- Plurilock Security (TSXV:PLUR), a high-growth cybersecurity stock, has received a three-year, US$1.1 million sales order from a U.S. Fortune 50 conglomerate, expanding the companies’ long-standing partnership
- The contract will see Plurilock’s Aurora Systems Consulting subsidiary provide the client with an IT performance management solution
- Plurilock is a global cybersecurity company dedicated to detecting, preventing and defending against data breaches and cyberattacks
- Plurilock Security stock has given back 32.08 per cent year-over-year and over 85 per cent since inception in 2020
Plurilock Security (TSXV:PLUR), a high-growth cybersecurity stock, has received a three-year, US$1.1 million sales order from a U.S. Fortune 50 conglomerate, expanding the companies’ long-standing partnership.
The contract, signed on November 27, 2024, will see Plurilock’s Aurora Systems Consulting subsidiary provide the client with an IT performance management solution offering visibility into “user experience, application, network, infrastructure and server performance,” according to Wednesday’s news release.
Plurilock expects the order’s expenses and gross margin to be in line with its historic Solutions Division hardware and system business, with delivery and fulfillment slated to begin in Q4 2024.
The cybersecurity company grew revenue by over 108 times from C$0.65 million in 2019 to C$70.42 million in 2023, while growing gross profitability by over 10 times from C$0.57 million to C$5.85 million, respectively. Gross profitability is on track for a six-year high in 2024 with C$5.48 million collected through three quarters.
Leadership insights
“This engagement underscores the importance of providing robust network performance management solutions to large multinational enterprises,” Ian L. Paterson, Plurilock’s chief executive officer, said in a statement. “By integrating network forensics, application analytics and end-user experience monitoring into a unified platform, Plurilock streamlines issue diagnosis and resolution while enabling centralized control across on-premise, virtual and cloud environments. Our long-standing partnership with this customer reflects the trust Plurilock has built and our ability to address complex visibility challenges. Plurilock remains committed to delivering advanced solutions that empower enterprises to optimize performance and safeguard their networks.”
About Plurilock Security
Plurilock is a global cybersecurity company dedicated to detecting, preventing and defending against data breaches and cyberattacks.
Plurilock Security stock (TSXV:PLUR) last traded at C$0.41 per share. The stock has given back 32.08 per cent year-over-year and over 85 per cent since inception in 2020.
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(Top image: Plurilock Security)