IronNet, Inc.
ironnet.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2023 10-Q, filed Jan 31, 2024. Its latest SEC filing is a 15-12G from Feb 22, 2024.
10-Q for Q2 FY2023, filed Jan 31, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Sells cybersecurity software that detects suspicious network activity and shares threat intelligence among organizations, plus incident-response and threat-hunting services for commercial and public-sector enterprises.
10-K for FY2023, filed May 16, 2023We have focused on the development and delivery of a suite of advanced cybersecurity capabilities for detection, alerting, situational…View ↗
IronDefense is an advanced Network Detection Response ("NDR") solution that uses AI-driven behavioral analytics to detect and prioritize…View ↗
Our Collective Defense platform is cloud-deployed and is scalable to include small-to-medium businesses and public-sector agencies as well…View ↗
How Did They Make Money?
Organizations pay for IronNet's cybersecurity software and managed detection services over a contracted period; professional services are paid for as the work is delivered.
10-K for FY2023, filed May 16, 2023Our Collective Defense platform is a subscription-based pricing and flexible delivery model, with 83.6% of our revenue for the fiscal year…View ↗
Revenue from subscriptions, which allow customers to use the Company's security software over a contracted period without taking possession…View ↗
The Company sells professional services, including cyber operations monitoring, security, training and tailored maturity assessments.…View ↗
$27.3M
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10-K for FY2023, filed May 16, 2023
$27.3M ↗
Who Were Their Customers?
Commercial and public-sector enterprises buy IronNet’s cybersecurity platform and professional services; the company sells its threat-intelligence feed primarily through partners.
10-K for FY2023, filed May 16, 2023We have focused on the development and delivery of a suite of advanced cybersecurity capabilities for detection, alerting, situational…View ↗
10-K for FY2023, filed May 16, 2023
Fiscal Year Ended January 31, 2023 2022 Customer A 10% 11% Customer B 12% 10% 22% 21%View ↗
Did Revenues Turn Into Profits?
No. It lost $111M in FY2023.
10-K for FY2023, filed May 16, 2023
−$107.7MView ↗
10-K for FY2023, filed May 16, 2023
−$111MView ↗
10-K for FY2023, filed May 16, 2023
−$65MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2023, filed Jan 31, 2024
−$6.8MView ↗
- ▼ −76% (Loss)
- vs −$28.4M in Q2 FY2022
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Jan 19, 2024
Bankruptcy court confirmed the reorganization plan
The plan would reduce debt, fund ongoing operations, and cancel existing equity when effective.
Sources
8-K, filed Jan 19, 2024
On January 18, 2024, the Bankruptcy Court entered the Findings of Fact, Conclusions of Law, and Order Confirming Debtors’ Second Amended…View ↗
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Oct 12, 2023
IronNet filed for Chapter 11 bankruptcy protection
IronNet and its subsidiary said they expected to continue operating during the court process.
Sources
8-K, filed Oct 12, 2023
On October 12, 2023 (the “Petition Date”), IronNet, Inc. (the “Company”) and its subsidiary, IronNet Cybersecurity, Inc. (collectively, the…View ↗
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Sep 29, 2023
IronNet stopped operations and terminated its remaining employees
Sources
8-K, filed Sep 29, 2023
On September 29, 2023, given the unavailability of additional sources of liquidity and after considering strategic alternatives, IronNet…View ↗
From business search to cybersecurity sales
The older report describes a company searching for a business to merge with, while the latest describes sales of cybersecurity software, a threat-intelligence feed, and professional services.
10-K for FY2020, filed Mar 4, 2021 10-K for FY2023, filed May 16, 2023We are a blank check company formed under the laws of the State of Delaware on April 30, 2019. We were formed for the purpose of entering…View ↗
We have focused on the development and delivery of a suite of advanced cybersecurity capabilities for detection, alerting, situational…View ↗
Who Did They Compete With?
Competes with DarkTrace, Vectra Networks, Cisco, Palo Alto Networks, ExtraHop, Arista Networks, and FireEye
10-K for FY2023, filed May 16, 2023first-generation NDR vendors such as DarkTrace or Vectra Networks, who offer point products based on Bayesian analysis, outlier analysis…View ↗
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