of U.S. dollars)20222021202220212021 Net loss for the period(10,255)(8,605)(2,370)(3,723)(13,125)Adjustments: Depreciation and amortization 1,323 1,063 445 440 1,511 Finance income, net (25) (445) (35) (585) (942)Tax benefit (215) (153) (64) (77) (945)EBITDA (9,172) (8,140) (2,024) (3,945) (13,501)Adjustments: Impairment of goodwill 569 - - - 700 Contingent consideration measurement - (590) - (156) (684)Share-based compensation 1,361 1,401 347 835 2,356 Adjusted EBITDA loss(7,242)(7,329)(1,677)(3,266)(11,129)
Balance Sheet Highlights:
As of September 30, 2022, shareholders’ equity totaled $15,737,000, or approximately $0.48 per outstanding American Depository Share, compared to shareholders’ equity of $24,187,000 on December 31, 2021. The reduction is mainly due to the Company’s operating loss during the period.As of September 30, 2022, the Company’s cash and cash equivalents balance aggregated to $3,865,000, compared to $3,828,000 on December 31, 2021. The Company’s cash balance does not account for up to an additional $4.3 million in funds under its recently secured credit facility and investment financing.
Additional details on the Company’s financials, products and strategy are available on the Company’s website here.
Use of Non-IFRS Financial Results
In addition to disclosing financial results calculated in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board, this press release contains non-IFRS financial measures of EBITDA and Adjusted EBITDA Loss for the periods presented that exclude depreciation and amortization, interest and tax, as further adjusted for the effect of impairment of goodwill, contingent consideration adjustments and share-based compensation expenses. The Company’s management believes the non-IFRS financial information provided in this release is useful to investors’ understanding and assessment of the Company’s ongoing operations. Management also uses both IFRS and non-IFRS information in evaluating and operating its business internally, and as such deemed it important to provide this information to investors. The non-IFRS financial measures disclosed by the Company should not be considered in isolation, or as a substitute for, or superior to, financial measures calculated in accordance with IFRS, and the financial results calculated in accordance with IFRS and reconciliations to those financial statements should be carefully evaluated. Investors are encouraged to review the reconciliations of these non-IFRS measures to their most directly comparable IFRS financial measures provided in the financial statement tables herein.
Third Quarter 2022 Financial Results Conference Call
Mr. Shachar Daniel, Chief Executive Officer of Safe-T, and Mr. Shai Avnit, Chief Financial Officer of Safe-T, will host a conference call today, on November 29, 2022, at 08:30 a.m. ET, to discuss the third quarter of 2022 financial results, followed by a Q&A session.
To attend the conference call, please dial one of the following teleconferencing numbers. Please begin by placing your call five minutes before the conference call commences. If you are unable to connect using the toll-free number, please try the international dial-in number:
Date:Tuesday, November 29, 2022Time:08:30 a.m. Eastern time, 05:30 a.m. Pacific timeToll-free dial-in number:1-877-407-0789Israel Toll Free:1-809-406-247International dial-in number:1-201-689-8562Conference ID:13734544
Participants will be required to state their name and company upon entering the call. If you have any difficulty connecting with the conference call, please contact Michal Efraty on behalf of Safe-T at ++972-(0)-52-3044404.
The conference call will be broadcast live and available for replay here .
A replay of the conference call will be available after 11:30 a.m. Eastern time through December 27, 2022:
Toll-free replay number:1-844-512-2921International replay number:1-412-317-6671Replay ID:13734544
About Safe-T Group Ltd.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. The Company operates in three distinct segments - consumer cyber-security and privacy solutions, enterprise privacy solutions and enterprise cyber-security solutions.
Our cyber-security and privacy solutions for consumers provide a wide security blanket against ransomware, viruses, phishing, and other online threats, as well as a powerful, secured and encrypted connection, masking their online activity and keeping them safe from hackers. The solutions are designed for both advanced and basic users, ensuring full protection for all personal and digital information.
