SideChannel (OTCQB: SDCH), a leading provider of cybersecurity services and technology to emerging and middle market companies, is reporting its financial results for the three- and nine-month period ended June 30, 2024. Highlights of the report include third-quarter revenue of $1.8 million, year-to-date revenue of $5.5 million, and third-quarter gross margin of 48.9%. The report also showed a decrease in third-quarter operating expenses. In addition, the report indicated revenue retention of 72.3% for the trailing 12 months ended June 30, 2024, with an ending cash balance of $1.1 million at quarter end.
The company will be holding a conference call and webcast today at 4:30 p.m. ET to discuss the report results and to provide an update on the company’s initiatives; the call will also include time for questions and answers. Individuals wanting to access the call can dial 888-506-0062 (toll free) or 973-528-0011 (international), then use the access code 756675.
“This is our second consecutive quarter of positive cash flow from operations,” said SideChannel president and CEO Brian Haugli in the press release. “The expense reductions we implemented over one year ago, combined with our consistent revenue growth have put us in positive cash flow territory. We have begun using a portion of our quarterly cash flow to fund investments in our sales and marketing team, including additional emphasis on Enclave. We are eager to communicate how our novel approach to microsegmentation is proving to be a significantly cost-effective alternative to using hardware.”
To view the webcast, visit https://ibn.fm/1CEML
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About SideChannel Inc.
SideChannel helps emerging and mid-market companies protect their assets. Founded in 2019, the company delivers comprehensive cybersecurity plans through a series of actions branded SideChannel Complete. SideChannel deploys a combination of skilled and experienced talent along with technological tools to offer layered defense strategies supported by battle-tested processes. SideChannel also offers Enclave, a network infrastructure platform that eases the journey from zero to zero-trust. For more information about the company, please visit www.SideChannel.com.
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