CISO Global Inc. (NASDAQ: CISO), an industry leader as a managed cybersecurity, compliance and proprietary software provider, has released its preliminary estimated financial information for the fiscal year ending Dec. 31, 2023. According to the report, the company saw its highest annual revenue in history in 2023. Highlights of the report include $57.1 million in estimated total revenue for the year, a 23% increase compared to $46.5 million total revenue reported for FY 2022; and ($13.8) million in estimated Adjusted EBITDA, a decrease of $1.2 million, or 9%, compared to ($12.6) million for 2022; an estimated Adjusted EBITDA margin of (24.2%), an improvement of 11%, for the quarter ending Dec. 31, 2023, compared to (27.1%) for the same quarter in 2022. The company also reported that it entered into a credit facility with Aion Financial Technologies Inc. for a revolving line of credit of $3.5 million.
“These estimated results reflect our highest annual revenue ever, which we believe are a result of careful strategic planning and execution designed to maximize awareness and demonstrate our leadership in the market,” said CISO Global CEO and chair David Jemmett in the press release. “In addition, we believe we will be Adjusted EBITDA positive in the first half of the year and cash flow positive by year’s end. We look forward to providing additional details when we file our Form 10-K for fiscal year 2023, which we anticipate will be by April 16, 2024.”
To view the full press release, visit https://ibn.fm/Q5NFs
About CISO Global Inc.
CISO Global is based in Scottsdale, Arizona, and is a top 25 managed cybersecurity and compliance services provider that is delivering innovative solutions through its newly developed artificial intelligence (“AI”) and machine-learning (“ML”)-powered product portfolio. The company protects the most demanding businesses and government organizations against continuing and emerging security threats and ensures their compliance obligations are being met. For more information about the company, visit www.CISO.inc.
NOTE TO INVESTORS: The latest news and updates relating to CISO are available in the company’s newsroom at https://ibn.fm/CISO
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