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CERBERUS CYBER SENTINEL ANNOUNCES PRELIMINARY ESTIMATED FINANCIAL INFORMATION
Receives $5.0 million from private convertible note offering Scottsdale, Ariz., March 20, 2023 (GLOBE NEWSWIRE) -- via InvestorWire -- Cerberus Cyber Sentinel
About this update from Ciso Global, Inc.
[{"type":"text","content":"Receives $5.0 million from private convertible note offering\nScottsdale, Ariz., March 20, 2023 (GLOBE NEWSWIRE) -- via InvestorWire -- Cerberus Cyber Sentinel Corporation (“Cerberus Sentinel” or the “Company”) (NASDAQ: CISO), an industry leader as a managed cybersecurity and compliance provider, based in Scottsdale, Ariz., today announced certain preliminary estimated financial information as of and for the quarter and fiscal year ended December 31, 2022. The preliminary estimated financial information has been prepared by, and is the responsibility of, the Company’s management. Semple, Marchal & Cooper, LLP, the Company’s independent registered public accounting firm, has not audited, reviewed, compiled or performed any procedures with respect to the preliminary estimated financial information provided below. The Company’s preliminary unaudited estimates for the fourth quarter and fiscal year ended December 31, 2022 are as follows: ●$14.7 million in total revenue for the fiscal quarter ended December 31, 2022, an increase of $8.8 million, or 150%, compared to total revenue of $5.9 million for the fiscal quarter ended December 31, 2021. ●$46.5 million in total revenue for the fiscal year ended December 31, 2022, an increase of $31.4 million, or 207%, compared to total revenue of $15.1 million for the fiscal year ended December 31, 2021. ●$9.4 million in operating loss for the fiscal quarter ended December 31, 2022, a decrease of $23.5 million, or 71%, compared to $32.9 million in operating loss for the fiscal quarter ended December 31, 2021. ●$33.2 million in operating loss for the fiscal year ended December 31, 2022, a decrease of $6.6 million, or 17%, compared to $39.8 million in operating loss for the fiscal year ended December 31, 2021. David Jemmett, Chief Executive Officer 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.” The Company’s preliminary estimates of these financ...