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Here are 1-3 brief analogies for CISO Global (CISO):

• ADP for cybersecurity. (Like ADP manages payroll and HR for businesses, CISO Global manages cybersecurity.)
• H&R Block for business cybersecurity and compliance. (Like H&R Block provides expert tax services, CISO Global provides expert cybersecurity and compliance services for businesses.)

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• Security Managed Services: Ongoing management and monitoring of cybersecurity systems and infrastructure.
• Cybersecurity Consulting: Expert advice and strategic guidance on various cybersecurity challenges and initiatives.
• Compliance Auditing: Assessing an organization's adherence to relevant cybersecurity regulations, standards, and policies.
• Vulnerability Assessment: Identifying and evaluating security weaknesses within systems, networks, and applications.
• Penetration Testing: Simulating cyberattacks to discover exploitable vulnerabilities and evaluate security controls.
• Disaster Recovery: Planning and implementation of strategies to restore IT operations after a disruptive event.
• Data Backup: Solutions for creating and storing copies of data to prevent loss and ensure business continuity.
• Cybersecurity Training: Educational programs designed to enhance employee awareness and skills regarding cyber threats and best practices.

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CISO Global Inc. (CISO) operates as a cybersecurity and compliance company that primarily sells its services to other companies and organizations, rather than individuals.

While the company's SEC filings consistently disclose that a significant portion of its revenue is derived from a limited number of customers (for instance, in the nine months ended September 30, 2023, two customers accounted for 14% and 10% of revenue respectively), the names of these specific major customer companies are not publicly disclosed in their financial reports or investor communications.

Therefore, CISO Global Inc. does not publicly identify its major customers by name.

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David Jemmett, CEO & Founder

David Jemmett is the CEO and founder of CISO Global Inc. He has over 35 years of executive management and technology experience in telecommunications, managed services, and cybersecurity consulting services. Under his leadership, CISO Global has rapidly expanded through the acquisition and integration of 17 regional and international firms specializing in cybersecurity. He has also shared his expertise on telecommunications and Internet security before both the U.S. Congress and Senate Subcommittees.

Deb Smith, CFO

Deb Smith serves as the Chief Financial Officer of CISO Global Inc., overseeing all aspects of the company's financial strategy, reporting, business planning, treasury, controller, and audit operations. She brings decades of corporate finance experience to this role, having held positions such as chief financial officer, chief accounting officer, and senior vice president of global accounting. Smith has been instrumental in managing the complex financial aspects of successfully acquiring and integrating 17 companies for CISO Global.

Gary Perkins, CISO

Gary Perkins is the Chief Information Security Officer at CISO Global, where he is responsible for driving cybersecurity strategies and risk management initiatives. He possesses over 20 years of leadership experience in the cybersecurity industry across both public and private sectors. Prior to joining CISO Global, Perkins served as the Chief Information Security Officer for British Columbia and as Chief of Staff for the Chief Security Office at Telus, a Canadian multinational publicly traded holding company. He holds a Master of Business Administration (MBA) in the Management of Technology.

Kyle J. Young, Interim Chief Operating Officer

Kyle J. Young holds the position of Interim Chief Operating Officer at CISO Global.

Michael Czerneda, Vice President of Sales

Michael Czerneda was appointed Vice President of Sales in February 2026. He brings over 30 years of sales leadership experience from the cybersecurity, cloud communications, and enterprise technology markets. Before joining CISO Global, Czerneda was the National Director of Sales at Crescendo Business Solutions, where he led a national team delivering AI-enabled cloud communications and cybersecurity solutions. He also held senior leadership roles at Nexttiva and Cisco.

