TEL AVIV - HUB Cyber Security Ltd. (NASDAQ:HUBC), an Israeli firm specializing in confidential computing and cybersecurity solutions, has secured a $2 million contract with the Israel Airports Authority. In a three-year agreement announced today, HUB will provide supervision services and engineering design consultancy across all Airports Authority sites in Israel.
The company, which originated from elite units of the Israeli Defense Forces, has outcompeted ten other bidders to offer services essential for the security and operational continuity of the nation’s critical aviation infrastructure.
Noah Hershcoviz, CEO of HUB, stated that the contract reflects confidence in their operational excellence and commitment to cybersecurity and big data management. He also highlighted the deal as an indicator of growth and value for shareholders, marking a successful integration of recent acquisitions that have expanded the company's service capabilities.
HUB Cyber Security, established in 2017, has been at the forefront of developing advanced cybersecurity solutions, including an encrypted computing solution aimed at preventing hardware-level intrusions and a suite of data theft prevention tools. The company operates in over 30 countries, offering a range of cybersecurity services and appliances globally.
This news is based on a press release statement.
InvestingPro Insights
HUB Cyber Security Ltd. (NASDAQ:HUBC) has made headlines with its recent $2 million contract win with the Israel Airports Authority, showcasing the company's growth in the cybersecurity industry. However, a closer look at the company's financial health through real-time data from InvestingPro reveals a more nuanced picture.
InvestingPro Data indicates that HUBC's market capitalization stands at a modest 10.23M USD, reflecting the size of the company within the market. The company's revenue for the last twelve months as of Q2 2023 was 73.04M USD, with a growth of 4.47%. Despite this growth, the company's gross profit margin was relatively low at 0.61%, suggesting efficiency challenges in converting revenues to gross profit.
Additionally, HUBC's stock has experienced significant price volatility, with a 37.63% return over the last month, yet a dramatic 79.87% decline over the last six months. This volatility is critical for investors to consider, as it may impact investment decisions.
InvestingPro Tips highlight several areas of concern for potential investors. HUBC operates with a significant debt burden and has been quickly burning through cash. Moreover, the company has not been profitable over the last twelve months, and its short-term obligations exceed liquid assets, potentially signaling liquidity issues.
For investors seeking a more in-depth analysis of HUBC, InvestingPro offers additional insights. There are 13 more InvestingPro Tips available for HUBC, which can be accessed at https://www.investing.com/pro/HUBC. These tips provide a comprehensive understanding of the company's financial position and market performance.
To assist investors in making informed decisions, a special offer is available: use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. This offer could be particularly valuable for those considering HUBC as part of their investment portfolio.
The recent contract win for HUB Cyber Security underlines the company's strategic advancements in the cybersecurity sector. Yet, the InvestingPro Data and Tips suggest that investors should carefully weigh the operational and financial risks before taking a position in the company's stock.
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