Key Financial Milestone
Updated : 07:00
6 December 2021
BrandShield Systems plc
("BrandShield" or the "Company)
Key Financial Milestone
BrandShield surpasses $5.0 million in Annual Recurring Revenues
BrandShield Systems plc (AIM: BRSD), a leading provider of cybersecurity solutions from brand protection to online threat hunting, is pleased to announce that it has surpassed $5.0 million in Annual Recurring Revenue ('ARR'), the Company's primary key performance indicator, for the current financial year ending 31 December 2021.
This significant strategic and financial milestone is a 79% increase from $2.8 million, the Company's ARR in December 2020, at the time of BrandShield's listing on AIM. This growth reflects the strong demand from customers for BrandShield's unique offering, which protects brands from online threats and scams performed through phishing, fraud, impersonation and counterfeiting across all online platforms, including websites, social media, ecommerce marketplace platforms, mobile app platforms and online advertising.
The ongoing momentum that BrandShield continues to build reinforces management's belief that the Company is ideally placed to capitalise further in the medium term.
BrandShield has also experienced strong customer traction in 2021, with the number of customers deployed across the Company's platform growing by 47 to 121 customers. In addition, the Company has seen high levels of demand across the financial, fintech, consumer goods, e-commerce and healthcare sectors, including world known brands in each of these sectors.
Yoav Keren, Chief Executive Officer of BrandShield, commented:
"We are delighted to have achieved such an important financial milestone which is yet another clear indication that we have the right products at the right time. Equally, it is pleasing to see the strong customer traction we have generated this year, and our ability to attract leading brands across a number of high-growth sectors."
"We look forward to updating the market in early-2022 with a more detailed review of our progress this year."
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Enquiries:
BrandShield Systems plc Yoav Keren, CEO
| +44 (0)20 3143 8300 |
Spark Advisory Partners Limited (Nominated Adviser) Neil Baldwin / Andrew Emmott / James Keeshan
| +44 (0)20 3368 3554 |
Shore Capital (Joint Broker) Toby Gibbs / James Thomas (Corporate Advisory) Henry Willcocks (Corporate Broking)
| +44 (0)20 7408 4090 |
Tennyson Securities (Joint Broker) Peter Krens
| +44 (0)20 3368 3554 |
Vigo Consulting (Financial Public Relations) Jeremy Garcia / Antonia Pollock brandshield@vigoconsulting.com | +44 (0)20 7390 0237 |
About BrandShield
BrandShield is a leading cybersecurity company founded in Israel by cybersecurity experts that protect the world's largest brands and consumers from phishing attacks, online fraud, and other online threats posed by dangerous cybercriminals. Through its AI/ML platform, BrandShield identifies, tracks, and eliminates online threats for global brands and organizations, including Bristol Myers Squibb, Levi's, NewBalance, Swisscom, and the Pharmaceutical Security Institute. BrandShield is quoted on the London Stock Exchange AIM under ticker symbol BRSD. To learn more about BrandShield, please visit the company website at www.BrandShield.com.
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