#Cybersecurity #Stock News:
Alarum (NASDAQ, TASE: $ALAR) Issues Letter to Shareholders; @AlarumTech
Tel
Aviv, Israel - February 8, 2023 (Investorideas.com Newswire) Alarum Technologies Ltd. (www.alarum.io) (Nasdaq, TASE: ALAR) ("Alarum" or the
"Company"), a global provider of enterprise and consumer internet
access solutions, today issued the following letter to shareholders by the
Company's Chief Executive Officer, Mr. Shachar Daniel.
Read this news, featuring ALAR in full at https://www.investorideas.com/news/2023/defense/02081ALAR-Letter-to-Shareholders.asp
Dear
shareholders,
I am
thrilled to conclude the successful and transformational year of 2022 with a
continuing strong performance into January 2023. With this letter I would like
to provide you with an overview of some exciting growth catalysts we envisage
for the rest of 2023.
We
recently completed the Company's rebranding by changing our name to Alarum
Technologies to reflect our transition from a traditional enterprise
cybersecurity-centered company to an established leading provider of enterprise
and consumer internet access solutions.
Alarum
is everything we aimed for in the last few years, while realizing our key
growth engines and crystallizing our significant competitive advantages. For
us, it was all about focus, and understanding that the cybersecurity space is
crowded, requiring heavy investments into constant development, and entailing
relatively long sale-cycles. We therefore decided to harness our knowledge and
expertise in this arena to build a cohesive and sustainable company. During the
last two years, we worked to integrate the business lines and technologies we
have acquired in 2019 and 2021, while focusing on the privacy market for organizations
and the privacy and security market for consumers. In addition, we signed a
cooperation agreement with a cyber-focused entity that took on all the expenses
associated with the Company's legacy cybersecurity activities. Our efforts
resulted in two solid business units that continue to grow and thrive. 2022 was
an outstanding year, adding four more quarters of revenue growth that resulted
in eight consecutive quarters of revenue growth, and estimated annual revenues
of more than $18.5 million. January 2023 kept this momentum with estimated
revenues of $1.8 million and a decreasing burn rate.
While
maintaining our growth, we significantly reduced our burn rate, a trend that we
believe will continue into 2023. January 2023 kept this momentum with estimated
revenues of $1.8 million and a decreasing burn rate.
Alarum
operates today in two main sectors, in which we have distinctive competitive
advantages. The assets we have gained through our previous enterprise
cybersecurity activities put us in an advantageous position to stand out within
the Internet access arena with various solutions designed to address data
access and privacy requirement for enterprises and consumers.
NetNut
Ltd. (";NetNut"), our Enterprise Internet Access arm, is a world
leading brand in its field. It offers a global web data collection cloud
service, based on our proprietary traffic optimization and routing technology
and network. During 2022, we doubled our network's infrastructure, which is now
able to support and process billions in client requests. The scaleup in our
capabilities is a result of the onboarding of several strategic customers, as
well as the expansion of NetNut's network by partnering with tens of Internet
Service Providers.
NetNut
continues to generate revenue growth quarter after quarter and is cash flow
positive.
Our
Consumer Internet Access offers privacy and cybersecurity solutions to end
users. These solutions are designed to allow users to take charge of their
online privacy with a powerful, secured and encrypted connection. These
solutions are installed on the consumers' computers or mobile phones and are
available via various browser and mobile applications stores.
By
investing in acquiring new users, the Consumer Internet Access business model
allows us to build revenue-generating assets, which are expected to yield
future revenue streams. With this unique model we have successfully secured
funding from a strategic investor that chose to invest directly in our customer
acquisition program, as well as a credit line for working capital from a
leading Israeli commercial bank to support this operation.
We
remain agile and committed to growing responsibly and to pave our way to
profitability,
which we expect will maximize our long-term business potential. We are well
aware of the competitive landscape in which we are operating today and are
taking the steps necessary to further develop and strengthen the Company's
competitive edge. We believe that under current market's climate - the
reduction in our burn rate, together with becoming cash flow positive and
maintaining a strong cash position - are key in our path to provide value for
our shareholders.
I
would like to use this opportunity to thank our employees for their commitment.
It is their hard work, alignment behind our strategy and dedication that
enables us to deliver on our promises, and I
invite you to meet part of our excellent team here.
We
also want to thank you, our shareholders, for your continuing support, your
confidence and trust. While we continue to take care of the short term, we are
also building and investing for the long term, in the capabilities we need, the
required knowhow and the talent to continue to create value for you, our
shareholders.
Sincerely,
Shachar
Daniel
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About
Alarum Technologies Ltd.
Alarum
Technologies Ltd. (Nasdaq, TASE: ALAR) is a global provider of internet access
solutions. The Company operates in two distinct segments: solutions for
enterprises and solutions for consumers.
The
solutions by NetNut, our Enterprise Internet Access arm, are based on our
world's fastest and most advanced and secured hybrid proxy network, enabling
our customers to collect data anonymously at any scale from any public sources
over the web. Our network comprises both exit points based on our proprietary
reflection technology and hundreds of servers located at our ISP partners
around the world. The infrastructure is optimally designed to guarantee the
privacy, quality, stability, and the speed of the service.
Our
Consumer Internet Access arm offers privacy and cybersecurity solutions to end
users. These solutions are designed to allow users to take charge of their
online privacy with a powerful, secured and encrypted connection. The solutions
are designed for basic and advanced use cases, ensuring complete protection of
personal and digital information.
The
Company's previously developed cybersecurity solutions for enterprises are offered
by an information security provider, as a solution or cloud service.
For
more information about Alarum and its privacy and cybersecurity solutions for
enterprises and consumers, please visit www.alarum.io.
Forward-Looking
Statements
This
letter to shareholders contains forward-looking statements within the meaning
of the ";safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995 and other Federal securities laws and the Israeli securities
law. Words such as ";expects," ";anticipates,"
";intends," ";plans," ";believes,"
";seeks," ";estimates" and similar expressions or
variations of such words are intended to identify forward-looking statements.
For example, Alarum is using forward-looking statements in this press release
when it discusses its vision for 2023, its belief that the Company will
continue to significantly reduce its burn rate in 2023, NetNut's continuous
growth quarter after quarter, advantages and benefits of its Consumer Internet
Access solutions, that revenue-generating assets are expected to yield future
revenue streams, its expectation that its path to profitability will maximize
its long-term business potential, that the current market is key in the
Company's path to provide value for its shareholders, that the Company is
building and investing for the long term, in the capabilities it need, the
required knowhow and the talent to continue to create value for its
shareholders. Because such statements deal with future events and are based on
Alarum's current expectations, they are subject to various risks and
uncertainties and actual results, performance or achievements of Alarum could
differ materially from those described in or implied by the statements in this
press release. The forward-looking statements contained or implied in this
press release are subject to other risks and uncertainties, including those
discussed under the heading ";Risk Factors" in Alarum's annual report
on Form 20-F filed with the Securities and Exchange Commission
(";SEC") on March 29, 2022, and in any subsequent filings with the
SEC. Except as otherwise required by law, Alarum undertakes no obligation to
publicly release any revisions to these forward-looking statements to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
INVESTOR
RELATIONS CONTACTS:
Michal
Efraty
+972-(0)52-3044404
investors@alarum.io
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