The Cerberus Cyber Sentinel Corp (NASDAQ: CISO) stock price soared 178.26% after releasing its preliminary financial results for Q4 2022, and the fiscal year ended 31 December 2022. The company’s Q4 revenues soared 150% to $14.7 million from $5.9 million in Q4 2021.
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A positive reaction was expected, given that the company’s full-year revenues soared 207% to $46.5 million after the company generated an extra $31.4 million during the past year compared to the $15.1 million it made in the 2021 financial year.
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Cerberus Cyber’s operating loss during the last quarter of 2022 fell 71% to $9.4 million after declining by $23.5 million from the $32.9 million operating loss recorded in Q4 2021. However, the company’s full-year loss fell by $6.6 million, or 17%, to $33.2 million versus the full-year loss of $39.8 million during the 2021 financial year.
However, the company, which provides managed cybersecurity and compliance services with its headquarters in Scottsdale, Arizona, warned investors that the preliminary financial results were yet to be audited by its independent registered public accounting firm, Semple, Marchal & Cooper, LLP.
Investors should wait for the final audited results and the management’s review, which will be included in its annual report due later this year. Meanwhile, the preliminary results triggered the latest rally in CISO stock.
Cerberus Cyber also revealed that it had issued a 10% unsecured convertible loan note worth $5 million to Hensley & Company dba Hensley Beverage Company via a private placement.
The note is due on March 20, 2025, together with accrued and unpaid interest. The company will be making monthly interest payments.
David Jemmett, Cerberus Cyber’s CEO and Chairman, stated: “We are very pleased to announce this 2022 preliminary estimated financial information, which reflects our highest quarterly revenue ever and continues our string of seven consecutive quarters of record revenues. We believe that this estimated financial information continues to validate our service offering and our strategy, enabling us to drive significant revenue and market penetration. We continue to see growing demand for our services and expect this to carry on through 2023.”
*This is not investment advice.
Cerberus Cyber (CISO) stock price.
The Cerberus Cyber (CISO) stock price surged 178.26% to trade at 0.6400, from Monday’s closing price of $0.2300.
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.