Safe-T Group estimates record-high quarterly revenue due to organic and acquisitive growth

Safe-T Group Ltd (NASDAQ:SFET) has reported that its second-quarter and first-half revenue increased by double-digits year-over-year, supported by strong organic growth alongside complementary strategic acquisitions. The company, which provides secure access solutions and intelligent data collection, said it expects to report revenue for the quarter ended June 30, 2021, in the range of $1.62 million to $1.78 million, an increase of between 50% and 65%, compared to $1.08 million during the second quarter of 2020. On a preliminary basis, revenues for the six-month period ended June 30 are expected to be in the range between $2.97 million to $3.13 million, up from $2.16 million in the equivalent period of 2020. READ: Safe-T reveals acquisition of SaaS security and privacy solutions provider CyberKick The figures do not include revenue from the recent acquisition of CyberKick Ltd, which is expected to contribute to consolidated revenue starting from the third quarter of 2021. “In the last year, we identified opportunities that will present smart acquisition options, and we are clearly witnessing their outcomes,” CEO Shachar Daniel said in a statement. “Moreover, Safe-T continued to increase its operations with a demonstrated growth of approximately 60%. “The security and privacy sectors in which the company operates, hold rapid demand and we believe we will continue to see these trends in the upcoming quarters," Daniel added. Safe-T expects to release the fully reviewed financial statements by August 31, 2021. Contact the author at stephen.gunnion@proactiveinvestors.com