Total Revenue Increased
70%, Deferred Revenue Increased 59%
Year-over-Year
Representing Compounding Natural Organic Growth &
Stellar Customer Retention
RESEARCH TRIANGLE PARK, NC -- March 24, 2021 -- InvestorsHub
NewsWire -- Data443 Risk
Mitigation, Inc. (“Data443” or the “Company”)
(OTCPK:
ATDS), a leading data security and privacy software company,
today announced operating results for the year ended December 31,
2020.
Recent Business Accomplishments:
-
Entered into a new collaboration with the leader in the cloud
data warehouse market, Actian Corporation.
-
Further integrated ClassiDocs™ into Microsoft
products with membership in the by invite
only Microsoft Intelligent Security Association (MISA) in
late 2020.
-
Executed a multi-year, six-figure subscription-based agreement
with a leading U.S.-based insurance company for our Data Archiving
product set.
-
Awarded a six-figure per year, three-year contract with a
leading global bank headquartered in the Middle East, servicing the
bank’s more than 10,000 employees for our classification product
suite.
-
Retired all outstanding debt liabilities with a variable
conversion rate feature, resulting in the elimination of over
$10,000,000 in derivative liabilities.
-
Completed our first acquisition of 2021, acquiring all rights to
ArcMail®, the culmination of the prior two-year
licensing agreement held by Data443.
-
Retired over $5 Million of convertible debt since the start of
2020.
Business Highlights for the Fourth Quarter of
2020:
-
Acquired Resilient Access™ from
Resilient Network Systems, a Silicon Valley-based SaaS platform
that performs SSO and adaptive access control ”on the fly” with
sophisticated and flexible policy workflows for authentication and
authorization. Resilient Access, their flagship
product we acquired in the transaction, is secured by
patent-protected Box.Net for Fortune 50 companies.
-
Acquired assets of IntellyWP, an Italy-based developer that
produces WordPress plug-ins, which specializes in experience
enhancements of more than 170,000 active installations worldwide
and over 1.5 million downloads.
-
Integrated the FileFacets™ technology and staff
into the Data443 family. Completed services engagements and
liquidated non-related IP assets at a positive margin.
Re-onboarding existing customers; integrating aggressive technology
capabilities into ClassiDocs and Archiving Manager capabilities.
Submitting existing Patent Pending IP for Patent approvals.
-
Announced the official release of a substantial enhancement for
DataExpress®, utilizing Google-based Two-Factor
Authentication solution actively deployed in a Fortune 100 customer
to conform to upgraded security mandates.
Management Commentary:
Jason Remillard, Data443’s founder and Chief Executive Officer,
commented, “Fiscal 2020 represented a year of strategic progress
and record performance against an unprecedented backdrop, and I’m
extremely proud of our results for 2020. We realized significant
growth in revenue and deferred revenues. Importantly, our deferred
revenues continue to grow, which is a strong indicator of our
future revenue trends. I’m happy to report that our capital
structure is in the best position it’s ever been, as we spent a
significant portion of 2020 addressing our outstanding convertible
debt, which dovetailed into the Company’s first equity financing
transaction in December. We successfully reduced our derivative
liabilities by over $10 million while growing our business with an
impressive slate of acquisitions throughout 2020. When other
companies in our industry were forced to reduce and contract their
operations or overpay for acquisitions with questionable financial
metrics, we expanded our business in a financially prudent manner.
We managed to acquire three distinct companies, open an office in
Dubai, continue organic growth, and close net new business. These
actions only further validate our business plan and the foundation
we established and have continued to build upon since 2018.”
“We wouldn’t have been able to achieve many of these key
milestones without our incredible and growing Data443 team.
Throughout the pandemic, we didn’t miss a beat in delivering
mission-critical services to our customers. These customers
represent a wide range of industries, including those considered as
essential services, along with education and banking. Because of
these efforts, I’m proud to report that our 2020 customer retention
rate exceeded 98%. This reinforces the essential role Data443 plays
in our customers’ operations, which bodes very well for our future
growth.”
“Looking forward to the rest of 2021, we expect to see continued
strong demand in data security, which reflects the continued risk
environment from hacking and ransomware infections. Also, we
anticipate a growing regulatory environment that will further
compel businesses to deploy security measures for customer data.
While not entirely immune to economic factors, the data security
and privacy market should remain strong as more businesses accept
that they must allocate resources for data security. We’re
continuing to invest in our staff and technology to meet this
growing demand.”