Our privacy solutions for enterprises are based on our world’s fastest and most advanced and secured proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web using a unique hybrid network. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
Our cyber-security solutions for enterprises, designed for cloud, on-premises and hybrid networks, mitigates attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organizational data access, storage and exchange use cases, from outside the organization or within, are secured according to the “validate first, access later” philosophy of Safe-T’s zero trust. Our ZoneZero® solutions are available by our reseller, TerraZone Ltd., a global information security provider, as a solution or cloud service.
For more information about Safe-T, visit www.safetgroup.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this press release when it discusses its expectation that ongoing expense reduction efforts will drive improved operation results, the Company’s expectations regarding its growth, its ability to optimize and perfect its operations, its progress and prospects, its expectations regarding the benefits of investing in the purchase of consumers, its expectations regarding future revenues, or that its activities will create greater value for its shareholders. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 29, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Safe-T is not responsible for the contents of third-party websites.
INVESTOR RELATIONS CONTACTS:
Michal Efraty
+972-(0)52-3044404
michal@efraty.com
Consolidated Statements of Financial Position
(In thousands of USD)
September 30,December 31, 202220212021 (Unaudited)(Audited)Assets Current assets: Cash and cash equivalents 3,865 6,899 3,828 Short-term restricted deposit 559 - - Short-term investments - 6,048 5,887 Trade receivables 1,096 1,069 1,496 Other receivables 537 660 713 Total current assets6,05714,67611,924 Non-current assets: Long-term restricted deposits 147 90 84 Long-term deposit 73 67 65 Other non-current assets 222 - - Property and equipment, net 119 127 119 Right of use assets 263 532 451 Goodwill 10,429 11,698 10,998 Intangible assets, net 5,749 7,441 7,013 Total non-current assets17,00219,95518,730Total assets23,05934,63130,654 Liabilities and equity Current liabilities: Trade payables 2,230 683 1,219 Other payables 1,951 2,519 2,839 Current maturities of long-term loan 441 - - Short-term bank loans 700 - - Contract liabilities 582 341 514 Contingent consideration - 94 - Derivative financial instruments 161 985 488 Short-term lease liabilities 257 371 365 Total current liabilities6,3224,9935,425 Non-current liabilities: Long-term loan 342 - - Long-term contract liabilities 4 25 18 Long-term lease liabilities 36 273 197 Deferred tax liabilities 413 1,418 645 Liability in respect of the Israeli Innovation Authority 205 170 182 Total non-current liabilities1,0001,8861,042Total liabilities7,3226,8796,467 Equity: Ordinary shares - - - Share premium 94,897 90,968 91,112 Other equity reserves 14,752 15,921 16,732 Accumulated deficit (93,912) (79,137) (83,657)Total equity15,73727,75224,187Total liabilities and equity23,05934,63130,654
Consolidated Statements of Profit or Loss
(In thousands of USD, except per share amounts)
For the Nine Months
Ended
September 30,For the Three Months
Ended
September 30,For the Year Ended December 31, 20222021202220212021 (Unaudited)(Unaudited)(Unaudited)(Unaudited)(Audited) Revenues 13,610 6,508 4,812 3,377 10,281 Cost of revenues 6,250 3,477 2,185 1,594 5,145 Gross profit 7,360 3,031 2,627 1,783 5,136 Research and development expenses 3,255 2,871 972 1,388 4,771 Sales and marketing expenses 8,685 5,539 3,027 3,109 8,348 General and administrative expenses 5,346 4,414 1,097 1,827 7,013 Impairment of goodwill 569 - - - 700 Contingent consideration measurement - (590) - (156) (684)Operating expenses 17,855 12,234 5,096 6,168 20,148 Operating loss (10,495) (9,203) (2,469) (4,385) (15,012) Finance income, net 25 445 35 585 942 Tax benefit 215 153 64 77 945 Net loss(10,255)(8,605)(2,370)(3,723)(13,125) Basic loss per share (0.33) (0.32) (0.07) (0.12) (0.48) Diluted loss per share (0.33) (0.32) (0.07) (0.13) (0.48)
- Safe-T Group: NetNut Enables its New Enterprise Cybersecurity Customers to Identify Potential Cyber Attacks
Nov 25, 2022
HERZLIYA, Israel, Nov. 25, 2022 (GLOBE NEWSWIRE) -- Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) (“Safe-T” or the “Company”), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today announced that NetNut Ltd., the Company's wholly owned subsidiary and enterprise privacy network (“NetNut”), is expanding the use case range of its product offering into a new market segment with the addition of new leading cybersecurity firms to its customers portfolio. NetNut’s network allows cybersecurity companies that are providing open-source intelligence (OSINT) services as well as vulnerability assessment and penetration testing services, to carry out their operations in a smooth and scalable manner by using NetNut' leading solution.
