SideChannel, Inc. reported its financial results for the six months ending March 31, 2025, revealing a total revenue of $3.8 million, an increase of 3.8% compared to $3.7 million for the same period in 2024. The growth was primarily driven by a 21.2% increase in revenue from Cybersecurity Software and Services, which rose to $1.4 million, while revenue from vCISO Services decreased by 4.4% to $2.4 million. The company experienced a net loss of $249,000 for the six months, a significant improvement from the $499,000 loss reported in the prior year.
In the most recent quarter, revenue was $1.9 million, down from $1.9 million in the same quarter last year, reflecting a decrease of $33,000 or 1.7%. The gross profit for the quarter was $941,000, resulting in a gross margin of 49.7%, up from 45.0% a year earlier. This improvement in gross margin was attributed to lower bonus expenses and positive gross margins from the Enclave software product, which had previously reported negative margins.
Operationally, SideChannel has made strategic adjustments, including a reduction in general and administrative expenses, which fell by 22.9% to $655,000 in the latest quarter. This reduction was achieved through cost-cutting measures related to public company operations and a decrease in stock-based compensation. However, selling and marketing expenses increased by 45.5% to $227,000, reflecting investments in personnel and compensation to support growth initiatives.
As of March 31, 2025, SideChannel's total assets amounted to $4.1 million, with cash and cash equivalents of $1.2 million, up from $1.0 million at the end of the previous fiscal year. The company reported a working capital of $1.2 million, slightly down from $1.3 million as of September 30, 2024, primarily due to an increase in deferred revenue. Looking ahead, SideChannel aims to enhance the adoption of its Enclave software, secure new vCISO clients, and expand its cybersecurity offerings, positioning itself to capitalize on the growing demand for cybersecurity solutions among mid-market and emerging companies.
About SideChannel, Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.