ATDS - Data443 Risk Mitigation Inc. (ATDS) Files 2022 Annual Report Well Positioned to Deliver High-Grade Data Security and Protection Services as Data Breaches Go Mainstream
- Data443 Risk Mitigation has filed its 2022 Annual Report on Form 10-K with the Securities and Exchange Commission (“SEC”), which marks the fourth full year of audited financial statements filed with the SEC, allowing Data443 to be considered ‘seasoned’ by Nasdaq
- Data443 recently awarded ‘Best for Kiosk’ on their Ransomware Recovery Manager(TM), the only industry solution that actively recovers the device, operating system, and data with a simple reboot
- Data threats are increasingly affecting companies in the U.S., leading to financial and legal repercussions across a swathe of industry players
- The prevalence of remote working has also made a significant difference, with Data443 responding to this opportunity across its portfolio of nine different data security and privacy products
- The company continues to renew and service its existing customer base at a 99% renewal rate (including 20+ fintech companies, thousands of medium-sized businesses, and over 100,000 smaller organizations)
Over the past few years, reports of data breaches have become a near-everyday occurrence. In fact, for one seven-month stretch between December 2019 and June 2020, an array of companies, including Microsoft (December 2019), Estee Lauder (January 2020), Whisper (March 2020), Facebook (April 2020), and Wattpad (June 2020) all announced that they had suffered from data breaches – cumulatively losing over one trillion individual data records in the process. The losses at the time included various data segments, including identification details, purchase histories, and in some cases, payment information. Although breaches can lead to negative publicity and reputational damage for targeted corporations, the repercussions rarely stop there. Following its 2017 breach, which affected nearly 150 million Americans, Equifax faced litigation brought against it by 48 different U.S. states. The firm ended up settling its various enforcement actions for nearly $575 million (https://ibn.fm/U9YQR). Since then, costs have escalated, as have the frequency of attacks. For instance, in 2022, a U.S. company's average cost of a data breach touched a high of $9.44 million. With 83% of U.S. organizations suffering more than one data breach, protecting their information to prevent future mishaps – and potentially onerous financial liabilities has become a leading corporate priority (https://ibn.fm/nLQZ2).
The increased prevalence of remote working from the COVID-19 pandemic, the industry shift towards cloud-based data storage, and the increasing sophistication of cybercriminals, all led to a surge in...
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