A few cybersecurity companies released their quarterly earnings reports today, revealing a tough period.
Cloudflare’s Q4 revenue fell short. Fortinet’s quarterly revenue forecast disappointed investors. Akamai Q4 forecast revenue below estimates, blaming weak client spending. Reuters reporting said competition in the cybersecurity market intensified, making it a tougher quarter for the companies.
A bright spot, however, came from IT services provider Kyndryl, which beat estimates for its fiscal Q2 on its consulting strength. Kyndryl’s strong MSSP business put it at the top of our MSSP 250 list in 2024.
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Today’s MSSP Update
1. PitchIT winner - Automated system hardening and compliance solutions company Senteon has won the ConnectWise IT Nation PitchIt competition. The company was awarded the $70,000 grand prize. Runner-up PC Powersave was recognized for its unique approach to computer energy consumption and will be awarded $30,000.
2. Guardz survey and partnership - Guardz is partnering with SentinelOne to offer MDR as part of its all-in-one cybersecurity platform for MSPs that also includes email security, endpoint security, cloud data protection vulnerability detection and employee awareness training. Guardz also released a survey this week showing that 65% of MSPs work with 4 to 9 different cybersecurity point solutions and 12% use 10 or more.
3. FedRAMP status - The Trellix GovCloud Security Platform has received authorization at the FedRAMP High Impact Level and is available immediately for all federal agencies and organizations requiring FedRAMP-authorized cybersecurity solutions.
4. New integrations - Entro Security’s NHI Detection and Response (NHIDR) Engine has been extended to integrate with Microsoft Teams, Slack and Torq to simplify workflows by directly interacting with stakeholders and owners of misused identities. The company has also expanded its API capabilities to streamline security automation workflows.
5. SonicWall subscription device - SonicWall has launched the TZ80, a security solution designed for branch offices and small office/home office (SOHO) environments. It is a subscription-based device designed for service providers and VARs, the company said.
6. Securing AI - More than two-thirds (68%) of security professionals said an external and unbiased review of AI implementations is the most effective way to mitigate AI safety and security risks overall, according to HackerOne’s eighth annual security report.
7. Zero trust partnership - AppOmni is partnering with Cisco to extend SaaS security with end-to-end zero trust from the endpoint to the application. This will enable organizations to seamlessly implement zero trust principles to secure data from endpoint to SaaS, representing the first complete application of zero trust principles to secure SaaS deployments, the company said.
