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Plurilock Security (PLUR) investor relations material
Plurilock Security Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary20 Aug, 2025
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.
Explain 'product enabled' in new strategy
How will selective bidding prevent margin dips?
How to capitalize on global supply chain shift?
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Next Plurilock Security earnings date
Q3 202525 Nov, 2025
Next Plurilock Security earnings date
Q3 202525 Nov, 2025
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Frequently asked questions
Plurilock Security Inc. is a Canada-based cybersecurity company specializing in identity-centric solutions to prevent cyber threats. The company provides advanced authentication and access control technologies, including continuous behavioral biometrics that verify users based on unique behavioral patterns. The company is headquartered in Victoria, British Columbia, Canada, and its shares are listed on the TSX.
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