Last Updated on 22/11/2021 by Nidhi Khandelwal
Image courtesy; Investor’s Business Daily
Despite the burgeoning cybersecurity sector, many companies in the area are losing money, according to The Wall Street Journal (WSJ).
According to the research, 17 of the 26 companies examined by the Wall Street Journal had net losses in the previous fiscal year. For the past three fiscal years, twelve have had net losses.
While it’s understandable for a business to take some time to get off the ground, many cybersecurity businesses are still losing money while they spend time reinforcing their principles and spending money on sales, marketing, and research, according to the survey.
The research expresses concern that certain businesses may not be able to keep up with the influx of capital.
Investors have caught on as more aspects of daily life become computerised. The cybersecurity business has seen a significant increase in ransomware assaults, espionage incidents, and other hacks, resulting in increased spending to combat them. According to the research, the new wave of risks has resulted in increased spending in both the public and private sectors.
For example, Mark McClain, CEO of cybersecurity firm SailPoint Technologies Holdings, told the Wall Street Journal that since the pandemic’s rise in intrusions, investors have been more interested in SailPoint.
According to CNBC, U.S. companies are expecting that inbound international travellers would help boost holiday shopping season sales.
According to the source, President Joe Biden’s government will begin admitting foreign visitors into the nation on Monday (November 7). Over 30 According to the survey, lifting travel restrictions would likely not be an immediate cure for the retail business, as it will take time to recover to pre-pandemic levels in terms of both travel and spending. There are also fewer flights due to rigorous pandemic-era travel controls, such as long lineups and confirmation of vaccination, which may prevent some passengers.
According to the research, other countries, such as China, continue to impose restrictions on outbound travel.
Retailers, on the other hand, have viewed the adjustment as a potential opportunity to boost sales, according to the study.
countries, including the United Kingdom and Brazil, have been barred from entering the United States since the pandemic began in early 2020.