May 27, 2020

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Worth Watching Stock for Traders: Safe-T Group Ltd. (NASDAQ: SFET)

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Safe-T Group Ltd. (NASDAQ: SFET) stock observed trading -92.67% off 52-week high price. On the other end, the stock has been noted 21.55% away from low price over the last 52-weeks. The stock disclosed a move of -11.87% away from 50 day moving average and -71.32% away from 200 day moving average. Moving closer, we can see that shares have been trading 0.77% off 20-day moving average. It has market cap of $84.52M.

Safe-T Group Ltd. (NASDAQ: SFET) (TASE: SFET), a provider of software-defined access solutions for the hybrid cloud, reported financial results for the year ended December 31, 2018.

Safe-T reported continuing progress and achievements in 2018. During the year ended December 31, 2018, Company revenues totaled $1,466,000, an increase of 34% compared with $1,096,000 in the year ended December 31, 2017.

Non-IFRS customer net bookings totaled $1,830,000 ($423,000 of which are still contingent bookings as at the date of this announcement), an increase of approximately 11% compared to $1,651,000 net bookings last year (including no contingent bookings). [1]

Non-IFRS order backlog of customers who have not yet been charged totaled as of December 31, 2018, to $982,000, compared with an order backlog of $565,000 as of December 31, 2017. Backlog amounts include contingent bookings.

The Company reported revenues of $463,000 in the fourth quarter of 2018, representing a 23% increase compared with $377,000 in the corresponding quarter last year. The Company ended the year with a cash balance of $3,717,000.

Safe-T announced on January 29, 2019 the signing of a non-binding letter (LOI) for the acquisition of an Israeli company in the proxy network solution industry. Unaudited results for the full year of 2018, provided to Safe-T by the target company, included revenues of approximately $2,200,000. The closing of the acquisition is still subject, among other conditions, to the signing of definitive documentation and obtaining shareholders’ approval.

“In 2018, we focused on organic and inorganic growth of the company through the launch of new products, integrations with new partners, and the development of new technologies,” said Shachar Daniel, Chief Executive Officer of Safe-T Group Ltd. “As the Company continues to leverage its extensive knowledge and experience, we look forward to expanding our footprint in 2019 by driving sustainable product innovation and building a foundation to scale the business over the long-term.”

Additional Recent Developments:

Safe-T Recognized by Gartner as One of Seven Representative SDP Vendors: Safe-T was included in Gartner’s recent “Fact or Fiction: Are Software-Defined Perimeters Really the Next-Generation VPNs” report on software-defined perimeters (SDPs). Safe-T is the only Israeli company listed as a Representative Vendor.

Safe-T Appoints Chen Katz as Chairman of the Board of Directors: Mr. Katz has wide-ranging experience working with growth technology companies, and his expertise includes finance, management and the technology industry. He has been the chief executive officer of TechnoPlus Ventures Ltd., an Israeli publicly traded investment firm (TASE: TNPV), since 2006. Mr. Katz currently serves as the Chairman of the Board of two medical-device companies, Nicast Ltd. and its subsidiary, Nanomedic Technologies Ltd., and he also serves as a director in CompuLab Ltd., RapiDx Ltd. and Aminach Furniture and Mattresses Industry Ltd.

Financial Results for the Year Ended December 31, 2018

Total revenues for the year ended December 31, 2018, were $1,466,000, compared with $1,096,000 in the year ended December 31, 2017. The increase was attributed to sales in APAC and Europe, offset by a reduction of sales in the United States.

Non-IFRS total net bookings in the year ended December 31, 2018, totaled $1,830,000 (including contingent bookings of $423,000), compared with $1,651,000 in the year ended December 31, 2017 (with no contingent bookings).

Cost of revenues during 2018 totaled $791,000, compared with $583,000 in 2017. The increase is mainly due to an expansion of the Company’s support and professional services team, which resulted in an increase in payroll and related expenses.

Research and development expenses in 2018 totaled $2,414,000, compared with $1,608,000 in 2017. The increase was mainly attributed to payroll and related expenses.

Sales and marketing expenses during 2018 totaled $5,542,000, compared with $4,051,000 during 2017. The increase was attributed to payroll and related expenses, professional services expenses, and marketing expenses.

General and administrative expenses in 2018 totaled $1,925,000, compared with $2,150,000 in 2017. The decrease was mainly attributed to a share-based payment, offset by an increase in professional services.

IFRS net loss for 2018 totaled $11,753,000, or $0.33 basic loss per ordinary share, compared with $5,313,000, or $0.29 basic loss per ordinary share, during 2017.

Non-IFRS net loss for 2018 totaled $8,688,000, or $0.24 basic loss per ordinary share, compared with $5,725,000, or $0.31 basic loss per ordinary share, for 2017.

The Israel based company Safe-T Group Ltd moved with change of -7.17% to $2.2 with the total traded volume of 46225 shares in recent session versus to an average volume of 278.94K. The stock was observed in the 5 days activity at 4.76%. The one month performance of stock was -2.65%. SFET’s shares are at -34.33% for the quarter and is now at -25.93% since this point in 2018.  The average volatility for the week and month was at 13.98% and 14.15% respectively. There are 38.42M shares outstanding and 0.74M shares are floated in market.

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