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Cybeats Expands Contract with Fortune 500 Water Infrastructure Firm

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Cybeats Expands Contract with Fortune 500 Water Infrastructure Firm

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The latest update is out from Cybeats Technologies Corp. ( (TSE:CYBT) ).

Cybeats Technologies Corp. has expanded its contract by 34% with a Fortune 500 water infrastructure company to enhance security across global treatment plants. This expansion reflects the growing demand for Cybeats’ SBOM Studio, driven by regulatory pressures such as the EPA’s 2024 advisory and the EU Cyber-Resilience Act. The contract extension will help Cybeats strengthen its position in the market by providing enhanced monitoring capabilities for treatment-plant controllers and cloud analytics platforms, contributing to the company’s strategy of building recurring revenue and improving net revenue retention.

Spark’s Take on TSE:CYBT Stock

According to Spark, TipRanks’ AI Analyst, TSE:CYBT is a Underperform.

Cybeats Technologies Corp. faces significant financial challenges due to persistent losses and a weak balance sheet. Despite positive corporate events indicating market expansion and strategic partnerships, the company’s negative equity and cash flow issues overshadow these developments. Technical indicators are neutral to bearish, and valuation remains unfavorable, resulting in a low overall stock score.

To see Spark’s full report on TSE:CYBT stock, click here.

More about Cybeats Technologies Corp.

Cybeats Technologies Corp. is a cybersecurity company specializing in Software Bill of Material (SBOM) management and software supply chain intelligence technology. It aids organizations in managing risk, meeting compliance requirements, and securing their software throughout its lifecycle. The company’s platform provides comprehensive visibility and transparency into software supply chains, enhancing operational efficiency and aligning with regulatory standards.

Average Trading Volume: 47,493

Technical Sentiment Signal: Sell

For detailed information about CYBT stock, go to TipRanks’ Stock Analysis page.

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