Tesserent (ASX:TNT) smashes financial goals in Q4 FY21

• Tesserent (TNT) hits all of its financial goals during Q4 FY21, including increasing earnings by 125 per cent quarter on quarter
• TNT’s operational earnings before taxes, interest, depreciation, and amortization totalled $3.8 million, while customer receipts hit $33.5 million
• The cybersecurity company says it recorded record turnover during the June quarter of $38.2 million, with $20.8 million in turnover recorded in June alone
• It ended June with $14.86 million in the bank and cashflow positive, with one acquisition and two strategic investments completed during the period
• Company shares are trading steady at 28 cents each at the open of market on Thursday

Tesserent (TNT) has hit all of its financial goals during Q4 FY21, including increasing earnings by 125 per cent quarter on quarter.

The cybersecurity company released its quarterly report on Thursday, stating it was pleased to report it had “exceeded all set financial objectives”.

TNT’s operational earnings before taxes, interest, depreciation, and amortization (EBITDA) totalled $3.8 million, a 125 per cent jump on last quarter’s EBITDA of $1.7 million.

The business said it also recorded record turnover during the June quarter of $38.2 million, with $20.8 million in turnover recorded in the month of June alone.

Additionally, the tech stock’s customer receipts hit $33.5 million at the end of the June quarter, up 53 per cent on Q3 FY21.

Tesserent ended FY21 with $14.86 million in the bank and cash flow positive, with a positive operating balance sheet of $5.3 million.

Activities-wide, the company completed its acquisition of Secure Logic in April and strategic investment into TrustGrid and AttackBound in June.

It also invested in biometric security firm Daltrey in July, and TNT said further acquisitions and investments were likely as the company continues to grow.

“After achieving record growth, driven by strong seasonal financial year-end sales, the company is well placed to enter FY22 with a continuing focus on organic growth, cross-selling opportunities and strategic acquisitions where they add to the Company’s Cyber 360 vision,” TNT said in today’s market release.

Tesserent shares were trading steady at 28 cents each at the open of market on Thursday.