“Our products performance, productivity and reliability combined with our strong business development team, attracts new customers from additional high potential sectors," said Eitan Bremler, VP Product Strategy, Marketing at Safe-T. "The privacy and cybersecurity sectors share much in common, and we have been able to leverage our expertise and attract new customers. According to the latest Fortune Business Insights report, the global cybersecurity market is projected to grow from US$155.8 billion in 2022 to US$376 billion by 2029, exhibiting a CAGR of 13.4% during such period1. It is surely a tremendous market with great opportunity, and we are proud to enter this market and anchor it as one of our growth channels. Our solution provides cyber security companies with the ultimate tool to identify potential threats and potentially prevent future attacks.”
NetNut recently announced it has doubled its usage volume and processed over 36 billion customer's requests. The sharp increase in volume is a result of the onboarding of several strategic customers, as well as the expansion of NetNut's network and its ability to process billions of requests.
About NetNut Ltd.
NetNut Ltd., a wholly owned subsidiary of Safe-T Group Ltd., is a provider of fast, reliable and scalable proxy solutions for all web scraping and web data extraction requirements. By utilizing a dynamic network and delivering optimized IP pools, NetNut is the ultimate solution for scraping and collecting web data at high speed and lower rates. NetNut’s use cases includes web data extraction, market research, Search Engine Optimization (SEO) monitoring and Search Engine Results Page (SERP) tracking, price comparison, social media management (SMM), advertising verification, brand protection, travel aggregation and more. NetNut’s proxy network comprises exit points based on its proprietary reflection technology and hundreds of servers located at its ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
About Safe-T Group Ltd.
Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. The Company operates in three distinct segments: enterprise cyber-security solutions, enterprise privacy solutions, and consumer cyber-security and privacy solutions.
Our cybersecurity and privacy solutions for consumers provide a wide security blanket against ransomware, viruses, phishing, and other online threats as well as a powerful, secured, and encrypted connection, masking their online activity and keeping them safe from hackers. The solutions are designed for advanced and basic users, ensuring full personal protection for all personal and digital information.
Our privacy solutions for enterprises are based on our world’s fastest and most advanced and secured proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web using a unique hybrid network. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
Our cybersecurity solutions for enterprises, designed for cloud, on-premises and hybrid networks, mitigates attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organizational data access, storage and exchange use cases, from outside the organization or within, are secured according to the “validate first, access later” philosophy of Safe-T’s zero trust. Our ZoneZero® solutions are available by our reseller, TerraZone Ltd., a global information security provider, as a solution or cloud service.
