Safe-T Group (NASDAQ:SFET) earnings for the data protection company’s third quarter of 2019 have SFET stock heading higher on Wednesday. It reported an IFRS profit-per share of 7 cents and Non-IFRS losses per share of -13 cents. Revenue for the quarter came in at $1.35 million.
Let’s take a more in-depth look at the most recent Safe-T Group earnings report.
- IFRS EPS for the quarter is a switch from a loss in the same period of the year prior.
- Non-IFRS losses per share are 87.74% better than the -$1.06 from the third quarter of 2018.
- Revenue is up 444% from the $248,000 reported during the same time last year.
- An Operating loss of -$6.15 million is a 10.61% improvement YoY from -$6.88 million.
- The Safe-T Group earnings report also includes a net loss of -$1.17 million.
- That’s 79.93% narrower than the -$8.52 million reported in Q3 2018.
- SFET also notes that cash balance at the end of the quarter was sitting at $973,000.
Safe-T Group also saw several other significant events take place during its third quarter. That includes investors exercising $1,000,000 in warrants at a price of $27.60 per ADS. It also saw an investor purchase additional debentures in the amount of $400,000.
Other recent developments for the company include a 20-for-1 reverse split of its share capital. It has also raised gross funds of $4,000,000 through equity and debentures during the fourth quarter of 2019.
SFET stock was up 7.35% as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
