NRD Cyber Security Reports Remarkable 32% Revenue Growth
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NRD Cyber Security Achieves 32% Revenue Growth in H1 2024
In an impressive performance, NRD Cyber Security, known for its cybersecurity solutions, has reported a remarkable revenue of €3.643 million during the first half of this year. This figure marks a substantial 32% increase compared to the same period in the previous year. Additionally, the company’s net profit surged to €507,000, reflecting a significant rise of 58% year on year.
Strengthening Market Position in Lithuania
Efforts in local markets yield results
The first half of 2024 has shown promising developments for NRD Cyber Security, establishing its leadership in the cybersecurity market within Lithuania. Revenue from this market soared by 79%, driven by an increase in related projects following the impending implementation of the NIS2 Directive. The organization successfully commenced Managed SOC services for five new clients and renewed contracts with existing ones, thereby reinforcing its market presence. The onset of the second half of the year has already indicated significant developments, including a substantial Managed SOC service contract with the Bank of Lithuania, paving the way for exciting new market opportunities.
Innovative Products Enhancing Cyber Resilience
Deployment of Natrix and CyberSet
Products like Natrix and CyberSet continue to gain trust from national cybersecurity teams globally. In the initial half of 2024, NRD Cyber Security played a pivotal role in enhancing the cyber resilience of Egypt's major banks, successfully deploying Natrix in three leading financial institutions. Moreover, enhancements were made to the cyber incident detection and response platform for Egypt's cybersecurity team, EG-FinCERT. Looking ahead, further projects are planned across different sectors in Egypt. Concurrently, updates to CyberSet have allowed Malta's Critical Infrastructure Protection Directorate to elevate its incident response capabilities.
Expanding Horizons in New Markets
NRD Cyber Security's initiatives have not only been confined to the local environment; they have also directed attention towards expanding operations in East Africa, where the proof of concept for Natrix is already underway. Projects in the Eastern Caribbean and Bangladesh are noteworthy as NRD Cyber Security embarks on enhancing cybersecurity capacity building in these regions.
Major International Projects Commenced
The organization has launched several significant international projects. A partnership with the Universal Post Union is underway to establish an Information Sharing and Analysis Centre (ISAC) to bolster the security of the global postal sector. Additionally, a cyber incident response team is being developed in the Eastern Caribbean for the benefit of OECS members, including Grenada, Dominica, Saint Lucia, and Saint Vincent and the Grenadines. Collaborations with the European Union Agency for Cyber Security (ENISA) are also in progress, focusing on enhancing the cyber resilience of EU nations and evaluating the preparedness of the Lithuanian public sector.
Enhancing Cyber Resilience Globally
Nationwide initiatives and collaborations
NRD Cyber Security is dedicated to fostering a secure digital environment through various programs aimed at improving cyber resilience for nations and organizations. These initiatives include hosting international webinars for security teams, providing educational content, and enhancing awareness on cybersecurity maturity. Notably, the SOCshare project continues to flourish, while the newly launched SOCcare project aims to enhance cyber threat intelligence within Eastern Europe.
About NRD Cyber Security
NRD Cyber Security specializes in cybersecurity solutions, providing consulting and an array of complementary services. The company is committed to creating a secure digital landscape for government bodies and organizations globally. Its proprietary cybersecurity technologies, Natrix and CyberSet, facilitate centralized threat monitoring and security operation automation. Notably, NRD Cyber Security maintains robust security operation capabilities through its Managed SOC, which operates around the clock. The company’s cyber incident response team, NRD CIRT, is a distinguished member of FIRST.org. NRD Cyber Security is managed by INVL Technology, an investment firm focused on IT ventures, listed on Nasdaq Vilnius.
The authorized individual for further inquiries:
INVL Technology Managing Partner
Kazimieras Tonk?nas
E-mail: k.tonkunas@invltechnology.lt
Frequently Asked Questions
What were NRD Cyber Security's revenue figures in the first half of 2024?
NRD Cyber Security generated €3.643 million in revenue, marking a 32% increase from the previous year.
How did NRD Cyber Security perform in the Lithuanian market?
The company saw a remarkable 79% growth in revenue from the Lithuanian market compared to the first half of 2023.
What are Natrix and CyberSet?
Natrix and CyberSet are advanced cybersecurity monitoring and automation products developed by NRD Cyber Security to assist organizations and national teams.
What international projects is NRD Cyber Security involved in?
NRD Cyber Security is engaged in several international projects, including collaborations with the Universal Post Union and initiatives to enhance cyber resiliency for the European Union.
Who can be contacted for more information about NRD Cyber Security?
Kazimieras Tonk?nas is the Managing Partner at INVL Technology; he can be contacted at k.tonkunas@invltechnology.lt.
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