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SCOTTSDALE – CISO Global, Inc. (NASDAQ: CISO), an AI-powered cybersecurity firm with a market capitalization of $4.73 million, has achieved a significant financial milestone by fully satisfying the convertible notes held by Target Capital 14, LLC and Secure Net Capital, LLC. This development, announced today, follows the company’s recent declaration of unaudited Adjusted EBITDA profitability, though InvestingPro data shows trailing twelve-month EBITDA remains negative at -$12.17 million. The company faces significant challenges, with 16 key risk factors identified by InvestingPro analysts.
In conjunction with this announcement, CISO Global also stated that $7 million in convertible notes, which are held by a member of the Company Advisory Board and Hensley Beverage Company, have had their terms extended. This comes as the company operates with a debt-to-equity ratio of 10.72 and a concerning current ratio of 0.14, according to InvestingPro data. Andy McCain, CEO of Hensley Beverage and a CISO board member, expressed his continued confidence in the company, citing the team’s strategy and ability to drive sustainable value as reasons for extending the investment.
CISO Global’s CFO, Deb Smith, highlighted the company’s strong financial position, emphasizing the focus on growing recurring revenue through software sales to existing customers and channel partners. The company acknowledges the support of its vendors in reaching this stage and is committed to repaying the extended notes through future cash flow.
With a focus on accelerating software sales, CISO Global aims to reverse its 46.11% year-over-year revenue decline and improve its overall financial health, which InvestingPro currently rates as WEAK with a score of 1.47 out of 5. The company offers a range of services, including AI-powered cybersecurity software and managed security services, tailored to protect organizations from the latest cyber threats. Investors seeking deeper insights into CISO’s financial metrics and growth potential can access comprehensive analysis and real-time updates through InvestingPro’s advanced analytics platform.
The information for this article is based on a press release statement from CISO Global, Inc.
In other recent news, CISO Global has reported achieving unaudited Adjusted EBITDA positivity in the last quarter of 2024, signaling a significant milestone in its transition to a software-centered business model. The company anticipates generating at least $34 million in adjusted EBITDA profitable revenue in 2025, with an additional $5 million expected from software-related bookings. In a move to strengthen its financial foundation, CISO Global has repaid its highest-interest loans and secured extensions on convertible notes amounting to $7 million. This financial restructuring aligns with the company’s strategy to transition into a high-margin, software-led model.
Additionally, CISO Global has launched its new AI-driven cloud security solution, CISO Edge, aimed at protecting large enterprises and government agencies from advanced cyber threats. The product has an independent valuation of $30 million and has undergone successful testing at major cybersecurity conferences. In terms of partnerships, CISO Global is advancing its AI-powered security within Microsoft Azure and Amazon AWS ecosystems, integrating its solutions to enhance threat detection and security posture. The company remains committed to innovation and operational excellence, leveraging its expertise to provide top-tier cybersecurity solutions.
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