CISO Global, Inc.

Listed Company

CISOCIK 0001777319NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthServices-Management Consulting ServicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$26.61M

Net Income

$-8.07M

Total Assets

—

Equity

—

Shares Out

45.31M

Op. Cash Flow

$-7.97M

Business

CISO Global, Inc. is a cybersecurity, compliance, and software firm that provides integrated security services and proprietary security platforms. Its main offerings include compliance consulting, secured managed services, a 24/7 SOC with MDR/XDR/SIEM, virtual CISO services, incident response and forensics, security testing and training, and a suite of cybersecurity software products such as CISO Edge, CHECKLIGHT, and Argo. The company organizes its operations across Security Managed Services, Professional Services, and Cybersecurity Software segments. It serves a diverse customer base in the U.S. and internationally through direct recurring contracts and an expanding channel and partner ecosystem.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenue	27	31	34	47	15
Total cost of revenue	20	26	31	44	13
Total gross profit	7	5	3	3	2
Professional fees	2	1	3	2	1
Advertising and marketing	1	—	449,231	804,218	435,016
Selling, general and administrative	11	13	18	23	10
Stock-based compensation	2	5	8	10	8
Total operating expenses	16	19	66	36	42
Loss from operations	−9	−15	−63	−33	−40
Gain on extinguishment of convertible notes, net	4	—	—	—	—
Loss on issuance of convertible notes	—	−1	—	—	—
Change in fair value of derivative liability	5	−593,083	—	—	—
Interest expense, net	−9	−4	−2	—	—
Other income (expense)	11,872	−116,061	245,920	43,332	−39,063
Total other income (expense)	711,122	−5	−2	−637,589	634,374
Loss from continuing operations before income taxes	−8	−20	−65	−34	−39
Benefit from income taxes	—	—	—	−549	—
Loss from continuing operations	−8	−20	−65	—	—
Loss from discontinued operations, net of income taxes	—	−4	−15	—	—
Net loss	−8	−24	−80	−34	−39
Continuing operations	−0.3	−1.67	−5.85	—	—
Discontinued operations	—	−0.36	−1.37	—	—
Net loss per share	−0.3	−2.03	−7.22	−3.64	−0.33
Continuing operations	−0.42	−1.67	−5.85	—	—
Discontinued operations	—	−0.36	−1.37	—	—
Net loss per share	−0.42	−2.03	−7.22	−3.64	−0.33
Basic	30	12	11	9	119
Diluted	31	12	11	9	119
Foreign currency translation adjustments	−5,910	−4,779	—	—	—
Other comprehensive loss	−5,910	−4,779	—	—	—
Comprehensive loss	−8	−24	−80	−33	−39

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	2	992,589	241,643	2	3
Accounts receivable, net of allowance for credit losses of $60,551 and $124,434 at December 31, 2025 and 2024, respectively	1	2	3	8	5
Prepaid cost of revenue	70,216	334,143	—	—	—
Prepaid expenses and other current assets	204,997	137,725	205,919	2	948,726
Contract assets	91,956	179,093	197,656	332,215	—
Total Current Assets	3	3	26	14	10
Property and equipment, net	450,104	730,511	1	5	2
Operating lease right-of-use assets, net	370,345	537,173	762,228	255,687	277,578
Intangible assets, net	881,075	2	4	8	7
Goodwill	20	20	20	56	17
Prepaid cost of revenue, net of current portion	29,989	73,021	32,375	—	—
Other assets	131,966	129,916	70,173	22,592	—
Total Assets	25	27	52	104	36
Accounts payable	3	6	—	—	—
Accrued expenses and other current liabilities	2	4	—	—	—
Deferred revenue	1	1	1	4	52,824
Lease liabilities	181,478	170,289	219,342	121,731	196,472
Loans payable	83,983	3	2	8	213,199
Line of credit	2	2	—	—	—
Derivative liability	—	2	—	—	—
Total Current Liabilities	8	25	30	23	5
Deferred revenue, net of current portion	33,673	84,403	84,294	—	—
Loans payable, net of current portion	3,605	37,272	74,542	4	5
Lease liabilities, net of current portion	260,572	428,070	596,307	159,205	88,040
Total Liabilities	8	26	36	28	11
Commitments and Contingencies (Note 12)	—	—	—	—	—
Common Stock, $.00001 par value; 300,000,000 shares authorized; 45,173,774 and 12,324,003 shares issued at December 31, 2025 and 2024, respectively; 44,671,637 and 11,821,866 outstanding at December 31, 2025 and 2024, respectively	451	123	119	97	1,258
Additional paid-in capital	205	184	173	153	69
Treasury stock, at cost (502,137 shares)	−290,737	−290,737	—	—	—
Accumulated other comprehensive loss	−10,689	−4,779	1	1	—
Accumulated deficit	−190	−182	−158	−78	−44
Total Stockholders Equity	15	1	16	76	25
Total Liabilities and Stockholders Equity	25	27	52	104	36

