Hub Cyber Security Ltd (NAS:HUBCZ)

Full Year 2024 Hub Cyber Security Ltd Earnings Call Transcript

May 8, 2025 / 12:30 PM GMT

Transcript

Key Points

Positve

Hub Cyber Security Ltd (HUBC) has seen significant growth in its pipeline, especially from financial institutions and public infrastructure providers in Europe and North America.
The company has been awarded a €20 million engagement by the Bank of San Marino to modernize its digital banking infrastructure, expected to be delivered in full this year.
Hub Cyber Security Ltd (HUBC) has improved its gross margin profile by over 1,000 basis points year over year in the second half of 2024.
The company has reduced legacy liabilities by over $17 million and secured new financing on favorable terms, strengthening its financial position.
Hub Cyber Security Ltd (HUBC) is expanding its US presence with a new office in New York City and is aggressively hiring world-class talent with deep domain expertise.

Negative

Revenue for the second half of 2024 was $13.8 million, down from $17.6 million in the same period of 2023, reflecting strategic pivots.
Full-year 2024 revenue was $39.6 million, a decrease from $42.7 million in 2023.
The company reported an operating loss of $11.1 million in the second half of 2024, despite improvements.
Cash and cash equivalents at the end of the year were only $3.1 million, indicating potential liquidity concerns.
Hub Cyber Security Ltd (HUBC) is transitioning from hardware and services to a software-centric model, which may involve risks associated with strategic shifts.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HUBC.OQ - Hub Cyber Security Ltd
Full Year 2024 Hub Cyber Security Ltd Earnings Call
May 08, 2025 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Thank you for joining us for Hub Cybersecurity's second half 2024 financial results conference call. Joining us on the call today is Noah Herskowitz, CEO of Hob, Leo Davidson, CFO of Hob Cybersecurity. Today's event is being recorded and will be available for replay through the webcast information provided in the press release.

Finally, I'd like to call your attention to the customary Safe Harbor disclosures regarding forward-looking information. The conference call today will contain certain forward-looking statements including statements regarding the goals, strategies, beliefs, expectations, and future potential operating results of cybersecurity. Although management believes these statements are reasonable

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