HUBCZNasdaqComputer Communications EquipmentUS GAAP · USD

Hub Cyber Security Ltd.

Hub Cyber Security Ltd. is a cybersecurity and confidential-computing company based in Tel Aviv, Israel and listed on Nasdaq under HUBC. It develops secured data fabric technology that helps organizations virtualize, secure, and analyze sensitive data across systems and jurisdictions.

Revenue29.6m USD
−30.7 %y/y
Operating profit (EBIT)-24.7m USD
+68.2 %y/y
EBIT margin-83.5%
+98.4 ppy/y
Net income-39.8m USD
+54.5 %y/y
Free cash flow-17.2m USD
−4.2 %y/y

Fiscal year 2024 · change from previous year

Development 2021–2024

-100-50050100m USD2021: 30 m USD2021: EBIT -13 m USD20212022: 50 m USD2022: EBIT -80 m USD20222023: 43 m USD2023: EBIT -78 m USD20232024: 30 m USD2024: EBIT -25 m USD202430-25
RevenueOperating profit (EBIT)

Business

Share of revenue
Secured Data Fabric45 %

Software that virtualizes, secures, and analyzes sensitive data across silos and borders.

Confidential Computing25 %

Infrastructure and software designed to process data securely while keeping it protected in use.

Cybersecurity Solutions20 %

Security products and services that protect sensitive systems, identities, and information flows.

Data Analytics and Intelligence10 %

AI-enabled tools that generate real-time intelligence from secured data environments.

Customers

HUB serves large enterprise and institutional customers that handle sensitive, regulated, or cross-border data. Its stated focus includes Fortune 100 companies, global banks, and sovereign institutions that need secure data infrastructure and compliance-oriented controls.

Large enterprises

Buy secured data fabric and cybersecurity tools for mission-critical data environments.

Global banks and financial institutions

Use the platform to protect regulated data and support compliant analytics.

Sovereign and public institutions

Adopt confidential computing and data security for sensitive state data.

Cross-border digital infrastructure operators

Need tools to move and analyze data securely across jurisdictions.

Strategy

HUB’s strategy centers on its secured data fabric platform, confidential-computing capabilities, and AI-driven data intelligence offering. The company also emphasizes governance, balance-sheet stabilization, and organizational simplification as part of protecting the platform and positioning the business for longer-term growth.

Platform commercializationMedium term

The SDF platform is the core commercial asset and differentiates the company in regulated data environments.

Customer focus in regulated industriesMedium term

Banks, enterprises, and sovereign institutions value security and compliance over generic IT features.

Operational simplificationShort term

A simpler structure can improve execution and reduce overhead while concentrating resources on the core business.

Governance and capital disciplineShort term

Stronger governance supports credibility with institutional customers, partners, and investors.

Geography

HUB describes its operations as spanning North America, Europe, and Israel, with its principal executive offices in Tel Aviv. Its business is inherently cross-border because its products are designed to secure and analyze sensitive data across jurisdictions and regulatory regimes.

Risks

HUB faces execution risk because its business depends on commercializing a specialized technology platform in highly regulated markets. Its exposure to cross-border data rules, competition from larger cybersecurity vendors, and the need to maintain governance and liquidity discipline can all affect adoption, customer confidence, and long-term viability.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Cross-border regulatory complexity1Execution risk on platform adoption2Customer trust and governance risk3Liquidity and going-concern sensitivity4Competitive pressure from larger vendors5
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Cross-border regulatory complexityImpact: HighLikelihood: Medium

    The platform processes and analyzes sensitive data across jurisdictions, which increases compliance burden.

    ExposureNorth AmericaEuropeIsrael
  2. Execution risk on platform adoptionImpact: HighLikelihood: Medium

    Commercial success depends on converting interest in specialized technology into repeatable revenue.

    Exposure: Enterprise and institutional sales

  3. Customer trust and governance riskImpact: HighLikelihood: Medium

    Institutional buyers may be sensitive to governance, reliability, and capital stability.

    ExposureBanksSovereign institutions
  4. Liquidity and going-concern sensitivityImpact: HighLikelihood: Medium

    Specialized technology companies can be vulnerable if commercialization lags and funding needs persist.

    Exposure: Corporate level

  5. Competitive pressure from larger vendorsImpact: MediumLikelihood: High

    Cybersecurity buyers have many alternatives from established enterprise software and security firms.

    Exposure: Confidential computing and data security

Accounting

Judgemental items
Revenue recognition

Customer contracts may include multiple deliverables, affecting timing and amount recognized.

Impact: Software, services, and support may be recognized differently under contract terms

Impairment of intangibles and goodwill

Specialized technology businesses often carry acquired or capitalized intangible assets.

Impact: Non-cash charges can materially change reported earnings

Fair value measurement

Strategic transactions and asset transfers can require valuation estimates.

Impact: Gains, losses, and carrying values may be sensitive to assumptions

Provisions and contingencies

Legal, restructuring, or transaction-related obligations can create accruals.

Impact: Can affect expenses and balance-sheet liabilities

Publicly listed companies with a comparable business focus.

Last updated: 28/09/2026