- Data443 Risk Mitigation has filed its 2022 Annual Report on Form 10-K with the Securities and Exchange Commission (“SEC”), which marks the fourth full year of audited financial statements filed with the SEC, allowing Data443 to be considered ‘seasoned’ by Nasdaq
- Data443 recently awarded ‘Best for Kiosk’ on their Ransomware Recovery Manager(TM), the only industry solution that actively recovers the device, operating system, and data with a simple reboot
- Data threats are increasingly affecting companies in the U.S., leading to financial and legal repercussions across a swathe of industry players
- The prevalence of remote working has also made a significant difference, with Data443 responding to this opportunity across its portfolio of nine different data security and privacy products
- The company continues to renew and service its existing customer base at a 99% renewal rate (including 20+ fintech companies, thousands of medium-sized businesses, and over 100,000 smaller organizations)
Over the past few years, reports of data breaches have become a near-everyday occurrence. In fact, for one seven-month stretch between December 2019 and June 2020, an array of companies, including Microsoft (December 2019), Estee Lauder (January 2020), Whisper (March 2020), Facebook (April 2020), and Wattpad (June 2020) all announced that they had suffered from data breaches – cumulatively losing over one trillion individual data records in the process. The losses at the time included various data segments, including identification details, purchase histories, and in some cases, payment information. Although breaches can lead to negative publicity and reputational damage for targeted corporations, the repercussions rarely stop there. Following its 2017 breach, which affected nearly 150 million Americans, Equifax faced litigation brought against it by 48 different U.S. states. The firm ended up settling its various enforcement actions for nearly $575 million (https://ibn.fm/U9YQR). Since then, costs have escalated, as have the frequency of attacks. For instance, in 2022, a U.S. company’s average cost of a data breach touched a high of $9.44 million. With 83% of U.S. organizations suffering more than one data breach, protecting their information to prevent future mishaps – and potentially onerous financial liabilities has become a leading corporate priority (https://ibn.fm/nLQZ2).
The increased prevalence of remote working from the COVID-19 pandemic, the industry shift towards cloud-based data storage, and the increasing sophistication of cybercriminals, all led to a surge in data security risks. All those factors were simultaneously at play in June 2020. That month, Sina Weibo, one of China’s largest social media platforms with a model akin to Twitter wherein users communicate via short messages, was hacked. The perpetrators subsequently posted the personal details of over 538 million users – including real names, usernames, gender, location, and in some cases, phone numbers, onto the dark net while offering the entire data set up for sale for a mere $250 (https://ibn.fm/WO2Cl).
Data443 Risk Mitigation (OTC: ATDS), a data security and privacy software company, has centered its mission around preventing the likes of the Sina Weibo hack from ever being repeated, stating its steadfast commitment to identifying and protecting all sensitive data regardless of location, platform or format. The statement has come at a timely juncture, as the ransomware landscape accelerating the rate at which most businesses are adopting data security solutions, and protecting against it has become a global priority. Meanwhile, a recent study by Gartner revealed that by 2024, over 30% of enterprises will have adopted data security platforms, up from less than 5% in 2019.
“The explosion of ransomware, zero-day attacks, third-party breaches, along with long-term remote work concerns & the integration of operational technology with IT systems have culminated into a crisis of confidence for IT security leaders” – IDG Security Priorities Study 2021 (https://ibn.fm/8Q8Hh).
In a similar light, Amazon Simple Storage Service (S3), part of Amazon’s cloud computing operations, recently revealed that they would now encrypt all new objects added on to their cloud servers in response to growing industry concern around misplaced data (https://ibn.fm/3Jyw4). Similarly, Data443 has looked to cater to the needs of an increasing data security-conscious corporate sector through its extensive product suite offering, which boasts a range of solutions designed to securely manage data and data privacy needs on-premises, in the cloud, and in hybrid environments. Some of the key elements included within its product suite include – Data Identification Manager(TM), designed to inventory all data repositories automatically; Data Placement Manager(TM), enabling the secure transfer of sensitive data across public and private networks; Data Archive Manager, a purpose-built tool facilitating information archiving and retention; Data Hound for Collaboration, a data discovery, classification and capture toolset; as well as Ransomware Recovery Manager(TM), an industry-leading solution which can assist users targeted by a hack to recover their device, operating systems and data with a simple reboot.
Gartner recently valued the global cyber security market at $202.72 billion and is projected to expand at a CAGR of 12.3% between 2023 to 2030. Boasting an array of services, including an industry-leading antivirus product and a proprietary anti-ransomware system, Data443 is ideally positioned to benefit from increased online turmoil and rising end demand for its product offering.
Data443 recently filed its annual report on Form 10-K for its fiscal year ending December 31, 2022. Data443 stated in January that it would no longer be subject to the Nasdaq’s higher seasoning threshold for price compliance, an event which the company hopes will hasten its uplisting to the Nasdaq. Data443 was also recently awarded as the ‘Best for Kiosk’ along with the ‘Best for Inexpensive Protection’ from PCMagazine, highlighting its capability to restore your PC to a previous malware-free state, wiping out any changes except your own files.
“We are excited to file our 2022 annual report and no longer be subject to Nasdaq’s 30-of-60-day price requirement for uplisting. We remain hopeful that completing our planned public offering and price compliance at that time will enable the company to complete our uplist to Nasdaq. Doing so will further position the company as a prominent cybersecurity and data management company, and deliver on our business plan, which is our top priority. As stated previously, our efforts to uplist to Nasdaq are central to our continued funding, acquisition strategy, and organic growth efforts,” said CEO and founder Jason Remillard.
Data443 Risk Mitigation, Inc. (ATDS) Investor Relations
For more information, visit the company’s website at https://data443.com/.
NOTE TO INVESTORS: The latest news and updates relating to ATDS are available in the company’s newsroom at https://ibn.fm/ATDS
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