Why Is HUBC Stock Rising Pre-Market Today?

• The company said that it had struck a significant new commercial licensing software agreement with one of the world’s most prominent aerospace and defense manufacturers, but stopped short of revealing the name.
• HUB noted that it includes a perpetual license and multi-year support package for FavoWeb FRACAS.
• It said this platform will be used in “one of the most advanced aerospace development programs” currently underway, without revealing the program’s details.

Shares of HUB Cyber Security (HUBC) soared more than 11% in Thursday’s pre-market trade before the stock lost steam during the regular session. HUB Cyber Security announced a major commercial win after striking an agreement with a leading aerospace and defence manufacturer.

The company said that it had struck a significant new commercial licensing software agreement with one of the world’s most prominent aerospace and defense manufacturers, but stopped short of revealing the name.

It said that this agreement is expected to deliver “meaningful” six-figure revenues with a strong potential for growth.

Retail sentiment on Stocktwits around the HUBC stock trended in the ‘bullish’ territory, while message volumes were at ‘high’ levels at the time of writing.

What Is The Agreement About?

Detailing the terms of the agreement with the aerospace company, HUB noted that it includes a perpetual license and multi-year support package for FavoWeb FRACAS.

FavoWeb FRACAS is the company’s reliability intelligence platform that helps customers manage real-time failure tracking, predictive reliability analytics, and corrective-action workflows across complex fleets and high-performance systems. HUB says this platform will be used in “one of the most advanced aerospace development programs” currently underway, without revealing the program’s details.

HUB CEO Noah Hershcoviz said he expects this relationship to “expand substantially” going forward.

What Does HUB Do?

Founded in 2017, HUB offers confidential computing and cybersecurity solutions. The Tel Aviv, Israel-based company’s “Secure Data Fabric” (SDF) product allows customers to virtualize, secure, and analyze sensitive data across borders to generate real-time intelligence.

Last month, the company announced the completion of its financial restructuring of outstanding debt, stating that more than 75% of legacy obligations were covered as part of the exercise.

HUBC stock is down 87% year-to-date and 82% over the past 12 months.

Also See: Nvidia’s Jensen Huang Reportedly Reminds Author Stephen Witt Of Edison: ‘He’s Got An Inventor’s Mindset’

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on