Kalkine Media explores 3 TSX cybersecurity stocks ahead of Cyber Monday

Cyber Monday is around the corner and people are preparing for the same. It is the Monday following Thanksgiving weekend when companies offer many deals to consumers, both online and offline. Cyber Monday means a hassle-free shopping experience for the consumer.

However, post-pandemic, there are several uncertainties relating to consumer behavior. Some of them are inclined towards spending while others are focusing on saving. So, it may lead to different movements for different stocks.

With increasing use of technology and online platforms, cybersecurity sector is becoming famous among investors. The sector has a crucial role to play in preventing cyber-attacks and protecting sensitive information.

As an investor, it is your prerogative to study all the factors and fluctuations to get clarity on your stock selection. Once you reposition your portfolio accordingly, it may lead to stability eventually.

Amid this discussion, here are three stocks to analyze along with their recent financial performances:

1. Absolute Software Corporation (TSX: ABST)

Absolute Software Corporation offers cloud-based end point visibility and control platform. The company markets and develops platforms that provide computing devices security.  

In Q1 FY 2023, Absolute Software’s revenue grew to US$ 53.56 million compared to US$ 43.74 million in the year-ago quarter. The adjusted EBITDA declined to US$ 11.5 million from US$ 12.8 million for the same comparative period. The dividend paid by the company remains unchanged at US$ 3.2. The gross margin increased to US$ 43.3 million from US$ 35.2 million for the reported quarter. Absolute Software distributes a quarterly dividend of C$ 0.08 per share with a reported dividend yield of 2.344 per cent.

2. VIQ Solutions Inc. (TSX: VQS)

VIQ Solutions Inc. provides a service platform and technology for content management, capturing digital evidence, and retrieval. The company has a presence in Australia, the UK, Canada, and the US.

In Q3 2022, VIQ Solutions’ revenue was reported at US$ 11.78 million from US$ 7.08 million in Q3 2021. The EBITDA income grew to US$ 0.15 million from a loss of US$ 2.59 million for the same comparable period. The company’s gross profit increased to US$ 5.6 million from US$ 3.6 million.

VIQ Solutions’ total assets in two different periods:

3. WELL Health Technologies Corp. (TSX: WELL)

WELL Health Technologies Corp. owns Primary Hclinics that deliver healthcare-related services. The company’s operational segments include revenue cycle management, billing, digital apps, CRH, cybersecurity etc.

In Q3 2022, WELL’s revenue rose to C$ 145.78 million from C$ 99.3 million in Q3 2021. The company’s adjusted net income was noted at C$ 14.8 million compared to C$ 9.8 million for the same comparative period. The adjusted EBITDA grew to C$ 27.45 million from C$ 22.27 million.  

Bottom Line

While operating in the market, make sure to assess all the risk factors and take note of them. Further, form a risk mitigation strategy and diversify your portfolio. Risks form a vital part of the market and must be looked at carefully. As an investor, follow a diversified and risk-aversive approach to safeguard your portfolio from the present fluctuations and trends.

Please note, the above content constitutes a very preliminary observation based on the industry and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.