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Cipherpoint outlines growth strategy and answers other shareholder questions

The company’s strategy is to grow organically by generating greater revenues from new customers and to also grow user numbers and revenues from existing customers.

Cipherpoint Ltd - Cipherpoint outlines growth strategy and answers other shareholder questions
Cipherpoint also intends to look for acquisitions that will drive momentum

Cipherpoint Ltd (ASX:CPT) has released the answers to questions asked by shareholders during the company’s shareholder call held on July 15, 2020.

The following is an extract from the release:

1. What is the Company’s growth strategy?

The two main components of the Company’s organic growth strategy are to grow organically by generating greater revenues from new customers and to also grow user numbers and revenues from the existing customers. The Company also intends to look for acquisitions that will drive momentum and these may include the acquisition of IP that will speed up our time to market for key functionality or acquisitions of similar sized businesses that will build greater scale.

2. What common platforms do our products support and protect?

Our cp.Protect product covers SharePoint on-premises, SharePoint Online, OneDrive and Windows File Share. Our cp.Discover covers, in addition to the above, Amazon S3 and Azure Blob repositories. Our new development is focused on collaboration and networking tools such as Microsoft Teams.

3. What sectors do our customers span and how do they use our products?

Our existing customers span Banking, Heath Care, Logistics, Education, Insurance, Utilities and Defence industries. They use our products to discover, classify and protect their most sensitive customer, employee or business information.

4. What is the Company’s revenue model?

The old revenue model was based around traditional perpetual software licensing and maintenance. Whilst this is still favoured by some, particularly European, enterprises the Company is moving to a subscription-based model in quoting new business and also sees the opportunity to develop consumption based models for its discovery and classification products.

5. What steps has management taken to build a lean team and prudently limit costs?

The Board has worked to eliminate as much overhead within the business as possible, this includes moving to flexible business premises, reducing discretionary spend and fixed costs. We have also developed sales linked incentives. Cash at bank as at the date of the Call was approximately $1.2m. This followed the successful SPP and Placement. 6. Will the Board encourage more share-based performance incentive? Yes. The Board will present its executive and employee plans for approval the next AGM.

7. What are the catalysts that shareholders should be aware of?

The Board and management are confident. Near term catalysts that we believe will positively impact the business include expanding our footprint inside existing enterprise customers; making further reference sales i.e. using recent wins to expand into similar segments; and

Quick facts: Cipherpoint Ltd

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ASX:CVT
Market: ASX
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