Earnings release
Page 1
Plurilock Plurilock Security Inc. Reports Fiscal 2021 Third Quarter Financial Results VICTORIA , BRITISH COLUMBIA - November 26 , 2021 - Plurilock Security Inc. ( TSXV : PLUR ) ( OTCQB : PLCKF ) and related subsidiaries ( “ Plurilock ” or the “ Company ” ) , an identity - centric cybersecurity solution provider for workforces , today announces its financial results for the three and nine months ended September 30 , 2021. All dollar figures are stated in Canadian dollars , unless otherwise indicated . " The third quarter of fiscal 2021 saw us deliver strong year over year revenue growth , achieve multiple operational milestones with key product initiatives domestically and abroad , while having our organization highlighted by winning 2021 Cybersecurity Breakthrough award , " said lan L. Paterson , CEO of Plurilock . " Many U.S. state and federal agencies have become our customers , validating how integral security is to the structure of government organizations and why our organization is a leader in providing trusted , reliable and simple cybersecurity tools . " " Moving into the end of the year and 2022 , we are focused on executing on our stated strategy of acquiring synergistic assets that can help our operation scale while providing our customers with a broader range of options when it comes to protecting their enterprise from cyber threats . " The U.S. Cybersecurity and Infrastructure Security Agency ( CISA ) recently issued a binding operational directive , titled Reducing the Significant Risk of Known Exploited Vulnerabilities as most hacks that occurred in recent months have targeted flaws in software systems . The directive lists a number of vulnerable areas where cyber criminals will capitalize on and enforces mandatory measures to U.S. federal agencies to act upon . In November 2021 , the email system of the Federal Bureau of Investigation was hacked as thousands of unauthorized spam emails were sent on its behalf , underscoring the graveness of cyber defenses for major government organizations . Third Quarter Fiscal 2021 Financial Highlights • • • For the three months ended September 30 , 2021 , revenue increased by $ 6.6 million as compared to revenue for the three months ended June 30 , 2021 . Total revenue for the three and nine months ended September 30 , 2021 , was $ 15,245,948 and $ 23,926,019 respectively , compared to $ 168,854 and $ 351,705 over the same periods in the prior fiscal year . The increase in revenue is primarily due to revenue generated from the new Solutions Division post Aurora Systems Consulting Inc. ( " ASC " ) acquisition . Hardware sales revenue for the three and nine months ended September 30 , 2021 , totalled $ 13,866,649 and $ 21,447,857 , respectively . No hardware revenue was recorded in the prior