Safe T Group American Depositary Share (NASDAQ: SFET) estimated record-high quarterly revenue for 2Q2021 as it provided financial estimates for 2Q2021 and 1H2021 ended June 30, 2021. As a result, the company anticipates 2Q2021 revenues to be in the range of $1.62 to $1.78 million on an unaudited basis. It represents about 50% to 65% of YoY growth in quarterly growth compared to revenues of $1.08 million reported for 2Q2020. Similarly, 1H2021 revenue is estimated to be in the range of $2.97 to $3.13 million compared to $2.16 million for 1H2020, representing about 37% to 45% of YoY growth.
Management views on the financial estimates
Shachar Daniel, Chief Executive Officer of Safe T, expressed that the record-high quarterly revenue estimate reflects the company’s strong organic growth coupled with complementary strategic acquisitions. Safe T team mulled strategic opportunities for smart acquisition options during the last fiscal, and now their outcomes are evident. In addition, the company has been able to increase its operations with about a 60% growth rate. Daniel mentioned that the security and privacy sectors promised rapid demand and anticipated to continue seeing the growth trends in the upcoming quarters.
Safe T noted that the estimates reflect preliminary results based on currently available information. Hence, the company is providing ranges as the financial closing process and review are under process. The company is expecting to update the thoroughly reviewed financial results by August 31, 2021. Safe T has also mentioned that the revenues from CyberKick Ltd., the company’s recent acquisition this month, will start contributing to its consolidated revenues from 3Q2021 and are not included in 2Q2021 estimates.
Safe T Group’s operational domain
Safe T operates in the security and privacy sectors and provides access solutions and intelligent data collection. Safe T’s access solutions underscore zero-trust philosophy, which mandates ‘validate first, access later,’ whether the user is from inside or outside the network. These solutions, backed by Safe T’s proprietary routing technology and patented reverse-access technology, reduce client organizations’ attack surface and improve defense against modern cyber threats. Safe T’s intelligent data collection and cloud offerings enable organizations to collect transparent, accurate, and sensitive data from online public sources.