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Brandshield Systems PLC - London-based cybersecurity solutions provider - Pretax loss in the first half of 2023 narrows to $2.8 million from $4.1 million a year prior. Revenue climbs to $4.4 million from $2.8 million. Sales and marketing expenses decrease to $2.5 million from $1.8 million. Looking ahead, notes ‘solid’ start to the second half of 2023 and focuses on reducing cash burn which has a ‘marked impact on gross margins’ as the company is on the way towards becoming cash positive, it says. Chief Executive Officer Yoav Keren says: ‘Our ongoing sales and marketing efforts, alongside the growing reputation that BrandShield continues to build across the industry for innovation and product excellence, as highlighted by Frost & Sullivan earlier in the year, continues to drive customer growth.’
Current stock price: 4.50 pence, closed 8.4% higher on Tuesday in London
12-month change: down 53%
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