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Cyber security firm archTIS announces record breaking quarter

The ASX-listed cyber security company confirmed that the June quarter was the company’s best performing quarterly period, with a range of new business opportunities spanning government, defence and commercial entities.

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Tue, 27 Jul 2021
Cyber security firm archTIS announces record breaking quarter
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The confirmation comes following the finalisation of the merger between archTIS and Nucleus Cyber this week, with the issuance of securities forming the final instalment of the deferred consideration.

According to a statement by the company, the record breaking quarter was driven primarily by new customer acquisition and business development across a range of industries, including government, defence and commercial sectors, with strong performance from the Kojensi and NC Protect products.

Daniel Lai, managing director and chief executive of archTIS, welcomed the company’s recent growth.

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“ArchTIS delivered a strong record-breaking quarter. We set out with a plan to scale the business through the expansion of a global sales distribution network, increased market awareness and technology-leading product innovation. This has provided shareholders with another quarter of record revenue growth, strong customer cash receipts and an increasing recurring licensing business,” Lai said.

According to a release by the company, the total unaudited revenue had increased by 80 per cent on the prior quarter to $2.26 million. Meanwhile, gross profit was reported at $1.48 million, which is an 86 per cent increase on the previous quarter.

The release also confirmed that archTIS and Nucleus Cyber had completed their full integration. The integration between the two companies includes websites, CRMs, personnel and business development pipelines and procedures.

Commenting on the company’s recent merger with Nucleus Cyber, Kurt Mueffelmann, global chief operating officer and former CEO of Nucleus Cyber, noted that the company’s complementary characteristics resulted in a smooth and successful transition.

“Having completed over 20 merger and acquisition deals in my career, the integration with archTIS was one of the smoothest. With our combined complementary products, technologies and talent, we saw an opportunity to solve these industry challenges together on a global scale. It is a true testament to both teams’ ability to embrace the strategic vision of safeguarding the world’s most sensitive information while tactically executing on the highest levels of customer satisfaction, market awareness and operational efficiencies,” Mueffelmann said.

[Related: archTIS expands operations in EMEA]

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