For more information about Safe-T, visit www.safetgroup.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this press release when it discusses the expansion of the use case range of NetNut’s product offering into a new market segment, its network’s performance, productivity and reliability, the ability of NetNut’s solution to address market needs, identify potential threats and potentially prevent future attacks, and the ability to attract new customers. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 29, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
INVESTOR RELATIONS CONTACTS:
Michal Efraty
+972-(0)52-3044404
investors@safetgroup.com
1 https://www.fortunebusinessinsights.com/industry-reports/cyber-security-market-101165
- Safe-T Group Regains Compliance with Nasdaq Minimum Closing Bid Price Rule
Nov 23, 2022
HERZLIYA, Israel, Nov. 23, 2022 (GLOBE NEWSWIRE) -- Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) (“Safe-T” or the “Company”), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today reported the receipt of a formal notification from The Nasdaq Stock Market LLC ("Nasdaq") that the Company has regained compliance with Listing Rule 5450(a)(1), which requires the Company's American Depositary Shares (“ADS”) to maintain a minimum bid price of $1.00 per share.
The Nasdaq staff made this determination of compliance after the closing bid price of the Company's ADSs was at $1.00 per share or greater for the prior 10 consecutive business days. Accordingly, the Company has regained compliance with Nasdaq Listing Rule 5450(a)(1) and Nasdaq considers the prior bid price deficiency matter now closed.
About Safe-T Group Ltd.
Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. The Company operates in three distinct segments: enterprise cyber-security solutions, enterprise privacy solutions, and consumer cyber-security and privacy solutions.
Our cybersecurity and privacy solutions for consumers provide a wide security blanket against ransomware, viruses, phishing, and other online threats as well as a powerful, secured, and encrypted connection, masking their online activity and keeping them safe from hackers. The solutions are designed for advanced and basic users, ensuring full personal protection for all personal and digital information.
Our privacy solutions for enterprises are based on our world’s fastest and most advanced and secured proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web using a unique hybrid network. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
Our cybersecurity solutions for enterprises, designed for cloud, on-premises and hybrid networks, mitigates attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organizational data access, storage and exchange use cases, from outside the organization or within, are secured according to the “validate first, access later” philosophy of Safe-T’s zero trust. Our ZoneZero® solutions are available by our reseller, TerraZone Ltd., a global information security provider, as a solution or cloud service.
For more information about Safe-T, visit www.safetgroup.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this press release when it discusses maintaining compliance with Nasdaq’s continued listing requirements. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 29, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
INVESTOR RELATIONS CONTACTS:
Michal Efraty
+972-(0)52-3044404
investors@safetgroup.com
- Safe-T Group: NetNut Launches its New Mobile IP Proxy Network with Sales to First Three Customers
Nov 18, 2022
HERZLIYA, Israel, Nov. 18, 2022 (GLOBE NEWSWIRE) -- Safe-T Group Ltd. (NASDAQ: SFET) (TASE: SFET) (“Safe-T” or the “Company”), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today announced that its wholly owned subsidiary and enterprise privacy unit, NetNut Ltd. (“NetNut”), has expanded its product range with its latest Mobile IP Proxy Network.
NetNut has won its three first customers that have started using the new Mobile IP Proxy Network.
“We are proud to announce our expansion to the mobile enterprise privacy sector,” said Shachar Daniel, Chief Executive Officer of Safe-T. “the launch of our mobile IP proxy network follows a series of cutting-edge products that we lunched this year. The growing demand for our solutions is supporting our overall continued growth, and we anticipate that it will be reflected in our future performance."
About NetNut Ltd.
NetNut Ltd., a wholly owned subsidiary of Safe-T Group Ltd., is a provider of fast, reliable and scalable proxy solutions for all web scraping and web data extraction requirements. By utilizing a dynamic network and delivering optimized IP pools, NetNut is the ultimate solution for scraping and collecting web data at high speed and lower rates. NetNut’s use cases includes web data extraction, market research, Search Engine Optimization (SEO) monitoring and Search Engine Results Page (SERP) tracking, price comparison, social media management (SMM), advertising verification, brand protection, travel aggregation and more. NetNut’s proxy network comprises exit points based on its proprietary reflection technology and hundreds of servers located at its ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
About Safe-T® Group Ltd.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. The Company operates in three distinct segments: enterprise cyber-security solutions, enterprise privacy solutions, and consumer cyber-security and privacy solutions.
