BrandShield 2022 Revenue Rose on Year; Boosted by New Business, Clients

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By Christian Moess Laursen

BrandShield Systems PLC said Tuesday that 2022 revenue grew on year as it expanded its client base and increased new business.

The London-listed cybersecurity company said annual recurring revenue rose 60% in 2022 to $8.4 million with a 55% increase in new business and upsells. Commercial revenue grew 55% to $6.4 million.

The company ended the period with cash reserves of $2.6 million, it said.

BrandShield said that its client base rose 41% to 183 companies.

“As we expand our customer base and our market presence, the company looks forward to an exciting period ahead as we are well-placed to deliver our market-leading digital risk protection services,” Chief Executive Yoav Keren said.

Shares at 0815 GMT were up 0.40 pence, or 7.8%, at 5.50 pence.

Write to Christian Moess Laursen at christian.moess@wsj.com

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