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation - stock options	4	9	11	15	8
Stock-based compensation - stock issued for services	438,915	57,900	—	—	—
Non-cash interest expense	10	364,721	—	—	—
Depreciation and amortization	1	2	3	3	294,858
Non-cash operating lease costs	166,828	285,270	—	—	—
Bad debt expense	46,719	93,803	—	—	—
Other	1,751	117,066	200,317	35,782	55,528
Accounts receivable	589,741	2	2	−979,898	−2
Inventory	—	161,586	−217,664	173,156	497,893
Contract assets	87,137	18,563	134,559	−166,908	—
Prepaid expenses and other assets	237,637	72,234	−493,328	−3	−229,813
Accounts payable	−3	−179,237	—	—	—
Accrued expenses and other current liabilities	−2	784,761	—	—	—
Lease liabilities	−156,309	−277,505	−199,069	−206,870	−111,749
Deferred revenue	−391,320	391,572	789,206	2	45,340
Net cash used in operating activities	−8	−4	−6	−11	−7
Purchases of property and equipment	−7,491	−83,095	−213,629	−512,247	—
Net cash used in investing activities	−7,491	−83,095	−160,158	−6	2
Proceeds from sales of common stock, net of offering costs	3	154,947	—	—	—
Proceeds from stock option exercises	3,102	—	491,853	1	50,000
Proceeds from issuance of Series B Preferred Stock, net of offering costs	2	—	—	—	—
Proceeds from exercises of warrants	2	—	—	—	—
Proceeds from loans payable	—	6	7	5	9,110
Proceeds from convertible notes payable	4	3	5	—	133,018
Proceeds from line of credit	19	3	264,723	86,585	221,346
Payments on line of credit	−19	−1	−261,591	—	−224,346
Payments on loans payable	−2	−6	−12	−369,829	−2
Payments on convertible notes payable	—	—	−3	—	—
Payments of debt issuance costs	−408,642	−579,000	−191,500	−25,000	—
Net cash provided by financing activities	9	4	6	16	3
Effect of exchange rates on cash and cash equivalents	—	−59,214	−883,497	60,170	—
Net increase (decrease) in cash and cash equivalents	703,405	−69,853	−770,721	−891,872	−2
Interest	817,381	3	2	512,374	91,490
Income taxes	—	—	—	—	—
Operating lease assets obtained in exchange for operating lease liabilities	—	60,215	733,782	476,986	—
Common stock issued as a lending discount	—	122,000	218,000	—	—
Common stock issued in exchange for services	438,915	—	99,000	—	—
Debt conversion to equity - common stock	9	—	—	—	—
Debt conversion to equity - Series A Preferred Stock	4	—	—	—	—
Conversion of Series A Preferred Stock to common stock	4	—	—	—	—
Conversion of Series B Preferred Stock to common stock	302,400	—	—	—	—
Accretion of Series B Preferred Stock to redemption value	699,445	—	—	—	—

Filings

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