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Tesserent returns to profit as revenue rises by 235%

Tesserent returns to profit as revenue rises by 235%

Acquisitions and Cyber360 strategy pay off.

Julian Challingsworth (Tesserent)

Julian Challingsworth (Tesserent)

Credit: Tesserent

Publicly listed Tesserent has posted a profit of $4.1 million as it returns to the black 12 months after its $5.1 million 2020 loss. 

For the financial year ended 30 June 2021, Tesserent’s revenue soared by 235 per cent from $20.5 million to $96.7 million, while its normalised earnings before interest, tax, depreciation and amortisation (EBITDA) bounced back from its loss of $2.8 million to a profit of $9.6 million. 

The full-year preliminary results mark a significant improvement on its half-year prospects, having posted a loss of $5.9 million for the six-month ended 31 December 2020.

This followed five acquisitions made in the first half-year — Ludus, Airloom, Seer, iQ3 and New Zealand’s Lateral Security —  whereby costs reached $2.7 million. 

In March, Tesserent acquired Secure Logic’s managed security services provider (MSSP) unit in a $22 million deal and subsequently made investments in cyber security startups TrustGrid and AttackBound.

However, the cyber security vendor said its completion and integration of the acquisitions had helped it achieve “exceptional growth”. 

Coupled with its Cyber 360 strategy, Tesserent claimed it was now in a good position to pursue the converged security and cyber education market. 

Earlier this month, the company announced plans to consolidate its portfolio of acquired companies under its own brand name.

According to a statement released to the Australian Securities Exchange (ASX), the brands set to be consolidated include Airloom, Pure Security, Rivium, Secure Logic, iQ3, as well as its New Zealand arm incorporating the services of Lateral Security, which is retaining its branding. 

The decision to consolidate its branding is expected to make the most out of its organic growth, the statement claimed, with brand integration and visual identity being a “key part” of its strategy. 


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