IronNet Shares Soar On Bagging US Navy's Naval Sea Systems Command Cybersecurity Contract

  • IronNet, Inc IRNT executed an initial federal contract to provide cybersecurity services for the U.S. Navy's Naval Sea Systems Command (NAVSEA), the largest of the U.S. Navy's five "systems commands." 
  • The agreement followed the completion of a successful pilot program that provided the IronNet Collective Defense Platform to NAVSEA.
  • "This initial contract, which has an annual recurring revenue (ARR) value of $1.2 million to IronNet, includes 17 DIB customers and should help us to establish a base with a branch of the U.S. military upon which we are working to expand," IronNet CEO and founder General (Ret.) Keith Alexander said.
  • The IronNet Collective Defense Platform serves as an early warning system for all participating companies and organizations, strengthening network security through correlated alerting, automated triage, and extended hunt support. 
  • Price Action: IRNT shares traded higher by 12.10% at $0.63 on the last check Tuesday.
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