Kaspersky reports 2021 financial results
Kaspersky delivered stable business growth in 2021 and increased its global non-audited International Financial Reporting Standards (IFRS) revenue to a total of $752 million*, representing a 6.5% YOY increase*. Following the second year of the pandemic, the company achieved positive results driven primarily by the B2B segment with large increases in enterprise sales.
Amid an ongoing digital transformation, the demand for cybersecurity solutions remained robust for many organizations in 2021, with Kaspersky helping business to continue growing while mitigating cybersecurity risks. The company’s advanced technological developments to ensure the protection of its customers around the globe led to significant success (+19% YOY**) in the B2B sector.
In 2021, Kaspersky’s Corporate Business showed the best sales results in the company’s history, delivering major growth in strategic business areas - enterprise (+29% YOY**) and non-endpoint*** specifically (+50% YOY**). Key solutions to protect businesses from the most sophisticated attacks, like Kaspersky Anti Targeted Attack Platform and Kaspersky Threat Intelligence services, saw significant increases, +92% and +36 YOY** respectively.
The company has focused on enhancing its product portfolio to cover all customer cybersecurity needs through continued investment into R&D and technological development. In 2021, Kaspersky launched 10 new products/services and released more than 250 large-scale updates for existing products, significantly improving their functionality. For instance, one of the company’s leading solutions, Kaspersky Industrial CyberSecurity, demonstrated +63% YOY** growth and was reinforced with a centralized management dashboard for security monitoring of the entire OT (operational technology) infrastructure. This included a map of all geographically distributed assets enriched with events, incident analytics and more. Kaspersky also obtained 137 patents in 2021, bringing its total number of patents to 1,240.
In addition, Kaspersky acquired Brain4Net to boost its XDR platform with a Secure Access Service Edge (SASE) offering, allowing it to provide both Enterprise and SMB organizations natively integrated cross-product solutions with expanding and internally developed offerings.
Kaspersky also achieved significant growth in the SMB business segment, with a 9%** YOY increase as a result of strategic sales development and 6% YOY** growth in B2B digital sales. The intensified acquisition activities across various digital platforms, together with modified retention tactics, also ensured sales growth in the B2C digital segment (+2% YOY**). However, the ongoing lockdown restrictions in many markets greatly affected the B2C retail segment and held back full recovery. Overall, the B2C segment showed a slight decline in sales (-1% YOY**).
Andrey Efremov, Chief Business Development Officer at Kaspersky, comments: “In 2021, we achieved many things. Our corporate business delivered the best results in the company’s history, and several important new products were launched. We worked hard to achieve this. Among other things, we developed a new business strategy aimed at making the company stronger and more resilient in this rapidly evolving world.
Our vision is to protect our customers – both business and consumer – from all possible attack vectors. And to do this we are creating a complete security ecosystem. In B2B, we will be able to cover all the security needs of every type of business – from small businesses to managed security service providers (MSSP), national-level security operations centers (SOCs), large enterprises and government organizations. We have also continued to strengthen our Global Transparency Initiative designed to further our commitment to the impartial, independent and responsible cybersecurity market.”
Globally, the company’s performance was driven by positive results in most regions, especially in Russia, the Baltics, Central Asia and the Commonwealth of Independent States (CIS)**** (+25% YOY**); the META region (Middle East, Turkey and Africa) (+16% YOY**); Latin America (+11% YOY**); Europe (+4% YOY**); as well as the Asia-Pacific region (+3% YOY**). The sales results in the North American region declined, compared with last year (-6% YOY**).
Kaspersky continues to maintain its leading position on the TOP3 metric for consumer and corporate cybersecurity products: in 2021, the company’s products underwent 75 different independent tests and reviews, achieving podium placements (first, second or third) on 63 of them – of which, 57 were first place finishes. In addition, based on the AV-TEST assessment, Kaspersky Endpoint Security Cloud demonstrated 100% efficiency against ransomware attacks and outran 10 different cybersecurity vendors.
In 2021, Kaspersky continued to progress its Global Transparency Initiative. The company released its first transparency report, revealing information on the requests it received in 2020 and H1 2021 from government and law enforcement agencies and from users for data and technical expertise. Moreover, the company made the Software Bill of Materials (SBOM) available to customers and partners to empower them with up-to-date information on what’s inside the company’s products and software architecture.
To learn more about the company’s transparency and its achievements, visit the website.
All growth rates are represented eliminating foreign exchange rate changes.
* Figures are rounded for easier reading. Revenue was USD $752.28 million. The YOY increase is 6.56%.
** All segment and regional figures are in net sales bookings, not revenue; presented in fixed rates as of year 2021.
*** YOY growth in the enterprise and SMB segments in non-endpoint.
**** Countries in the abovementioned region include Armenia, Azerbaijan, Belarus, Estonia, Georgia, Kazakhstan, Kyrgyzstan, Latvia, Lithuania, Mongolia, Russian Federation, Tajikistan, Turkmenistan and Uzbekistan.
Kaspersky is a global cybersecurity and digital privacy company founded in 1997. Kaspersky’s deep threat intelligence and security expertise is constantly transforming into innovative security solutions and services to protect businesses, critical infrastructure, governments and consumers around the globe. The company’s comprehensive security portfolio includes leading endpoint protection and a number of specialized security solutions and services to fight sophisticated and evolving digital threats. Over 400 million users are protected by Kaspersky technologies and we help 240,000 corporate clients protect what matters most to them. Learn more at www.kaspersky.com.