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Thursday 25 July 2024

WhiteHawk (ASX: WHK): Wins its first contract with an ASX 100 company

WhiteHawk Limited (ASX:WHK), is the first global online AI-based cyber security exchange enabling all businesses and organizations to take smart action to prevent cybercrime, fraud, and disruption and mitigate the impacts continuously – with automated and scalable Cyber Risk Assessments, SaaS, and Platform as a Service (PaaS) product lines that are tailored for clients of all sizes.

The Company is pleased to announce that a First Cyber Risk Program SaaS subscription has been contracted with an ASX 100 Company for an Independent Cyber Audit based on external, non-invasive continuous monitoring for 12 months to identify, prioritize, and validate cyber risks to an organization’s revenue and reputation. Additional features have been scoped for implementation in 2024.

Highlights:

• Cyber risk monitoring for three Business Units where analytics are performed to provide an executive, actionable overview

• Continuous cyber risk monitoring

• Quarterly comprehensive Cyber Risk Assessment

• Cyber Risk Findings Report that details analysis and vulnerability details

• 40-hours of SME services to support debrief of results, recommendations, and additional analysis as requested.

Commentary:

Terry Roberts, Executive Chair of WhiteHawk, commented, “ Although WHK has had contracts previously with small Australian Clients, we have now contracted with a large Australian Company for an annual subscription of our proven, AI-Based Cyber Risk Program, with the ability to add key features throughout 2024. Whilst Phase 1 revenues from this contract are A$70,800, there is an inbuilt ability to add fee-paying additional services throughout the life of the contract. This is an important contract that gives us material visibility in the Australian market to complement our success in the US market over the past 5 years, enabling WHK to demonstrate the impact of our AI-based Cyber Risk Program SaaS subscriptions across the Australian Large Cap Sector.”

ASX announcement: https://announcements.asx.com.au/asxpdf/20240710/pdf/065fv7lb43dkpv.pdf

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