Against the backdrop of increased hacker attacks and a growing demand for cyber defense programs, the profits of the Russian company Positive Technologies increased by almost 50%.
The company specializes in creating protection against various cyber attacks and other digital threats. Compared to the beginning of last year, in the first quarter of 2022, Positive was able to significantly increase revenues. According to company representatives, the digital security market is now being transformed, like many other industries. PT benefited from these changes, significantly increasing demand for the company’s developments and products.
From January to March, the IT company was able to earn about 1.4 billion rubles. At the same time, net profit amounted to 146 million, last year Positive Technologies did not receive any profit for the first three months. They ended the quarter with a loss of 10 million rubles.
The volume of sales for the year was tripled. At the same time, the company’s operating expenses also increased significantly – by almost a third. PT said most of that spending was on the company’s financial model due to the rapid increase in revenue.