Plurilock Security (PLUR) investor relations material

Executive summary

• Global cyber threats rose over 20% year-over-year, with Europe seeing the sharpest increase due to geopolitical tensions and regulatory fragmentation.

• Focus remains on high-value, mission-critical cybersecurity solutions for North America and NATO-aligned markets, with a shift toward services-led, product-enabled, and AI-native delivery.

• Critical Services revenue grew 159% year-over-year, becoming the core growth engine and driving higher margins and long-term client relationships.

• Strategic divestiture of CloudCodes to focus on enterprise and government markets, moving away from SMB/SME segments.

• Strategic focus on margin expansion and high-trust government and defense contracts.

Financial highlights

• Q2 2025 revenue increased 15% year-over-year to $16.4M, up from $14.3M in Q2 2024; six-month revenue reached $35.4M, up from $27.1M.

• Critical services revenue grew 159% year-over-year to $4.3M, now 26% of total revenue.

• Gross margin declined to 12% in Q2 2025 from 14.7% in Q2 2024, impacted by a one-time lower margin resell order.

• Adjusted EBITDA loss improved 42% to -$1.4M from -$2.4M in Q2 2024.

• Net loss for Q2 2025 was $(2.2)M, or $(0.03) per share, compared to $(3.7)M, or $(0.10) per share, in Q2 2024.

Outlook and guidance

• Strategy for 2025 is to expand margins via critical services and selective commercial resell, maintaining strong liquidity.

• Healthy pipeline across enterprise, defense, and public sector, with expected uptick in second half due to seasonal budget resets.

• International expansion underway in Europe, NATO, and Middle East, leveraging credibility with Canadian and US federal clients.

• Focus on multi-year, recurring contracts and selective pursuit of higher-margin opportunities.

• Focus on margin expansion and EBITDA positivity through prioritizing high-margin services and OpEx reduction.