Report Highlights

  • 2023 revenue was up 27% YoY, beating our estimate by 9%. Q1-2024 revenue grew 2% QoQ and 21% YoY, but fell short of our estimate by 10%, attributed to reduced marketing initiatives.
  • EBITDA and EPS remained negative, but improved YoY, aligning with our estimates.  
  • Although revenue growth continues to be driven by individual users in the U.S., Sekur has been gradually adding small and medium-sized businesses (SMBs).