Business
Data443 Risk Mitigation Reports Operating Results for the Quarter Ended March 31, 2020
Data443 Risk Mitigation Reports Operating Results for the Quarter Ended March 31, 2020.
About this update from Data443 Risk Mitigation Inc Nev
[{"type":"text","content":"\n RALEIGH, N.C., May 15, 2020 (GLOBE NEWSWIRE) -- Data443 Risk Mitigation, Inc. (OTCPK: ATDS), a leading data security and privacy software company, today announced operating results for the quarter ended March 31, 2020: Recent Business Highlights: No customer or contract losses due to COVID-19 conditionsStaff and business operations retained and on scopeReleased the CCPA version of the GDPR Framework for WordPress to the publicRapidly changed business operations to adapt to new conditions due to COVID-19 emergencyNew Data Center online and consolidation project nearing completionSecond version of Global Privacy Manager™ available for private betaPublic shopping cart ordering platform launched – more product line being added weeklyLarger SMB & B2C marketing campaigns being launched starting Q2 Financial Highlights from Q1 2020: Continued significant gross of deferred revenues to $1,032,000234% growth in revenue growth from same reporting period last year to $478,000Net (loss) mainly attributable to change in fair value of derivative liability reportingCombined SG&A includes new product development, Data Center build out and sales force as well as listed items Management Commentary:Jason Remillard, CEO of Data443, commented, “The first quarter of 2020 reflects the combined business operations of all 5 reporting product lines.  We incurred greater costs this quarter due to the extensive strategic planning and development undertaken, which included the launch of our new Data Center in the Raleigh-Durham Research Triangle Region near our headquarters. This initiative was taken to reduce our spend on the public cloud and provide our customers more options for their longer term and high capacity spend options, particularly for the ultra-high density orders we are seeing now.  The build was made more complicated by challenges due to the COVID-19 pandemic – with component availability issues starting in December of 2019 and lasting throughout the last 4 months. However, it is now in full operation.” “Outside of the Data Center build out, we continue to refine our product lines to facilitate the growing data privacy capabilities that we believe are required in today’s marketplace. Even within the current pandemic, we continue to validate the pricing, fit and capability requirem...