HUB Security reports 2H revenue $13.8M vs. $17.6M last year

Operating loss in 2H was $11.1M, a significant improvement of 38% compared to the prior year. Noah Hershcoviz, CEO, said, “We said we’d rebuild HUB on stronger ground – and this report shows we’re doing exactly that. In 2024, we executed a focused strategic transformation, shifting away from non-core, lower-margin services to concentrate on our core strength: delivering secure, enterprise-grade data infrastructure for regulated industries. By doubling down on our Secured Data Fabric platform and modern data governance capabilities, we’ve reinforced our financial foundation, improved operational efficiency, and positioned HUB as a trusted partner for institutions navigating complex compliance and data management environments. These results confirm that our strategy is taking hold -and we remain committed to scaling profitably, expanding our client base, and creating lasting value for our shareholders Our strategic expansion into the highly regulated banking sector is beginning to bear fruit. In March, we were selected by Cassa di Risparmio della Repubblica di San Marino S.p.A. to execute a comprehensive EUR 20 million digital banking and infrastructure modernization initiative. In today’s financial landscape, banks face a growing compliance burden with increasing demands for data protection, traceability, and transparency. Traditional data security solutions often fall short of these regulatory standards, and we see HUB leading the charge in delivering innovative, dependable solutions that help banks stay ahead of compliance challenges. Momentum is also building across our base of other European clients driven by regulatory pressure, IT complexity, and rising compliance costs. A leading bank managing over EUR 900 billion in assets deployed HUB’s Secured Data Fabric to unify fragmented KYC and AML systems, consolidating sanctions screening and real-time monitoring across multiple business units. The solution is now fully operational, with invoicing already underway in 2025. This engagement exemplifies HUB’s growing role as a trusted partner for secure, scalable data modernization across global financial institutions. In recent months, we have enhanced our financial flexibility by resolving approximately $17 million in legacy liabilities and secured new financing on favorable terms. In addition, we successfully executed a reverse stock split and believe we are now in full compliance with Nasdaq listing requirements, reinforcing our commitment to maintaining strong governance and positioning HUB for future growth. We’ve learned from the Company’s experience, and we’re clear-eyed about what it takes to rebuild shareholder equity and long-term trust. We’ve put the past behind us, and through it all, we’ve continued to make the business world a safer, smarter place. Global institutions continue to rely on us, and we take that responsibility seriously. By aligning every part of the business around our Secured Data Fabric platform, we’ve created a focused, high-performance engine for scalable growth. This is no longer just a turnaround story, rather a reaffirmation of our ability to execute, deliver, and create lasting value for our clients, shareholders, and partners.”