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SCOTTSDALE, AZ - CISO Global Inc. (NASDAQ: CISO), a provider of AI-powered security software and cybersecurity services, announced today that it has met all NASDAQ listing standards, according to formal notifications from the exchange. The company, which has over 600 clients and partnerships with firms like Cyber Assurance Group, has also reiterated its financial guidance for the current fiscal year, projecting $35 million in cybersecurity service revenues and $5 million in software bookings. The company, currently valued at $31.9 million in market capitalization, has seen its stock price rise 38% over the past year despite recent market volatility.
David Jemmett, CEO of CISO Global, expressed satisfaction with NASDAQ’s confirmation, emphasizing the company’s dedication to transparency and corporate governance. He stated that the reaffirmed financial guidance reflects confidence in CISO Global’s market position and the ongoing demand for its cybersecurity solutions. According to InvestingPro data, the company faces some financial challenges, with a weak overall financial health score and current revenue of $29.89 million for the last twelve months.
The company’s announcement is based on a press release statement, which underscores its commitment to meeting regulatory standards and providing value to its shareholders. CISO Global’s focus remains on delivering innovative cybersecurity software and services to its customers, amidst the backdrop of an increasingly challenging cyber threat landscape. InvestingPro analysis reveals several key metrics about the company’s performance, including a gross profit margin of 18.7% and significant cash burn rate.
This news comes as the cybersecurity industry continues to see robust growth, driven by the need for advanced solutions to protect against sophisticated cyber attacks. CISO Global’s emphasis on strategic initiatives and customer growth positions it as a notable player in the market, catering to the diverse security needs of businesses across various industries.
Investors may find the company’s compliance with NASDAQ listing requirements and its stable financial outlook as indicators of its operational health and strategic direction. As cybersecurity remains a critical concern for organizations worldwide, CISO Global’s efforts to enhance its offerings and maintain high governance standards could be of interest to stakeholders monitoring the sector’s developments.
In other recent news, CISO Global, Inc. has reported significant financial developments, emphasizing its transition to a software-centric business model. The company achieved unaudited Adjusted EBITDA profitability in the last quarter of 2024 and forecasts at least $34 million in adjusted EBITDA profitable revenue for 2025, with an additional $5 million anticipated from software-related bookings. CISO Global has successfully settled convertible notes, boosting its balance sheet, and extended the terms of $7 million in convertible notes. The firm has also repaid its highest-interest loans, which has improved cash flow and supports its strategic pivot towards a high-margin business model. In corporate governance news, shareholders approved the election of directors and ratified Semple, Marchal & Cooper, LLP as the independent auditors for the fiscal year ending December 31, 2024. Additionally, CISO Global received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement, prompting the company to monitor its stock price closely. The company has until October 27, 2025, to regain compliance, with potential measures including a reverse stock split. These developments reflect CISO Global’s ongoing efforts to enhance its financial health and operational efficiency.
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