VirtualArmour Reports Second Quarter Financial Results

VirtualArmour (CSE:VAI), cybersecurity company announced US$2.7 in revenues for the quarter ending June 30, 2019. During the quarter, the company secured a US$300,000 contract in the pharmaceuticals industry, lifting its annual recurring revenues to US$4.5 million, up from US$4 million in 2018.

As quoted in the press release:

“Our expansion into the pharmaceutical and gemological industry allowed for over $700,000 in new contracts for managed and professional services, combined with hardware and software. We were also engaged with a prominent marketing automation company for managed security services in partnership with Alacrinet.”

“Throughout the first half of 2019, our channel partner program has enabled us to quickly access new business development opportunities and notably, give us the ability to target, and deliver our comprehensive set of services to a new base of larger enterprise customers.”

“Looking ahead, we are very optimistic for the second half of 2019.  We continue to see the growing threat of targeted breaches across all industries and business sizes driving increased cybersecurity budgets as companies prepare for 2020 and beyond.”

Click here to read the full press release.