Safe-T Group Reports Record Second Quarter 2021 Financial Results

2021-08-26

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HERZLIYA, Israel, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Safe-T® Group Ltd. (Nasdaq, TASE: SFET), a global provider of cyber-security and privacy solutions to consumers and enterprises, today announced record financial results for the three and six-month periods ended June 30, 2021. Shachar Daniel, Chief Executive Officer of Safe-T Group, said, “The second quarter of 2021 was underlined by significant revenue expansion, culminating in record-breaking year-over-year revenue growth. These accomplishments are the result of our continued investments in making Safe-T Group a world-class cybersecurity and privacy provider. From the increased demand for our privacy platform to growing partnerships for our ZoneZero® solution, it has been a very productive quarter highlighted by the recently announced acquisition of CyberKick. The successful integration of CyberKick during the 3rd quarter, which joins our previous acquisitions, further validates our strategy to acquire innovative technologies and enroll talented entrepreneurs. Based on the great preliminary results we achieved during the first half of the 3rd quarter of 2021 - I believe that we will continue to achieve exponential growth in the coming future”. “We acquired our privacy platform, NetNut, back in 2019, which generated then, pre-acquisition, around $0.5 million of revenues per quarter. By the end of this year, we believe that this platform will generate between $1.5 million to $2.0 million of revenues per quarter. For us it is significant evidence that we are choosing the right companies and improve them.” Second Quarter and Recent Business Developments: “Looking ahead, we expect to continue our strong growth as we invest in our innovative cybersecurity and privacy platform products, targeted at the large enterprise and consumer market segments, as well as to continue our pursuit of potentially lucrative acquisitions that can deliver valuable technology and partnerships and further advance our team with accomplished cybersecurity entrepreneurs. We will continue to invest our cash in a disciplined and efficient manner to ensure we can meet the high demand we are seeing from top tier customers and partners around the globe, which has led the Company to an attractive eight-fold increase in annual revenue run-rate since the second quarter of 2019.” Mr. Daniel concluded: “Our record second quarter performance demonstrates the positive impact of our investment and growth strategy over the last two years and is now producing strong growth in the third quarter. We remain confident that our strategy, combined with the hypergrowth of the global billion-dollar privacy and security markets, will sustain our further expansion and provide long term value to our shareholders.” Additional details on the Company’s financials, products and strategy can be found in the Company’s updated presentation. Financial Results for the Three and Six Months Ended June 30, 2021: The following table presents the reconciled effect of the non-cash expenses/income and certain expenses further described below on the Company’s net loss (profit) for the six- and three-month periods ended June 30, 2021 and 2020, and for the year ended December 31, 2020: Balance Sheet Highlights: Use of Non-IFRS Financial Results In addition to disclosing financial results calculated in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board, this press release contains non-IFRS financial measures of net loss for the periods presented that exclude the effect of share-based compensation expenses, amortization of intangible assets, non-cash issuance and acquisition expenses and the revaluation of finance liabilities at fair value. The Company’s management believes the non-IFRS financial information provided in this release is useful to investors’ understanding and assessment of the Company’s ongoing operations. Management also uses both IFRS and non-IFRS information in evaluating and operating its business internally, and as such deemed it important to provide this information to investors. The non-IFRS financial measures disclosed by the Company should not be considered in isolation, or as a substitute for, or superior to, financial measures calculated in accordance with IFRS, and the financial results calculated in accordance with IFRS and reconciliations to those financial statements should be carefully evaluated. Investors are encouraged to review the reconciliations of these non-IFRS measures to their most directly comparable IFRS financial measures provided in the financial statement tables herein. Second Quarter 2021 Financial Results Conference Call Mr. Shachar Daniel, Chief Executive Officer, and Mr. Shai Avnit, Chief Financial Officer, will host a conference call on August 26, 2021, at 08:30 a.m. ET, to discuss the financial results, followed by a Q&A session. To attend the conference call, please dial one of the following teleconferencing numbers. Please begin by placing your call five minutes before the conference call commences. If you are unable to connect using the toll-free number, please try the international dial-in number: Participants will be required to state their name and company upon entering the call. If you have any difficulty connecting with the conference call, please contact MZ Group at 1-949-491-8235. The conference call will be broadcast live and available for replay at and via the investor relations section of the Company's website at . A replay of the conference call will be available after 11:30 a.m. Eastern time through September 26, 2021. About Safe-T® Group Ltd. Safe-T Group Ltd. (Nasdaq, TASE: SFET) is a global provider of cyber-security and privacy solutions to consumers and enterprises. The Company operates in three distinct segments, tailoring solutions according to specific needs. The segments include, enterprise cyber-security solutions, enterprise privacy solutions, and consumer cyber-security and privacy solutions. Our cyber-security and privacy solutions for consumers provide a wide security blanket against ransomware, viruses, phishing, and other online threats as well as a powerful, secured and encrypted connection, masking their online activity and keeping them safe from hackers. The solutions are designed for both advanced and basic users, ensuring full protection for all personal and digital information. ZoneZero® cyber-security solutions for enterprises, designed for cloud, on-premises and hybrid networks, mitigates attacks on enterprises’ business-critical services and sensitive data, while ensuring uninterrupted business continuity. Organizational access use cases, from outside the organization or within, are secured according to the “validate first, access later” philosophy of Safe-T’s zero trust. Our privacy solutions for enterprises are based on our advanced and secured proxy network, the world’s fastest, enabling our customers to collect data anonymously at any scale from any public sources over the web using a unique hybrid network. Our network is the only one of its kind that is comprised of millions of residential exit points and hundreds of servers located at our ISP partners around the world. The infrastructure is optimally designed to guarantee the privacy, quality, stability, and the speed of the service. Safe-T’s solutions on AWS Marketplace are available hereFor more information about Safe-T, visit Forward-Looking Statements This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Safe-T is using forward-looking statements in this press release when it discusses its outlook for the future, the expected demand for Safe-T’s products, the expected benefits of its investments, the future revenues of the NetNut platform, expected future growth, further expansion and long term value to shareholders, and the potential for additional acquisitions. Because such statements deal with future events and are based on Safe-T’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of Safe-T could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Safe-T’s annual report on Form 20-F filed with the Securities and Exchange Commission (“SEC”) on March 22, 2021, and in any subsequent filings with the SEC. Except as otherwise required by law, Safe-T undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Safe-T is not responsible for the contents of third-party websites. INVESTOR RELATIONS CONTACTS: Steve Gersten, Director of Investor RelationsSafe-T Group Ltd.813-334-9745investors@safe-t.com Michal EfratyInvestor Relations, Israel+972-(0)52-3044404michal@efraty.com Consolidated Statements of Financial Position(In thousands of USD) Consolidated Statements of Profit or Loss (In thousands of USD, except per share amounts)

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