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Here are the key risks to CISO Global Inc.:

1. Profitability and Cash Flow Issues: CISO Global faces significant challenges with profitability and consistent cash flow generation, despite reporting revenue growth. The company has experienced negative net income and operational cash flows, along with a notable cash burn rate. Its balance sheet shows current liabilities exceeding assets and a high debt-to-equity ratio, indicating financial strain. While a strategic convertible note investment provided some temporary liquidity, it has not fundamentally resolved the underlying margin issues.
2. Highly Competitive Cybersecurity Market: CISO Global operates within a intensely competitive cybersecurity industry. Described as a smaller player in this sector, it faces strong competition from larger and more established companies, such as CrowdStrike. This competitive environment places pressure on the company's service margins and could hinder its ability to capture substantial market share and achieve long-term profitability. CISO Global is attempting to mitigate this by shifting towards higher-margin, recurring-revenue software offerings.
3. Integration Risks from Acquisitions: CISO Global has pursued an aggressive growth strategy, completing numerous strategic acquisitions (at least 12 since October 2019 and 16 since 2019). While acquisitions can drive expansion, they also introduce considerable integration risks. Successfully combining disparate companies, their technologies, and their personnel into a cohesive, efficient, and profitable operation can be complex and resource-intensive, potentially diverting management focus and financial resources.

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CISO Global Inc. operates in various segments of the cybersecurity market. Here are the addressable market sizes for their main products and services:

• Managed Security Services: The global managed security services market was estimated at USD 27.2 billion in 2022 and is projected to reach USD 87.51 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 15.4% from 2023 to 2030. Another estimate places the global market at USD 35.5 billion in 2024, expecting it to reach USD 94.6 billion by 2033 with a CAGR of 10.94% from 2025-2033. In the United States, this market was valued at USD 8.77 billion in 2024 and is expected to grow to USD 19.43 billion by 2032, with a CAGR of 10.43% from 2025–2032.
• Cybersecurity Consulting: The global cybersecurity consulting market was valued at approximately USD 10.1 billion in 2023 and is projected to reach around USD 20.2 billion by 2032, exhibiting a CAGR of 8.2%. Another report states the global market was valued at USD 17.10 billion in 2025 and is estimated to reach USD 48.33 billion by 2031, growing at a CAGR of 18.91% during the forecast period. For the U.S., the IT security consulting market size was USD 18.1 billion in 2024 and is expected to grow to USD 22.1 billion by 2032, with a CAGR of 2.7% during 2025–2032.
• Vulnerability Assessment and Penetration Testing: The global penetration testing market was valued at USD 2.45 billion in 2024 and is projected to grow to USD 6.25 billion by 2033, with a CAGR of 12.5% from 2025–2033. Cybersecurity Ventures predicts the global penetration testing product and service market will exceed USD 5 billion annually by 2031.
• Disaster Recovery (as a Service): The global Disaster Recovery as a Service (DRaaS) market size was valued at USD 10.8 billion in 2024 and is estimated to reach USD 89.8 billion by 2033, demonstrating a CAGR of 25.24% from 2025–2033. The North American region held a market share of 35.8% in 2024. In the United States, the DRaaS market generated a revenue of USD 3,531.5 million in 2023 and is expected to reach USD 15,308.9 million by 2030, with a CAGR of 23.3% from 2024–2030.
• Data Backup: The global market for Data Backup and Recovery was valued at US$11.1 billion in 2024 and is projected to reach US$16.9 billion by 2030, growing at a CAGR of 7.3% from 2024 to 2030. The North America segment held 39% revenue share in the market in 2023 and the global market size is expected to reach $27.86 billion by 2031, rising at a market growth of 10.1% CAGR during the forecast period.
• Cybersecurity Training Services: The global cybersecurity training market was valued at USD 1,837.13 million in 2023 and is projected to reach USD 5,705.08 million by 2030, representing a CAGR of 18.56% during the forecast period from 2024 to 2030. In the United States, the cybersecurity training market is expected to reach a projected revenue of US$ 3,221.4 million by 2030, with a CAGR of 14.7% from 2024 to 2030.

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Expected Drivers of Future Revenue Growth for CISO Global (CISO)

CISO Global (NASDAQ: CISO) is poised for future revenue growth over the next 2-3 years, driven by several strategic initiatives and prevailing market trends in the cybersecurity and compliance sector.

