Copenhagen, Denmark - 29th March 2012 - Secunia, the leading provider of vulnerability intelligence and vulnerability management solutions, today announced its financial results for year ending 31st December 2011. The company achieved continued profitability and strong revenue growth of more than 50 per cent. The company believes that this level of hyper growth will also characterise 2012, with Secunia enhancing its focus on core solutions, organisational development, systems, and new markets.
In 2011 Secunia continued the trend of double-digit growth exhibited over the last nine years, delivering EURO 19.4 million in revenues and EURO 2.4 million in operating profit for 2011. This is equal to a 50 per cent increase in revenues compared to 2010, supported by an equivalent increase in the customer base and growing demand for its products.
“Secunia has for the ninth consecutive year realised profitable growth. To ensure we continue this, we constantly manage the balance between short-term execution, and focus on strengthening the platform for further expansion. Secunia’s ability to deliver hyper growth year on year is due to the fact that we have the best employees on board, who have a winner mentality, and that we continuously invest in the development of our solutions. It is very satisfactory that we can continue this level of high profitability as we invest considerable resources in securing the technical as well as the organisational platform for the future”, says Thomas Zeihlund, CEO, Secunia.
An International Growth Market
The continued growth that Secunia is experiencing is across all customer and product segments and geographies. In 2011, around 95 per cent of Secunia’s revenues came from sales outside Denmark, a trend which is expected to continue in 2012. Germany and the US will continue to represent the largest markets, and will therefore also have a particular focus in Secunia’s further international growth.
Secunia operates in an expanding market that over the last few years has gone through significant developments, driven to a great extent by an increased focus on IT security from governments and legislative institutions.
“Our market matures year by year and there is a better understanding and focus on IT security at management level and in board rooms, which reflects the increasing demand for our products and services and the fact that we are winning market share”, says Thomas Zeihlund. With its latest product releases, Secunia is now selling its solutions at all levels and is today supplying its Vulnerability Intelligence, Vulnerability Scanning, and Patch Management solutions to both the SME and Enterprise segments.
The Organisation is Ready
During 2011 Secunia has more than doubled the number of employees, counting today over 150 in staff. The recruitment has taken place in sales as well as across a number of internal support and back-up functions within marketing, customer support, administration, and HR. A number of changes in the management team have also taken place, including the employment of a new CEO and CFO, and internal sales processes have been optimised through the implementation of a new scalable CRM system and the Secunia Sales Academy, designed to educate new sales recruits and thereby increase the efficiency in the sales departments.
All these different investments are financed by a positive cash flow.
“Secunia is an international company that can offer employees an attractive salary and employment terms and that at a time where there is a general talk about crisis. Our continued hyper growth means that we have vacant positions, and hire on an on-going basis. It is therefore important that new employees in, for example, sales know that they become part of a focused introduction programme when they start at Secunia. Recruitment and effective integration of new employees is – and will continue to be – one of our primarily focus areas for 2012”, says Thomas Zeihlund.
A Great Start to 2012
The expectation for Secunia for 2012 is continued hyper growth, supported by a number of important large contracts, which have already been signed here in Q1 2012. One of these is the agreement with the Center for Internet Security, Multi-State Information Sharing and Analysis Center (MS-ISAC), division, where Secunia will provide its end-to-end solution for vulnerability and patch management that ties patch detection to patch distribution (Secunia Corporate Software Inspector - CSI) to US state, local, territorial and tribal (SLTT) governments.
“The agreement with MS-ISAC is an important and considerable recognition of Secunia and our security solutions in the US market. This agreement represents significant business potential and greatly strengthens our opportunities to sign larger deals in the US market”, says Thomas Zeihlund. “It is a fantastic way to start a new year and sets the bar high for our 2012 expectations.”
Key Achievements in 2011
The Secunia Vulnerability Intelligence Manager (VIM 3.1) – provides reliable Vulnerability Intelligence developed by the Secunia in-house research team. The Secunia VIM is compliant with the vulnerability database requirements as given in the NIST Interagency Report 7511 Revision 1 (Draft), Security Content Automation Protocol (SCAP) Version 1.0 Validation Program Test Requirements (Draft), April 2009*, and includes support for Common Platform Enumeration (CPE). The Secunia VIM 3.1 also features additional portlets and new Common Vulnerability Scoring System (CVSS) options.
The Secunia Corporate Software Inspector (CSI 5.0) - a unique automated patch manager and vulnerability scanner proven to identify and remediate all off-the-shelf programs in corporate networks. The Secunia CSI 5.0 achieves this by offering the industry’s largest coverage for best-in-class program detection and patch
*Server editions for both were also released in 2011.
Secunia received the 2011 North American Frost & Sullivan award for Market Penetration Leadership.
The Secunia CSI was shortlisted and highly commended by SC Magazine Europe, and was a finalist in the SC Magazine US awards for Best Vulnerability Management. The Secunia CSI also won gold for ‘Best Enterprise Service’ and Gold for ‘Best SOHO/Consumer’ services.
Founded in 2002, Secunia is the leading provider of IT security solutions that help businesses and private individuals globally manage and control vulnerability threats, risks across their networks, and end-points. This is enabled by Secunia’s award-winning Vulnerability Intelligence, Vulnerability Assessment, and Patch Management solutions that ensure optimal and cost-effective protection of critical information assets.
Secunia plays an important role in the IT security ecosystem, and is the preferred supplier for enterprises and government agencies worldwide, counting Fortune 500 and Global 2000 businesses among its customer base. Secunia has operations in North America, the UK, and the Middle East, and is headquartered in Copenhagen, Denmark.
For more information, visit secunia.com or contact email@example.com
Note: Secunia has with the 2011 annual report transferred to the more conservative accounting principles in US GAAP, which means that comparable figures are not directly available. Had Secunia used the same accounting principles as in previous year then the result for 2011 would have been positively impacted.