CISO Global, Inc. (NASDAQ:CISO), a Delaware-based management consulting services firm with a market capitalization of $14.5 million, has reacquired a previously sold subsidiary, vCISO, LLC, which holds valuable intellectual property. According to InvestingPro analysis, the company is currently trading below its Fair Value.
The transaction, completed on November 29, 2024, involves a payment of $1.02 million with an 8% annual interest rate, to be paid over the next year.
This move comes after CISO Global's sale of vCISO in September 2024 for $1 million in cash. The subsidiary is known for its internally developed intellectual property that is currently offered to customers and under development for future use. The repurchase is in accordance with a License-Back and Buy-Back Agreement that was a condition of the initial sale.
The financial obligation created by this transaction is significant for CISO Global, as it represents a strategic reacquisition of assets that are central to the company's service offerings. With a debt-to-equity ratio of 4.13 and a current ratio of 0.13, InvestingPro data reveals the company operates under considerable financial constraints. Subscribers can access 14 additional key financial insights about CISO Global's performance and outlook.
CISO Global, formerly known as Cerberus Cyber Sentinel Corp, is recognized within the SIC code 8742 for management consulting services. The company's headquarters are located in Scottsdale, Arizona. Despite challenging market conditions, the company has achieved revenue growth of approximately 35% over the last twelve months, generating $54.6 million in revenue.
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