WhiteHawk Limited (ASX: WHK), the first global online Cyber Security Exchange, based on a platform architecture that is Artificial Intelligence (AI)-driven, with a focus on identifying, prioritising, and mitigating cyber risks for businesses of all sizes, is pleased to present Appendix 4E a preliminary final report for the period ended December 31, 2020.

Highlights

• WhiteHawk invoiced US$2.1M, recognising US$1.9M accrued revenue for 2020, doubling revenue for 2019. Revenue components are WhiteHawk's Cyber Risk Radar, formerly 360 Framework, accounted for US$633K, US$400K Cyber Risk Program, US$30K Lead Generation revenue and US$818K in government contracting.

• Executed on Phase 2 of current contract with U.S Department of Homeland Security (DHS) CISA QSMO Cybersecurity Marketplace, as sub-contractor to Guidehouse (formerly PWC Federal), for US$1.5 to US$1.8M Fiscal Year 2021, starting October 2020.

• Executing on the first sole-source Prime U.S. Federal Government CISO Cyber Risk Radar contract for base year and 4 option years, not to exceed US$1.18M per year with US$580K invoiced in five months of 2020.

• Executing next phase of and scoping 2021 Cyber Risk Program US$400K contract via a Global Consulting Firm in direct support of a Global Manufacturer, including: advanced risk validation by Red-Team prioritisation and mapping to Company risk priorities and how to best mitigate top risks ion 2021 via innovative best practices and solution options from our portfolio of almost 200 best of breed solution partners.

• In response to an initial partnership with a Global Insurance Group and a Request for Quote (RFQ) from a U.S. Manufacturer Association, we are productising the WhiteHawk Cybersecurity Exchange as a tailorable Platform as a Service (PaaS) that can be co-branded or white labeled to include: one time development costs upfront and an annual subscription service which includes improvements, training, technical maintenance and revenue share on all products and services sold from the marketplace. 

• One additional Global Insurance Group and 2 cloud base Managed Service Providers (MSP's) are interested in our PaaS Cybersecurity Exchange to service their business clients seamlessly and at scale.

• Underwent the due diligence to become an ESG (Environment, Social, Governance) Registered company, a new standard in measuring the sustainability and ethical impact that a company makes.

• COVID-19 Impact Update:

  • No delays in product line development, execution and client delivery.

  • Pivoted sales focus back to Defense Industrial Base and Government Contracting.

  • Able to hire top talent to meet current contract requirements and work and collaborate virtually.

  • Continue to experience contract scoping and completion delays of 60 to 90 days, with government and industry procurement teams.

WhiteHawk finishes 2020 with a cash position of US$2.4M and no debt.

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