CYBER1 announces strong Q1 2023 revenue

Hand holding jigsaw puzzles, Business partnership concept.

Cyber Security leader CYBER1, is pleased to announce a strong revenue increase (41%) year on year from €9,487k in Q1 2022 to €13,370k in Q1 of 2023.

In addition, the gross margin for the quarter is up 3% on the previous year, mainly due to the revitalised group strategy around the establishment and utilisation of its Next-Gen Security Operating Centre (SOC) offering, in addition to new vendor partnerships to strengthen its margins.

According to Robert Brown, Group President of CYBER1, operating expenditure for the quarter also increased marginally (9%) by €241k compared to the year before, which reflects the operating costs of the acquisitions business included in the current year not included in the comparative period.

Speaking of who CYBER1 is, Brown says the organisation has been around for more than 26 years and has 225 years of managerial experience. It is headquartered in Stockholm and has a regional presence in Europe, the Middle East, India, and Africa (EMEIA) across 12 locations.

“We boasted revenue of €46.7m last year, and a regional team of 197 people, with about 80% of our board based in Europe,” he adds.

Operationally, the CYBER1 offering is split into three segments, Brown explains. Value-added distribution through TRINEXIA, value-added reseller via CYBER1 Solutions, and a Security Operations Centre, or C1SOC. “Building on the back of a year of expansion both organically and through acquisitions, we are starting to see more collaborative opportunities within the three business units too.”

The last year also saw the company make several major announcements. Firstly, the announcement of a partnership agreement with 9th BIT Consulting, will see CYBER1 growing further into the DevSecOps space. “This is an important partnership, as the experience that 9th BIT has in DevSecOps and the customer base that CYBER1 has across the region allows for us to move into bigger territories, allowing us to expand the business regionally and into a new space too,” Brown explains.

The partnership will also see both entities collaborating in the referral of customers, as well as the joint sale and supply of technologies and services. “We have already worked successfully on several security-related events across MEA, namely the “Shifting Left” event series that proved to be enormously popular with vendors, partners, and customers,” he adds.

In addition, CYBER1 announced the expansion of its European presence, as well as the appointment of Hilbert Long as General Manager for the region. “This was a tremendous step towards consolidating our expansion plans in EMEA.”

From a value-added distribution perspective in TRINEXIA, the company has seen growth across all regions, and profit across all businesses. “This is important for us, as it lays a very good foundation for the business going forward, and also enables us to concentrate on expanding our presence,” Brown comments.

In terms of CYBER1 Solutions, Brown says the company has also enjoyed notable growth, particularly in the Southern Africa region. “This is where the largest growth has taken place, with the signing of several strong, multi-year contracts, which is very positive for the business.”

Speaking of the company’s growth strategy moving forward, Brown says it’s all about growing the company’s footprint, vendor consolidation, and spending more time with vendors to help them to grow their businesses into these regions too.

“Next, there’s the expansion of our Next-Gen SOC where we have a significant amount of automation, which allows us to then grow our margin, and at the same time, grow our customer base.”

In the aftermath of the successful completion of several projects and the implementation of a new corporate strategy, CYBER1 is thrilled to announce a profit for the opening quarter of 2023, he says.

“This is due to increased headline growth, improved margins, and the easing of initial one-off investments. Building on the back of a year of expansion both organically and via acquisitions, we are confident that working together, our three units will ensure CYBER1 is at the vanguard of Cyber Security prevention, detection, and mitigation,” Brown ends.

Share Article

News Centre

CYBER1‘s News Centre is a section that provides a range of news and press releases related to the company’s latest developments, initiatives, and industry insights.

Invest in CYBER1

CYBER1 represents an attractive investment opportunity for those seeking to capitalize on the growing demand for cybersecurity solutions.