Our cyber-security and privacy solutions for consumers provide a wide security blanket against ransomware, viruses, phishing, and other online threats, as well as a powerful, secured, and encrypted connection, masking their online activity and keeping them safe from hackers. The solutions are designed for both advanced and basic users, ensuring full protection for all personal and digital information.
Our privacy solutions for enterprises are based on our world’s fastest and most advanced and secured proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web using a unique hybrid network. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
Our cyber-security solutions for enterprises, designed for cloud, on-premises, and hybrid networks, mitigates attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organizational data access, storage, and exchange use cases, from outside the organization or within, are secured according to the “validate first, access later” philosophy of Safe-T’s zero trust. Our ZoneZero® solutions are available by our reseller, TerraZone Ltd., a global information security provider, as a solution or cloud service.
For more information about Safe-T, visit www.safetgroup.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this press release when it discusses the expansion of NetNut’s product range with the latest Mobile IP Proxy Network, the growing demand for its solutions, the overall continued growth and the anticipation that such growth will be reflected in its future performance. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 29, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Safe-T is not responsible for the contents of third-party websites.
INVESTOR RELATIONS CONTACTS:
Michal Efraty
+972-(0)52-3044404
michal@efraty.com
- Safe-T Group to Release Third Quarter 2022 Financial Results on November 29, 2022
Nov 17, 2022
The Company Will Host a Conference Call on Tuesday, November 29, 2022, at 08:30 a.m. Eastern Time
HERZLIYA, Israel, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) (“Safe-T” or the “Company”), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today announces it will release its financial results for the third quarter ended September 30, 2022, before the Nasdaq market opens on Tuesday, November 29, 2022.
Mr. Shachar Daniel, Chief Executive Officer, and Mr. Shai Avnit, Chief Financial Officer, will host a conference call on November 29, 2022, at 08:30 a.m. ET, to discuss the financial results, followed by a Q&A session.
To attend the conference call, please dial one of the following teleconferencing numbers. Please begin by placing your call five minutes before the conference call commences. If you are unable to connect using the toll-free number, please try the international dial-in number:
Date: Tuesday, November 29, 2022
Time: 08:30 a.m. Eastern time, 05:30 a.m. Pacific time
Toll-free dial-in number: 1-877-407-0789
Israel Toll Free: 1 809 406 247
International dial-in number: 1-201-689-8562
Conference ID: 13734544
Participants will be required to state their name and company upon entering the call. If you have any difficulty connecting with the conference call, please contact Michal Efraty on behalf of Safe-T at +972-523044404.
The conference call will be broadcast live and available for replay here.
A replay of the conference call will be available after 11:30 a.m. Eastern time through December 27, 2022.
Toll-free replay number: 1-844-512-2921
International replay number: 1-412-317-6671
Replay ID: 13734544
About Safe-T Group Ltd.
Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. The Company operates in three distinct segments: enterprise cyber-security solutions, enterprise privacy solutions, and consumer cyber-security and privacy solutions.
Our cybersecurity and privacy solutions for consumers provide a wide security blanket against ransomware, viruses, phishing, and other online threats as well as a powerful, secured, and encrypted connection, masking their online activity and keeping them safe from hackers. The solutions are designed for advanced and basic users, ensuring full personal protection for all personal and digital information.
Our privacy solutions for enterprises are based on our world’s fastest and most advanced and secured proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web using a unique hybrid network. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
Our cybersecurity solutions for enterprises, designed for cloud, on-premises and hybrid networks, mitigates attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organizational data access, storage and exchange use cases, from outside the organization or within, are secured according to the “validate first, access later” philosophy of Safe-T’s zero trust. Our ZoneZero® solutions are available by our reseller, TerraZone Ltd., a global information security provider, as a solution or cloud service.