“As we announced in February, we have filed our Schedule 14C
with the Securities and Exchange Commission, as we take the
necessary steps to rationalize our capital structure in preparation
for our application to up-list our stock to a superior market.
We’re excited to take these steps and believe these actions are in
the best interest of our shareholders. Included in our recently
filed Form 10-K you will note subsequent events following the
reporting period of December 31, 2020. Please do take the time to
review these as they are important to our next steps for the
Company.” The 10-K can be found at the following
link: https://www.sec.gov/Archives/edgar/data/1068689/000149315221006652/form10-k.htm
Remillard concluded by stating, “As you can imagine, I remain
highly confident in our business case with our continually expanded
solutions offering that is anchored in solid security capabilities
that deliver uniquely advanced privacy functions for organizations
of all sizes that are unmatched in today’s marketplace. Our suite
of products and services secures our competitive positioning,
differentiating us from the competition, and keeps us in a
leadership position as we move into 2021. Our recent successes of
several high-ticket contracts, along with our recent acquisition of
ArcMail®, sets the stage for the remainder of 2021.
Analysts, customers, competitors, and partners are taking note.
Together with a growing portfolio of diverse customers, greater
access to financial resources, and a growing sales pipeline with an
outstanding team of professionals, we are poised for even greater
heights in 2021.”
Fiscal Year 2020 Financial Results:
-
Net billings of $3,078,000 for the year ended December 31, 2020,
compared to $2,847,000 net billings for the prior ended December
31, 2019 – representing an increase of 8.1%. Total revenues were
$2,475,000 during the year ended December 31, 2020, compared to
$1,453,000 of revenue for the year ended December 31, 2019 –
representing an increase of 70%. Total deferred revenues were
$1,518,000 as of December 31, 2020, compared with $954,000 deferred
revenues for the year ended of December 31, 2019 – representing an
increase of 59%.
-
General and administrative expenses for the year ended December
31, 2020, were $5,831,000, compared to $4,797,000 for the year
ended December 31, 2019, an increase of $1,034,000 – representing
an increase of 22%. The increase in general and administrative
expense was primarily due to an increase in amortization of
intangible assets, payroll expense, professional fees, and other
expenses related to SEC reporting, including the re-classification
of sales-related management expenses, in connection with the
projected growth of the Company’s business.
-
The net loss for the year ended December 31, 2020 was
$13,907,000 compared to a loss of $607,000 for the year ended
December 31, 2019.
-
The net loss for the year ended December 31, 2020 was mainly
derived from an operating loss of $3,900,000, interest expese of
$2,518,000 and loss on change in fair value of derivative liability
of $7,406,000. The net loss for the year ended December 31, 2019
was mainly derived from an operating loss of $3,934,000, due in
part by increased general and administrative costs, and reduced by
other net income of $3,327,000, which was mainly from a gain on
change in fair value of derivative liability.
Liquidity
As of December 31, 2020, we had cash in the amount of $58,783
and trade accounts receivable of $136,503, compared to cash of
$18,673, trade accounts receivable of $63,556, inventory of $8,301
and other current assets of $807 as of December 31, 2019.
About Data443 Risk Mitigation, Inc.
