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Nerds On Site boosts revenue driven by its strategic focus on cybersecurity

The information technology assistance provider is seeing its business boom as companies transition to a work-from-home model amid the coronavirus outbreak

Nerds On Site -
The Toronto-based information technology company posted a 22% increase in gross revenue between June 2019 and February 2020

Nerds On Site Inc (CSE:NERD) (OTCQB:NOSUF) said Tuesday that it posted a 22% increase in gross revenue between June 2019 and February 2020 driven by its strategic focus on the cybersecurity market.  

In a statement, the Toronto-based information technology said it is operating at full capacity after it was deemed an essential service amid the coronavirus pandemic.

Nerds CEO Charles Regan told shareholders the firm’s "strategic emphasis on cybersecurity," is propelling the business to grow in an “accretive fashion.” 

READ: Nerds On Site to focus on lucrative cybersecurity line as it eyes further growth in 2020

“The strategic emphasis on cybersecurity, which we implemented, is creating new business and broadening the uptake of our overall offerings," Regan said in a statement.

"We are establishing new client relationships in markets throughout North America as a result of the primary focus on cybersecurity services, and those clients are trending toward our comprehensive IT services once their cybersecurity requirements are met."

Since the coronavirus (COVID-19) pandemic caused a major transition to work-from-home around the world starting in March, NERDS is seeing its business boom. The company said it identified a major growth area in the cybersecurity needs of small- and medium-sized enterprises, and the results from its efforts are validating its model.

"Our trusted team of NERDS are safely assisting existing and new clients during these unprecedented conditions, with remote work from home and cybersecurity solutions," said Regan. "Our model is ideally suited to adapt to changing environments where remote workplaces are likely to be a more prevalent feature in the future, representing a market expansion for NERDS, which we are monitoring and responding to on a daily basis."

The cybersecurity marketing program is proving very effective, with operational measures in place to service the resulting backlog, according to Regan.

For the three-month period ended on February 29, 2020, NERDS posted revenue that increased by 15.5% compared to the same period in 2019. Net loss also decreased by 75% for the quarter compared to the same period in 2019.

The company provides cost effective solutions to small and medium-sized businesses, serving over 12,000 clients annually.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Nerds On Site

Price: 0.055 CAD

Market: CSE
Market Cap: $4.74 m

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