1. Expansion and Adoption of AI-powered CHECKLIGHT® Software and Warranty-Backed Offerings: CISO Global anticipates significant growth from its proprietary AI-powered CHECKLIGHT® endpoint detection and response (EDR) platform, particularly with its bundled warranty-backed solutions under the CyberSimple™ brand. Management has doubled anticipated software bookings for 2025 to $10 million, fueled by a nationwide rollout through strategic partnerships. The unique offering of up to $1.5 million in financial protection for qualifying cyber events is a key differentiator, appealing to small-to-mid-sized businesses (SMBs), professional employer organizations (PEOs), and financial management firms.
2. Strategic Partnerships and Market Penetration into Underserved Segments: The company is actively expanding its reach by forming strategic alliances and leveraging reseller networks to penetrate new and underserved markets. This includes the nationwide distribution of its CyberSimple™ software through networks like Financial Independence Group (FIG) and Cyber Assurance Group Inc. (CAGI), targeting a $2 billion addressable market for warranty-backed cybersecurity. Furthermore, CISO Global is extending its CHECKLIGHT® packages to new sectors such as dental clinics through partnerships like TeleDental, tapping into a combined addressable market estimated at $33 billion.
3. Growing Demand for Cybersecurity and Compliance Services Amidst Escalating Threats: The increasing landscape of cyber threats, coupled with tighter regulatory requirements and a persistent cybersecurity skills gap, is driving a growing demand for managed security services and compliance solutions. CISO Global, as a managed cybersecurity and compliance provider, is well-positioned to capitalize on this trend. Its subsidiary, TalaTek, achieving C3PAO status under the CMMC program, further enhances the company's ability to provide certified third-party assessments to the Defense Industrial Base, unlocking new revenue opportunities in a highly regulated sector.
4. Strategic Shift Towards High-Margin, Software-Led Revenue and Operational Efficiencies: CISO Global is undergoing a strategic realignment, focusing on increasing its high-margin software revenue while enhancing operational efficiencies through the integration of its proprietary AI-driven security software. This pivot is expected to significantly expand margins and contribute to sustained profitability. The appointment of key executives, including a sales veteran for software growth and an EVP of Cybersecurity & IT, underscores this strategic emphasis on scalable, software-led revenue growth and innovation.

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Share Repurchases

No significant share repurchase programs or activities were identified within the last 3-5 years.

Share Issuance

• CISO Global Inc. increased its authorized common stock from 300 million shares to 1.3 billion shares, effective January 12, 2026, following stockholder approval at the December 10, 2025 annual meeting.
• The company filed an S-3 shelf registration statement to offer and sell up to $100 million in various securities, including common stock, with a specific sales agreement for up to $10.38 million in common stock sales.
• CISO Global conducted an equity offering under Rule 506(b), totaling $9,297,895, which involved both equity and the exchange of convertible notes for Series A Preferred Stock.

Inbound Investments

• On December 16, 2024, CISO Global received a strategic investment of $6,500,000 from investors, led by Target Capital, in the form of a convertible note, primarily aimed at paying down short-term debt and improving the balance sheet.
• CISO Global secured a $15 million convertible preferred equity facility with B. Riley Securities Holdings.
• JC Associates disclosed a 34% stake in CISO Global Series A Preferred as of September 9, 2025.

Outbound Investments

• CISO Global has completed 12 strategic acquisitions since October 2019 to expand its cybersecurity and compliance businesses.
• Notable acquisitions by the company (formerly Cerberus Cyber Sentinel Corporation) include Arkavia Networks SPA in December 2022 and Ground Control IT in June 2022.

Capital Expenditures

• CISO Global's capital expenditures have been minimal, with a trailing twelve months (TTM) figure of -$0, -$0.08 million in FY 2024, -$0.21 million in FY 2023, and -$0.51 million in FY 2022.
• The company's Capital Expenditures to Operating Cash Flow CAGR for the trailing twelve months and the past 5 years has been 0%.