Safe-T Group Ltd. (NASDAQ: SFET) stock gained by 3.27% in the current market trading session. Safe-T Group Ltd. is a supplier of intelligent data collecting and access solutions. SEFT’s cloud and on-premises solutions protect businesses’ business-critical services and sensitive data from cyberattacks while maintaining business continuity.
Safe-T Group Ltd. released an expected revenue range for the three and six months ending June 30, 2021 today.
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On a preliminary and unaudited basis, Safe-T Group plans to record sales in the range of $1.62 million to $1.78 million for the quarter ending June 30, 2021, a rise of 50% to 65% relative to $1.08 million in the second quarter of 2020. According to preliminary estimates, SFET’s revenues for the six-month period ending June 30, 2021, would be in the range of $2.97 million to $3.13 million, up from $2.16 million in the same period in 2020.
Shachar Daniel, Chief Executive Officer of Safe-T stated,
SFET is pleased to announce their anticipated record-breaking quarter. This is a direct result of their core goal of achieving significant organic growth while also making strategic acquisitions. They identified possibilities that will provide sensible purchase choices last year, and they are seeing the results now. Furthermore, Safe-T continues to expand its activities, with a 60 percent rise in proven growth. The security and privacy areas in which SFET operates, are seeing rapid demand, and they expect this trend will continue in the coming quarters.
By August 31, 2021, Safe-T plans to disclose the complete audited financial accounts. Revenues from SFET’s recent acquisition of CyberKick Ltd. on July 4, 2021, which are projected to contribute to SFET’s consolidated revenues beginning in the third quarter of 2021, are not included in the statistics.