Shares in WhiteHawk soar on first Prime Contractor award worth up to US$5.9 million

By Trevor Hoey. Published at Jul 28, 2020, in Technology

WhiteHawk Limited (ASX:WHK), the first global online cyber security exchange enabling businesses of all sizes to take smart action against cybercrime has been contracted by a US federal government CISO (Chief information Security Officer) to implement WhiteHawk’s Cyber Risk Radar.

This resulted in a substantial increase in the company’s share price as it soared approximately 50% on Tuesday morning — a near 14 month high.

The contract will provide continuous monitoring, prioritisation, and near real-time mitigation of an enterprise’s teammates, vendors, or supply chain’s cyber risks over time, including the identification and prioritisation of a risk mitigation strategy.

As this is the first US federal contract where WhiteHawk has been nominated as the Prime Contractor, it is an extremely important development and Terry Roberts, executive chair of WhiteHawk said, “After a very successful Proof of Value early last year, now we are putting in place our first 5-year Cyber Risk Radar contract with a sophisticated US government CIO, who will work with us to take the capabilities of our platform and virtual services to the next level.”

On three other US federal Department CIO Contracts, WhiteHawk is a Cyber Solution sub-contractor to Accenture Federal, SAIC and Guidehouse (formerly PWC Federal).

WhiteHawk Cyber Risk Scorecards will be provided quarterly, virtually and remotely, for 150 to 300 vendors to this US Federal Government CISO, via an integrated risk management dashboard.

Annualised revenue of $1.2 million

The annual Software as a Service (SaaS) contract, will see WhiteHawk generate base revenues of US$580,000 and up to an additional US$600,000, with up to nearly US$1.2 million each year of the contract, with four additional option years at the same levels.

Cyber Risk Radar is an annual SaaS subscription service developed by WhiteHawk consisting of quarterly services that include Cyber Risk Scorecards, Cyber Risk Portfolio Reports, and ongoing conversations with a professional Cyber Analyst.

This contract is the result of a Proof of Value that was implemented early in 2019 across 10 vendors for the same US government agency.

WhiteHawk demonstrated through automation and subject matter expertise, the status and health of suppliers using global publicly available data sources, AI analytics, and custom Cyber Analytics to assess and report on top risk indicators and vectors, areas that may require prioritised attention.

Because the Cyber Risk Radar approach is externally available data and is non-invasive, WhiteHawk does not require access to internal IT assets and configurations in order to deliver its services.

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why Finfeed.com is Australia’s leading small cap publication

Founded seven years ago, Finfeed.com is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise.

Finfeed.com provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more.

Finfeed.com is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!

X