Tesserent announces turnover is up 94%, while organic growth is up 26%
Tesserent Limited, Australia and New Zealand's largest listed cybersecurity company, has announced it has delivered a FY22 turnover of $166 million, EBITDA of $18.6 million.
The company is up 94%, and boosted organic growth by a substantial 26%, demonstrating the success of acquisition integration efforts over the past year and cross selling opportunities across business units.
Organic growth of 26% follows continued integration of prior acquisitions and an improved FY22 operating and normalised EBITDA margin of 14.5% and 16.2%, respectively, up 3.3% and 2.0% on the prior year. Tesserent has also recorded a strong cash position of $14.3 million at year end.
Following recent news that the Albanese Government plans to overhaul the $1.7 billion 10-year cyber security strategy, Tesserent has confirmed it is the largest provider of cybersecurity services to the Federal Government.
Tesserent Federal is currently working closely with over 102 Australian and New Zealand Federal and State Departments and Agencies.
Kurt Hansen, CEO of Tesserent says, "Tesserent welcomes a renewed approach to improving the sovereign capabilities of Australia's cyber defence and offensive activities. Cybersecurity in Australia is rapidly growing, driven by government agencies, large and mid-sized businesses.
"Tesserent is the only ASX-listed pure play full-service cybersecurity provider with more than 170 members of our 450 plus expert team of cybersecurity professionals holding Australian Government security clearance.
Tesserent is rapidly expanding the number of customers it provides multiple services to. Tesserent boasts more than 1200+ customers spanning three key verticals of government, critical infrastructure and banking, financial services and insurance and is trusted by 51 of the S-P/ASX Top 100 companies.
Hansen continues, "The Board and management team continue our strong focus on creating shareholder value by building on Tesserent's position as Australia's number one ASX-listed cybersecurity provider. We are turbocharging our people capabilities and developing our Cyber360 strategy to give us a scalable foundation as a major force in the Australian and New Zealand cyber industry.
"We continue to drive the company's growth strategy, with a focus on organic growth through deeper and wider customer engagements and fostering innovation. We continue to integrate acquisitions and facilitate cross selling across the group. Additionally, we are building out high-value recurring annuity revenue streams via managing security operations and managing detection and response."
Tesserent states the company is on a mission to be the sovereign cybersecurity provider of choice for the protection of Australia and New Zealand's digital assets.
Tesserent provides full service, enterprise-grade cybersecurity and networking solutions targeting midmarket, enterprise and government customers across Australia and New Zealand.
The company's Cyber 360 strategy delivers integrated solutions covering identification, protection and 24/7 monitoring against cybersecurity threats. With more than 450 cybersecurity practitioners, Tesserent has the capability to support organisations to defend their digital assets against increasing risks and cyber attacks.