Data443 Risk Mitigation, Inc. (OTCPK:
ATDS), is the de facto industry leader in Data Privacy
Solutions for All Things Data Security™, providing
software and services to enable secure data across local devices,
network, cloud, and databases, at rest and in flight. Its suite of
products and services is highlighted by:
(i) Sensitive Content Manager (ARALOC™), which is a
market-leading secure, cloud-based platform for the management,
protection, and distribution of digital content to the desktop and
mobile devices, which protects an organization’s confidential
content and intellectual property assets from leakage — malicious
or accidental — without impacting collaboration between all
stakeholders;
(ii) Data Archive Manager (ArcMail®), which is a leading
provider of simple, secure and cost-effective email and enterprise
archiving and management solutions;
(iii) Data Identification Manager (ClassiDocs™ and
FileFacets®), the Company’s award-winning data
classification and governance technology, which supports CCPA,
LGPD, and GDPR compliance in a Software-as-a-Service (SaaS)
platform that performs sophisticated data discovery and content
search of structured and unstructured data within corporate
networks, servers, content management systems, email, desktops, and
laptops;
(iv) ClassiDocs™ for Blockchain, which provides an
active implementation for the Ripple XRP that protects blockchain
transactions from inadvertent disclosure and data leaks;
(v) Data443™ Global Privacy Manager™,
the privacy compliance and consumer loss mitigation platform which
is integrated with ClassiDocs™ to do the delivery
portions of GDPR and CCPA as well as process Data Privacy Access
Requests – removal request – with inventory by
ClassiDocs™;
(vi) Data Placement Manager (DATAEXPRESS®), the leading
data transport, transformation and delivery product trusted by
leading financial organizations worldwide;
(vii) Access Control Manager (Resilient Access™), which
enables fine-grained access controls across myriad platforms at
scale for internal client systems and commercial public cloud
platforms like Salesforce, Box.Net, Google G Suite, Microsoft
OneDrive and others;
(viii) Data443™ Chat History Scanner, which scans
chat messages for Compliance, Security, PII, PI, PCI & custom
keywords;
(ix) the GDPR Framework WordPress plugin, with over 30,000 active
users and over 400,000 downloads it enables organizations of all
sizes to comply with the GDPR and other privacy frameworks;
(x) The CCPA Framework WordPress plugin, which enables
organizations of all sizes to comply with the CCPA privacy
framework;
(xi) LGPD Framework WordPress plugin, which enables organizations
of all sizes to comply with the Brazilian GDPR/LGPD privacy rules;
and
(xii) IntellyWP, a leading purveyor of user experience enhancement
products for webmasters for the world’s largest content management
platform, WordPress.
For more information, please visit http://www.data443.com.
Forward-Looking Statements
The statements contained in this release that are not historical
facts are forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Words such as “may,”
“will,” “could,” “should,” “expect,” “plan,” “project,” “intend,”
“anticipate,” “believe,” “estimate,” “predict,” “potential,”
“pursuant,” “target,” “continue,” and similar expressions are
intended to identify such forward-looking statements. The
statements in this press release that are not historical
statements, including statements regarding Data443’s plans,
objectives, future opportunities for Data443’s services, future
financial performance and operating results and any other
statements regarding Data443’s future expectations, beliefs, plans,
objectives, financial conditions, assumptions or future events or
performance that are not historical facts, are forward-looking
statements within the meaning of the federal securities laws. These
statements are not guarantees of future performance and are subject
to numerous risks, uncertainties, and assumptions, many of which
are beyond Data443’s control, and which could cause actual results
to differ materially from the results expressed or implied by the
statements. These statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that
are difficult to predict, and include, without limitation, results
of litigation, settlements and investigations; actions by third
parties, including governmental agencies; volatility in customer
spending; global economic conditions; ability to hire and retain
personnel; loss of, or reduction in business with, key customers;
difficulty with growth and integration of acquisitions; product
liability; cybersecurity risk; anti-takeover measures in our
charter documents; and, the uncertainties created by the ongoing
outbreak of a respiratory illness caused by the 2019 novel
coronavirus that was recently named by the World Health
Organization as COVID-19. These and other important risk factors
are described more fully in our reports and other documents filed
with the Securities and Exchange Commission (“the SEC”), including
under (i) “Part I, Item 1A. Risk Factors”, in our Registration
Statement on Form 10 filed with the SEC on January 11, 2019 and
amended on April 24, 2019; (ii) “Part I, Item 1A. Risk Factors”, in
our Annual Report on Form 10-K filed with the SEC on March 23,
2021; and, (iii) subsequent filings. Undue reliance should not be
placed on the forward-looking statements in this press release,
which are based on information available to us on the date hereof.
Except as otherwise required by applicable law, we undertake no
obligation to publicly update or revise any forward-looking
statements, whether because of new information, future events, or
otherwise.
The Data443™ logo,
ClassiDocs™ logo, ARALOC™ logo,
ARCMAIL®, DATAEXPRESS® and
FILEFACETS® are all registered trademarks of
Data443 Risk Mitigation, Inc.
All product names, trademarks and registered trademarks are
property of their respective owners. All company, product and
service names used in this website are for identification purposes
only. Use of these names, trademarks and brands does not imply
endorsement.
All other trademarks cited herein are the property of their
respective owners.
For Further Information:
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Signup for our Investor Newsletter: https://www.data443.com/investor-relations/
Investor Relations Contact:
Matthew Abenante
ir@data443.com
919.858.6542
DATA443 Risk Mitigation (PK) (USOTC:ATDS)
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