NRD Cyber Security, which also owns NRD Bangladesh, had consolidated revenues of €7.411 million in 2023, up 21.9% from 2022.
Its operating profits rose 77.1% last year to €0.99 million, as EBITDA increased by 74.3% to €1.14 million.
According to Vilius Benecis, Director of NRD Cyber Security, the company's development is driven by strong capabilities in creating and modernizing cybersecurity teams, with a focus on automating their work and developing specialized tools and international cooperation. The development of activities in more than 50 countries, active participation in both the Lithuanian and international cybersecurity community, enables the company to offer high capabilities based on international standards and best practices.
See also: Malaysia: Collaborations to strengthen cyber workforce
NRD Cyber Security’s sales revenue in 2023 in foreign markets amounted to 2.37 million euros, an increase of 78% compared to the previous year’s sales revenue of 1.33 million euros from foreign customers. This is due to a significant increase in the number of projects aimed at strengthening national cyber resilience. In more than 30 countries, the organization’s specialists established national cybersecurity teams, helped develop national cybersecurity strategies, and carried out other cyber resilience-building activities. Customers include the Central Bank of Egypt, the Ministry of Economy of Kosovo, and the European Investment Bank, the European Union Agency for Cybersecurity (ENISA).
In addition to building cybersecurity teams, the company operates as an MSSP and provides services under the name CyberSOC. NRD Cyber Security further strengthened its leadership position in the market for these services in Lithuania in 2023 by launching a 24/7 CyberSOC service option. It differentiates itself in the market as the service is provided around the clock by real analysts. Last year, CyberSOC services were also launched abroad, with centralized monitoring and prevention of cybersecurity incidents at the Central Bank of Botswana.
The organization’s unique cybersecurity tools – Natrix, a centralized threat monitoring platform, and CyberSet, a toolkit for automating the services provided by cybersecurity teams – are gaining increasing recognition in the global market. In 2023, both tools were deployed in Malta’s national cybersecurity team, CSIRTMalta. Natrix was also deployed in Egypt’s CSIRT for the country’s financial sector, EG-FinCIRT, while CyberSet enabled cybersecurity teams in the Bahamas, Trinidad and Tobago, Barbados and other countries to begin providing their services.
Read more: Darktrace AI: The cybersecurity revolutionizer
NRD Cyber Security offers cybersecurity solutions, consulting and other services. The company aims to create secure digital environments for countries, governments and businesses and undertakes a wide range of projects around the world. The company is managed by INVL Technology, an IT listed on Nasdaq Vilnius.
Source: finance.yahoo.com
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