Estimates 62%-65% Growth in Revenues During the First Nine Months of 2020
HERZLIYA, Israel, October 14, 2020 – Safe-T® Group Ltd. (NASDAQ, TASE: SFET), a provider of secure access solutions for on-premise and hybrid cloud environments, today provided an estimated revenue range for the nine and three month periods ended September 30, 2020.
On a preliminary basis, Safe-T expects to report revenue for the nine month period ended September 30, 2020 in the range of $3.52 million to $3.57 million, an increase in the range of 62% to 65%, respectively, compared to $2.17 million during the equivalent period in 2019. On a preliminary basis, Safe-T’s third quarter 2020 revenue is expected to be in the range between $1.36 million to $1.41 million, compared to $1.349 million in the third quarter of 2019.
Safe-T expects to release the full, unaudited third quarter and nine month results by November 30, 2020.
The above information reflects preliminary estimates with respect to certain results of the Company for the nine and three month periods ended September 30, 2020, based on currently available information. The Company is providing ranges, rather than specific amounts, for these preliminary estimates primarily because the financial close 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 the preliminary estimates.
About Version 2 Limited
Version 2 Limited is one of the most dynamic IT companies in Asia. The company develops and distributes IT products for Internet and IP-based networks, including communication systems, Internet software, security, network, and media products. Through an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 Limited offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.
About Safe-T® Group Ltd.
Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a provider of Zero Trust Access solutions which mitigate attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Safe-T’s cloud and on-premises solutions ensure that an organization’s access use cases, whether into the organization or from the organization out to the internet, are secured according to the “validate first, access later” philosophy of Zero Trust. This means that no one is trusted by default from inside or outside the network, and verification is required from everyone trying to gain access to resources on the network or in the cloud.
Safe-T’s wide range of access solutions reduce organizations’ attack surface and improve their ability to defend against modern cyberthreats. As an additional layer of security, our integrated business-grade global proxy solution cloud service enables smooth and efficient traffic flow, interruption-free service, unlimited concurrent connections, instant scaling and simple integration with our services.
With Safe-T’s patented reverse-access technology and proprietary routing technology, organizations of all size and type can secure their data, services and networks against internal and external threats.