Nubeva Announces Strong Financial Results for Fiscal Q3 2023
March 22 2023 - 9:43AM
Nubeva Technologies (TSX-V: NBVA, OTCQB: NBVAF)(“Nubeva” or the
“Company”), today reported strong year over year results in
Revenue, Gross Margins, Net Earnings and Expenses for the first 9
months of its fiscal year as well as its most recent 3-month
period.
"We are thrilled to report such outstanding
results," said Randy Chou, CEO of Nubeva. "This success is a
testament to the value of our breakthrough Ransomware Reversal
product, our team’s hard work, and our ability to execute in a
highly dynamic market. I am proud of what we have accomplished, and
management feels very good about our position and outlook."
In addition to solid revenue growth, Nubeva also
reported that plans to be cash flow positive in 2023, operating
expenses are being effectively managed, and the pipeline is
growing. The company's financial statements and management's
discussion and analysis can be found on SEDAR. A recorded interview
with Nubeva’s CMO, Steve Perkins, that answers questions about
Nubeva’s business can be found here.
"We have a highly effective and efficient
operating model that enables us to continue delivering value to our
customers while driving growth and profitability," said Chou. "We
remain focused on our strategic initiatives to sustain this
momentum and deliver long-term value to our customers, employees
and stakeholders."
About Nubeva Technologies
Nubeva Technologies provides next-generation decryption
solutions for faster, lower-cost recovery from ransomware attacks.
Its mission is to reduce downtime costs and damages so businesses
never pay ransoms again.
Nubeva’s ransomware reversal software is available to end-user
enterprises, managed security service providers, incident
responders, and cybersecurity solution manufacturers. For a private
briefing on Nubeva’s ransomware decryption solutions, contact
us.
Forward-looking statements
This news release contains “forward-looking information” and
“financial outlook” within the meaning of applicable securities
laws relating to the company's business plans, the outlook of the
cybersecurity industry and the expectation, that the company will
be cash flow positive for calendar 2023. Although the company
believes in light of the experience of its officers and directors,
current conditions and expected future developments, and other
factors that have been considered appropriate that the expectations
reflected in this forward-looking information and financial outlook
are reasonable, undue reliance should not be placed on them because
the company can give no assurance that they will prove to be
correct. Actual results and developments may differ materially from
those contemplated by these statements for reasons relating to the
development and adoption of the company’s technology, and its input
and capital cost requirements, among other factors. The statements
in this press release are made as of the date of this release, and
the company assumes no responsibility to update them or revise them
to reflect new events or circumstances other than as required by
applicable securities laws. The company undertakes no obligation to
comment on analyses, expectations, or statements made by third
parties regarding the company, its subsidiaries, their securities,
or their respective financial or operating results (as
applicable).
Neither the TSX venture exchange nor its regulation services
provider (as that term is defined in the policies of the TSX
venture exchange) accept responsibility for the adequacy or
accuracy of this release.
For additional information or to schedule interviews, contact:
Steve Perkins
Chief Marketing Officer, Nubeva
Sperkins@nubeva.com
(714) 261-9948
Nubeva Technologies (TSXV:NBVA)
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