Cipherpoint Limited (ASX:CPT), Sydney, Australia – provides the following business update to shareholders.
As shareholders may already be aware CPT is focused on securing the cloud and digital transformation
journeys of enterprises and government world-wide. We are dedicated to addressing these common
issues for our customers both through the provision of technical services (the latter expanded by the
recent acquisition of Brace168) and the delivery of security software solutions.
Sales and Revenues
We are very pleased to advise that the current quarter to date has seen good revenue momentum
and pipeline growth.
During the June quarter (Q1 of FY22) to date the company has secured and signed:
a. two (2) software licences for cp.Protect and our partner Nucleus Cyber’s nc.Protect software
b. six (6) purchase orders for services (for 5 new customers and 1 existing customer) covering
penetration testing, network and application monitoring and code security reviews totaling
c. two (2) renewals effective 11 May 2021 and 1 June 2021 respectively under a master service
agreement with an existing customer for both security analysis and associated services with
an estimated value (based on minimum requirements specified by the customer) over 12
months totaling $607K.
We intend provide a further update following the end of the June quarter.
Based on our current outlook, but subject to market conditions and contract timing, our target is to
reach $3m in annualized revenue run rate by the end of the September 2021.
Our sales pipeline is strong and continues to grow each quarter, reflecting the increasing demand for
cyber security and data protection solutions and services.
CPT operates in the dynamically changing and competitive cyber security marketplace. We have
previously announced relationships with NTT DATA Deutschland GmbH (Germany), dataglobal GmbH,
Nucleus Cyber Inc (US) and mostly recently XM Cyber (Israel). We intend to continue this approach of
leveraging third party relationships as part of our growth strategy.