VirtualArmour International Inc (CSE:VAI,OTCQB:VTLR) is a small-cap cybersecurity and professional services company that designs, implements and manages proprietary solutions for businesses looking to protect themselves from cybercrime. Cybersecurity Ventures reports that “global cybersecurity spending will exceed $1 trillion from 2017 to 2021,” and VirtualArmour is making itself known by addressing the needs of clients from multiple sectors including energy, healthcare, retail, finance and service provision.
In a time where breaches like that of Equifax can no longer be seen as one-off events, the use of managed services in cybersecurity has seen notable growth in the last year. Reflecting this, VirtualArmour’s managed services recurring revenue is on track to exceed 100 percent year-over-year growth.The company’s expected managed services recurring revenue under contract is $10 million, supporting an expected 35 percent year-over-year growth in total.
- 35 percent year-over-year growth of topline revenue
- Recurring revenue as percentage of total revenue currently at 30 percent
- Managed services recurring revenue on track to exceed 100 percent year-over-year growth, expecting recurring revenue under contract is $10 million
- 95 percent client retention rate