The demand for secure email and instant messaging services is soaring, with the email encryption market projected to reach an impressive US$167B by 2030.
Amid this industry surge, let's delve into Sekur Private Data Ltd..
Despite Q3-2023 boasting a robust 7% YoY revenue growth, Sekur faced a flat QoQ performance. However, a silver lining emerges with a remarkable 50% reduction in Customer Acquisition Costs (CAC) from Q2-2023 to Q3-2023, now standing at just US$30.
With a strategic shift towards in-house SEO marketing and forging key partnerships in the Middle East, Sekur aims to drive revenue growth through the launch of new enterprise solutions for businesses, encrypted calls, and video conferencing.
While 2024 revenue forecasts undergo adjustment due to planned G&A/marketing expense reductions, the simultaneous increase in EPS forecasts hints at intriguing future developments.
The impending uplisting of shares to the NASDAQ signifies Sekur's ambition for global expansion.
In a world where secure communication is not merely a necessity but a priority, Sekur stands poised to meet the demands of businesses handling sensitive and confidential information.
*FRC provides issuer paid coverage.
*Past performance is not indicative of future results