For more information about Safe-T, visit www.safetgroup.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this press release when it discusses the timing of releasing financial results and the timing of the respective conference call. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 29, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
INVESTOR RELATIONS CONTACTS:
Michal Efraty
+972-(0)52-3044404
investors@safetgroup.com
- Safe-T Group: NetNut's Network Doubles Usage Volume Within 1 Month with More Than 36 Billion Requests Processed
Nov 11, 2022
HERZLIYA, Israel, Nov. 11, 2022 (GLOBE NEWSWIRE) -- Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) (“Safe-T” or the “Company”), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today announced a surge in NetNut Ltd., the Company's subsidiary and enterprise privacy network (“NetNut”), that doubled its usage volume and processed over 36 billion customer's requests. The sharp increase in volume is a result of the onboarding of several strategic customers, as well as the expansion of NetNut's network and its ability to process record breaking amounts of requests.
In addition, NetNut achieved three record revenue months, transitioning the business to profitability. The recent growth in revenues is attributed to an increase in activity with major customers in the Counter Ad-Fraud market.
“NetNut's robust network is one of the strongest and most reliable in the market. The scalable infrastructure we redesigned in the past few months, enables us to meet growing demands and continue to scale as we expand with our partners and customers. The latest spike in usage and its ability to handle an over 100% increase in traffic loads within a short period of time, is a vote of confidence for its ability to scale the client’s businesses without affecting their performance," stated Shachar Daniel, Chief Executive Officer of Safe-T. "Having a network that supports vast amounts of requests and generates record revenues is something we are very proud of. It is our goal to continue to grow our customer base by utilizing our well-established platform".
Safe-T’s enterprise privacy unit, NetNut, provides businesses with the ability to gather mass amounts of public web data fast. The Company has invested significant resources in re-designing its network architecture in recent months.
About NetNut Ltd.
NetNut Ltd., a wholly owned subsidiary of Safe-T Group Ltd., is a provider of fast, reliable and scalable proxy solutions for all web scraping and web data extraction requirements. By utilizing a dynamic network and delivering optimized IP pools, NetNut is the ultimate solution for scraping and collecting web data at high speed and lower rates. NetNut’s use cases includes web data extraction, market research, Search Engine Optimization (SEO) monitoring and Search Engine Results Page (SERP) tracking, price comparison, social media management (SMM), advertising verification, brand protection, travel aggregation and more. NetNut’s proxy network comprises exit points based on its proprietary reflection technology and hundreds of servers located at its ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
About Safe-T Group Ltd.
Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. The Company operates in three distinct segments: enterprise cyber-security solutions, enterprise privacy solutions, and consumer cyber-security and privacy solutions.
Our cybersecurity and privacy solutions for consumers provide a wide security blanket against ransomware, viruses, phishing, and other online threats as well as a powerful, secured, and encrypted connection, masking their online activity and keeping them safe from hackers. The solutions are designed for advanced and basic users, ensuring full personal protection for all personal and digital information.
Our privacy solutions for enterprises are based on our world’s fastest and most advanced and secured proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web using a unique hybrid network. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
Our cybersecurity solutions for enterprises, designed for cloud, on-premises and hybrid networks, mitigates attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organizational data access, storage and exchange use cases, from outside the organization or within, are secured according to the “validate first, access later” philosophy of Safe-T’s zero trust. Our ZoneZero® solutions are available by our reseller, TerraZone Ltd., a global information security provider, as a solution or cloud service.
For more information about Safe-T, visit www.safetgroup.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this press release when it discusses NetNut’s strong and reliable position in the market, its network usage volume, NetNut’s unaudited estimates of revenues, revenue growth and transition to profitability, and NetNut’s ability to meet growing demands, including its ability to scale up its client’s business without impact to their performance. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 29, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
The Company is providing revenue estimates in this press release, rather than final amounts, primarily because the financial closing process and review are not yet complete and, as a result, the Company’s final results upon completion of its closing process and review may vary from these preliminary estimates.
