This is the tech play of the moment on the TSXV exchange. Nubeva Technologies (TSXV: NBVA, OTCQB: NBVAF) has been 170% up since November, and the company has recently announced a new seven-figure sale for ransomware reversal solutions. Nubeva delivers significant milestones, proving the company can become a major tech player in North America, and why not worldwide.

Company Overview

Nubeva Technologies (TSXV: NBVA, OTC: NBVAF) is a tech company focused on online security and privacy by providing next-generation decryption technology to enable enterprise cybersecurity and application monitoring systems. Nubeva’s flagship technology, the SKI TLS decryption technology, represents an industry breakthrough that solves growing issues with legacy decryption and offers the more excellent capability and higher performance at lower costs. Founded on March 30, 2016, the company is Silicon Valley-based and headquartered in San Jose, California. The company has software development in Sydney, Australia, and operations in Singapore. The company has two core paths to market with its technology partners. The first one is sold as an Original Equipment Manufacturer Model, meaning Nubeva receives an upfront license fee, annual license fee + support, and a royalty for each unit sold. OEM partners sell Nubeva as their product and fully support their end-users using the feature set provided by Nubeva’s technology. The second path is to sell with formal technology support. It means Nubeva is sold as a product within the partner’s existing suite of monitoring tools through formal integration and technology support by the partnering company.

These partner companies are not buying Nubeva’s product but act as a high-leverage, low-cost sales, and marketing channel with a low barrier to adoption in their customer and prospect base.

On December 5, Nubeva announced a seven-figure, multi-year license agreement for its Ransomware Reversal solution that includes over one million dollars in an upfront payment. It results in a following of decryption successes against ransomware by Nubeva, including attacks from threat actors such as Lockbit, Royal, Conti, Ragnar Locker, Blackcat, Hive, and many others. The global enterprise company has chosen Nubeva’s Ransomware Reversal solution to enhance its strategy for ransomware attacks.

“After months of deep technical testing, the customer validated our technology and its value in the fight against ransomware,” said Randy Chou, Nubeva CEO, and founder. “Today, we have hundreds of thousands of sensor technology deployed, and we have a growing pipeline of significant opportunities. We feel very good about Nubeva’s outlook. This major win goes a long way to establish confidence with other prospects and potential partners.

In November, Nubeva was recently featured as a new solution to ransomware attacks in the ICE71-RSAC 365 Innovation Showcase on “The Future of Ransomware.” It followed when the company was awarded a US patent for its Session Key Intercept technology related to ransomware decryption. The technology detects and monitors computer encryption in real-time, retrieves session keys, and makes them available for decryption.

Randy Chou is the CEO and Founder of the company. Mr. Choux’s experience includes technical and management leadership in cloud, security, storage, and networking. Throughout his 20 years of work, he notably co-founded Panzura, which received $58M in funding led by four of Silicon Valley’s top venture capital firms, Matrix, Khosla, Opus, and Meritech. Before this, Mr. Chou was part of the founding team at Aruba Networks (“Aruba”), which became the leader in the enterprise Wi-Fi security market. Mr. Chou was with Aruba from July 2002 to July 2008 and left Aruba to found Panzura. Aruba filed for an IPO on NASDAQ in 2007 and was acquired by HP Enterprise in 2015 for $3B.

Share Structure/Financials

The company shared on September 29 its financial statement for the period ending July 31, 2022. Nubeva Technologies has a strong balance sheet, owning $3.2M in cash and money market instruments, and doesn’t have debts. The company had $77k in revenue, more than doubling this data compared to the same period in the year 2022. Regarding expenses, Nubeva spent $872k (through general and administrative expenses, research and development, sales and marketing, and share-based compensation. This number improved compared to 2021 over the comparable period, where this data was worth $1M. Management estimates that its working capital position will provide the company with sufficient financial resources to carry out planned operations through the next twelve months.

About the company’s share structure, 68M shares are issued and outstanding. Added to this data, 12.8M options exist at a weighted average exercise price of $0.78 for a period of 6 years. Just with the options, the company could receive almost $10M if all are exercised. Combined with this, Nubeva holds 2.5M warrants at a weighted average exercise price of $1.51. With the stock price above these exercise prices, the company could leverage them if needed. With a +4.34% gain on Friday’s close, NBVA gained +26.32% over the week. The stock price’s 52-week high is $2.53, and its 52-week low is worth $0.60.

Bottom Line

Nubeva Technologies (TSXV: NBVA, OTCQB: NBVAF) has strong momentum. The tech company recently received a US patent and was featured as a new solution to ransomware attacks in the ICE71-RSAC 365 Innovation Showcase on “The Future of Ransomware.” Most tech companies are going through times in the market, but Nubeva seems to have the investors’ trust.

‍