Safe-T Group Ltd (SFET) stock declined in the current market after announcing its fourth quarter and fiscal 2021 results. SFET’s share price is $0.93, losing more than 10% compared to yesterday’s closing price. SFET stock closed at $1.03 at the end of the last trading session. SFET stock volume was around 1.19 million shares in the previous trading session. The current market cap of the company is about $95.53 million.
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SFET: Q4 and Fiscal 2021 Key Financials
- Safe-T Group Ltd (SFET) made revenue of $3.7 million in Q4.
- R&D expense was about $1.9 million in Q4. Previously in the fourth quarter of 2020, R&D expense was $754K.
- Net loss was $4.5 million, or diluted loss per share was $0.15 in Q4 2021. Previously in Q4 2020, the net loss was $5 million, or a loss per share of $0.29.
- The company’s fiscal 2021 revenue was $10.2 million.
- R&D expense was 4.7 million in fiscal 2021. In fiscal 2020 R&D expense was 2.2 million.
- For 2021, the company had a net loss of $13.12 million. There was a $0.49 per diluted share loss. In fiscal 2020, the company had a net loss of $7.8 million, or a diluted loss per share of $0.84.
- As of December 2021, the company had cash and cash equivalents of $3.8 million.
SFET: Major Achievements
- SFET bought CyberKick. The company’s consumer privacy and cybersecurity solutions have gained momentum in huge geographic regions due to the purchase.
- The company released the first iShield. It is their top consumer cybersecurity product. It adds another layer of defense against new ransomware threats.
- Their latest consumer privacy solution is approaching 15,000 subscribers in early 2022. AdBlocker Pro is a new malvertising prevention solution for Apple iOS devices.
SEFT CEO’s Remarks
According to Shachar Daniel, CEO, for the first time, Safe-yearly T’s sales have surpassed $10 million. The main contributor was the organic growth of the private business. Consumers, SMBs, and organizations are increasingly interested in cybersecurity and privacy, confirming the benefit of having different and complementary products.
With the new acquisition, the launch of iShield, and the consumer privacy solution, they are expecting robust growth in fiscal 2022. Their main focus on the privacy markets and cybersecurity in 2021 will pay in fiscal 2022.