30th July, 2024: Quick Heal Technologies Limited, a leading global cybersecurity solutions provider, announced its unaudited financial results for the quarter ended June 30, 2024.
Key Financial Highlights – Q1 FY25
· Revenue: INR 70.3 Cr
· EBITDA: INR 2.6 Cr
· PAT: INR 4.0 Cr
Commenting on the company’s performance, Vishal Salvi, Chief Executive Officer, Quick Heal Technologies Limited, said, “As AI natives with our patented GoDeep.AI at the heart of our products, we proudly stand as the first and only Indian cybersecurity firm to join the US AISIC, contributing towards the global AI narrative. We are excited to report a remarkable start to FY25, with significant growth in both the consumer and enterprise business. This quarter’s performance highlights the effectiveness of our strategic initiatives and innovation in the evolving cybersecurity landscape. Our Phase-2 products, including XDR, Zero Trust, and Data Privacy, have started generating significant traction. We are also beginning to build next-generation products, expanding our offerings under Zero Trust and Data Privacy, along with new innovations like Threat Intelligence and the use of Generative AI. This reinforces our global leadership in comprehensive cybersecurity. Our expansion strategies are proving successful, with strategic partnerships driving deeper market penetration. We continue to enhance our execution capabilities with strategic mid-management hires. Additionally, the Customer Experience Center, launched last quarter, has received overwhelmingly positive feedback, emphasizing our commitment to delivering exceptional customer experiences.”
Ankit Maheshwari, Chief Financial Officer, Quick Heal Technologies Limited, added, “Quick Heal has delivered a strong financial performance in Q1 FY25, with significant year-on-year growth in both revenue and profitability. Our enterprise business has shown particularly impressive growth, driven by the increasing adoption of our new product offerings. The consumer segment also remains robust, benefiting from our continuous innovation and enhanced product features in tough market conditions. We continue to invest heavily in R&D, including our Horizon-3 products, and in expanding our sales capabilities. These strategic investments are paying off, setting a solid foundation for sustained growth throughout FY25.”
Key Highlights of the quarter include:
· Achieved 37% growth in revenue and 117% growth in EBITDA on a YoY basis.
· Seqrite earned a 4.6/5 rating for security solutions by Gartner Peer Insights.
· Onboarded a government client with 10,000 users on our new products solution.
· Commenced the development of next-generation products aimed at achieving a holistic cybersecurity approach and driving long-term growth
· Entered into a strategic partnership with EET Group to expand Seqrite’s presence in Europe.
· Collaborated with NewJaisa.com to offer Quick Heal AV solutions within the refurbished electronics market.
· Seqrite Labs detected over 128 million threats (17% YoY growth), including 400k ransomware attacks, in Q1 FY25.
· Onboarded several experienced mid-management business leaders to enhance execution and operational efficiency.
· Quick Heal Technologies Limited listed as a consortium member of the U.S. Artificial Intelligence Safety Institute Consortium, pioneering AI safety.
· Quick Heal won “Product of the Year” and “Top Remediation Time” in AV Lab Poland’s malware testing, achieving a perfect 100% protection rate.
As we move forward in FY25, Quick Heal Technologies Limited remains at the forefront of the cybersecurity landscape, driven by our core purpose to innovate, simplify and secure individuals, businesses and government organizations worldwide. Our quarter’s performance reflects not just steady financial growth, but the increasing trust placed in us by millions of our customers in over 70 countries. Our commitment to cybersecurity extends beyond products to fostering a culture of cybersecurity awareness and preparedness reflected by our recent achievement to become only cybersecurity-focused firm from India to be a member of US Artificial Intelligence Safety Institute Consortium. Quick Heal stands as a strong Make-in-India success story for the world to witness, demonstrating global expertise with heavy focus on R&D to address specific challenges faced by enterprises and nations globally. Our solutions, developed with a deep understanding of both local and global security landscapes, contribute significantly to India’s digital resilience and sovereignty as well as the world. Looking ahead, we remain dedicated to our role in building a robust digital ecosystem, supporting the country’s technological advancement, and establishing our nation as a global cybersecurity powerhouse.