INVESTOR RELATIONS CONTACTS:
Michal Efraty
+972-(0)52-3044404
investors@safetgroup.com
- E-commerce Customers Recognize Safe-T Group's Enterprise Privacy Unit, NetNut, in Time for November Shopping Events
Nov 8, 2022
"NetNut has become a major infrastructure provider for us at Crystal Ball Systems, Inc. It's speed and performance allow us to support our thousands of clients"
HERZLIYA, Israel, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) (“Safe-T” or the “Company”), a global provider of cybersecurity and privacy solutions to consumers and enterprises, today announced that its enterprise privacy unit, NetNut Ltd. (a wholly owned subsidiary of Safe-T), is successfully gaining increased traction among E-commerce customers in preparation for November shopping events. NetNut is a provider of proxy solutions to some of the world’s most renown platforms and brands, as well as of many providers of E-commerce solutions.
"One of the most undeniable online trends is the rise of shopping through E-commerce platforms during the month of November and the coming holidays. Most E-commerce platforms rely on vast amounts of data in real-time to constantly analyze competitors’ products, prices, and shipping costs," commented Shachar Daniel, Chief Executive Officer of Safe-T. "The ability to gather such important competitive information is made possible with the use of NetNut's solutions and its advanced worldwide proxy network."
Michael Abrams, Chief Executive Officer and Founder of Crystal Ball Systems Inc., NetNut's customer, said, "NetNut has become a major infrastructure provider for us at Crystalball Systems Inc. Its speed and performance allow us to provide our thousands of clients with real-time accurate E-commerce data. We are excited to work with NetNut towards the very busy and successful shopping month of November".
About NetNut Ltd.
NetNut Ltd., a wholly owned subsidiary of Safe-T Group Ltd., is a provider of fast, reliable and scalable proxy solutions for all web scraping and web data extraction requirements. By utilizing a dynamic network and delivering optimized IP pools, NetNut is the ultimate solution for scraping and collecting web data at high speed and lower rates.
NetNut’s use cases includes web data extraction, market research, Search Engine Optimization (SEO) monitoring and Search Engine Results Page (SERP) tracking, price comparison, social media management (SMM), advertising verification, brand protection, travel aggregation and more. NetNut’s proxy network comprises exit points based on its proprietary reflection technology and hundreds of servers located at its ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
About Safe-T Group Ltd.
Safe-T Group Ltd. (Nasdaq: SFET) (TASE: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. The Company operates in three distinct segments: enterprise cyber-security solutions, enterprise privacy solutions, and consumer cyber-security and privacy solutions.
Our cybersecurity and privacy solutions for consumers provide a wide security blanket against ransomware, viruses, phishing, and other online threats as well as a powerful, secured, and encrypted connection, masking their online activity and keeping them safe from hackers. The solutions are designed for advanced and basic users, ensuring full personal protection for all personal and digital information.
Our privacy solutions for enterprises are based on our world’s fastest and most advanced and secured proxy network, enabling our customers to collect data anonymously at any scale from any public sources over the web using a unique hybrid network. Our network comprises both exit points based on our proprietary reflection technology and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service.
Our cybersecurity solutions for enterprises, designed for cloud, on-premises and hybrid networks, mitigates attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organizational data access, storage and exchange use cases, from outside the organization or within, are secured according to the “validate first, access later” philosophy of Safe-T’s zero trust. Our ZoneZero® solutions are available by our reseller, TerraZone Ltd., a global information security provider, as a solution or cloud service.
For more information about Safe-T, visit www.safetgroup.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this press release when it discusses E-commerce market trends, the benefits of its proxy solutions and their potential to address market need and/or demand. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 29, 2022, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
INVESTOR RELATIONS CONTACTS:
Michal Efraty
+972-(0)52-3044404
investors@safetgroup.com
