Market Leading SaaS-Based Data Security & Privacy Operation Outperforms with Growing Revenues, Thousands of Active Customers and Growing ARR
RESEARCH TRIANGLE PARK, NC, Nov. 16, 2020 (GLOBE NEWSWIRE) — Data443 Risk Mitigation, Inc. (“Data443” or the “Company”) (OTCPK: ATDS), a leading data security and privacy software company, is pleased to announce its third quarter 2020 financial results, with continued accelerated growth in bookings, customer base and ARR. The Company filed its quarterly report on Form 10-Q with the Securities & Exchange Commission earlier today, and can be found at: https://www.sec.gov/Archives/edgar/data/1068689/000149315220021394/form10-q.htm
Major Key Highlights include:
- Nearly $3,000,000 of toxic convertible debt paid-off or converted 9-months ended and counting
- Major reduction of overhang and drag on financing activities
- Closed 3 new acquisitions – all with leading technology stacks, customer bases and intellectual property
- Paid down over $500,000 in acquisition-related notes in cash
- Significantly increased cash flow performance when compared to same period last year
- Company historic quarterly record bookings of $835,000
- Best revenue quarter in Company’s history
- Reduction of G&A expenses of 35%
- Deferred revenues continue to increase, this quarter up 21%
- Net reduction of debt increased equity by $12,500,000
- Cancellation of 250,000 warrants, and settlement of 38,000,000 warrants
- Addition of over 160,000 new active users to our WordPress technology stack
- Addition of over 7,000 net new customers
Jason Remillard, CEO of Data443, commented, “This quarter continued to be an all-hands-on deck effort by the entire team, and we continued to deliver. We will have a more detailed analysis of the quarterly results forthcoming; however, we are excited to provide the initial highlights today that really standout for this very busy quarter for the company. We expect to continue to have a very active Q4 corporately and with our clients, more news to follow.”
“Also, please do join us this week for our regular Business Update Call where I will discuss some of our activities from Q3, plans for Q4 and of course 2021! One of my favorite things to do – I am excited for this event!”
Investors and other interested parties may submit their questions ahead of time by emailing Investor Relations at [email protected] – Online registration is available at: https://us02web.zoom.us/webinar/register/WN_3yfYIRn2S2ikdr2agg16nw.
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) 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) DATAEXPRESS®, the leading data transport, transformation and delivery product trusted by leading financial organizations worldwide; (iii) ArcMail™, which is a leading provider of simple, secure and cost-effective email and enterprise archiving and management solutions; (iv) ClassiDocs® the Company’s award-winning data classification and governance technology, which supports CCPA, LGPD, and GDPR compliance; (v) ClassiDocs™ for Blockchain, which provides an active implementation for the Ripple XRP that protects blockchain transactions from inadvertent disclosure and data leaks; (vi) 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™; (vii) Resilient AccessTM, 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 CCPA Framework WordPress plugin, which enables organizations of all sizes to comply with the CCPA privacy framework; (x) FileFacets™, 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; (xi) 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; 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.
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 17 April 2020; 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.
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