NEC Appoints Todd Morris as President of NEC National Security Systems, Kathleen Kiernan Retires After 4 Years of Leadership

Todd Morris has been appointed president of NEC National Security Systems, succeeding Dr. Kathleen Kiernan. Morris brings over 30 years of experience in federal government contracting, with a focus on information technology, cybersecurity, and management consulting. Kiernan will retire as president on June 13, 2025, and continue to support NEC NSS as executive advisor.

Plurilock Security Inc. (PLCKF), a leading provider of AI-driven cybersecurity solutions, has reported robust financial performance for the first quarter of fiscal 2025. The company's total revenue for Q1 2025 reached $19.04 million, up from $12.84 million in the same period last year, marking a significant 40% increase [1].

Key highlights of the financial results include a 178% year-over-year growth in Critical Services revenue and a 28% increase in gross profit to $2.3 million. The revenue breakdown shows hardware/systems sales at $2.72 million, software/license/maintenance at $12.41 million, and professional services at $3.91 million. Gross margin for the quarter was 12.2%, down from 14.2% in Q1 2024 [1].

Plurilock also secured multiple high-profile contracts during the quarter, including a $800,000 services contract with a U.S. hospital and a CAD$1.4 million contract with the Canadian Federal Government. Additionally, the company completed an over-subscribed Special Warrant Offering raising $4.98 million and generated $1.86 million from warrant exercises. The cash position improved to $2.66 million, with an additional $7.8 million in unused credit facilities [1].

The company's strategic initiatives and market position were further bolstered by its partnership with Forcepoint, a global data security leader. This collaboration aims to expand cybersecurity capabilities in North America and has already yielded direct referrals and closed business [2].

In other news, Plurilock's CEO Ian L. Paterson will present at the Planet MicroCap Showcase: VEGAS 2025 on April 23, 2025, and attend the RSAC™ 2025 conference from April 28 to May 1, 2025, in San Francisco. These events will provide opportunities for business development and brand visibility [3].

References:
[1] https://www.stocktitan.net/news/PLCKF/
[2] https://www.stocktitan.net/news/PLCKF/
[3] https://www.stocktitan.net/news/PLCKF/