Forecast Calls for Net Revenue of Approximately $48.0 Million; Cybersecurity Revenue Expected to Increase by 370% from 2015
NEW YORK, May 24, 2016 — root9B Technologies (or “the Company”) (OTCQB: RTNB) announced today its outlook for certain financial and operating metrics for the year ended December 31, 2016.
For the full year, the Company expects to report net revenue of approximately $48.0 million, an increase of 63% from net revenue of $29.4 million in 2015. Revenue generated by root9B, the Company’s cybersecurity solutions business, is expected to grow to more than $14.0 million and comprise 30% of total projected 2016 revenue, up from $3.0 million and 10% of revenue in 2015. Revenue at the IPSA/Business Advisory Solutions segment, which focuses on regulatory risk mitigation, is expected to increase to approximately $33.0 million, up from revenue of $24.6 million in 2015. Revenue generated by the Company’s other operations is expected to approximate $1.6 million in 2016.
Read more: http://www.wsj.com/articles/PR-CO-20160524-906003