Mr. Steve Perkins reports

NUBEVA TECHNOLOGIES ANNOUNCES STRONG FISCAL YEAR 2023 FINANCIAL RESULTS

Nubeva Technologies Ltd. has released its fiscal year 2023 financial performance, highlighting key growth areas and financial management.

Select Highlights:

1. Revenue Growth:

Annual 2023: Revenue for 2023 reached a significant $2,071,654, marking a 779% increase from the 2022 revenue of $235,643. Q4 2023 vs. Q4 2022: Revenue in Q4 2023 was $934,963, up by 680% from $119,852 in Q4 2022.

2. Managed Expenses:

Annual 2023: Total expenses amounted to $4,029,546, a rise of 13% from $3,555,217 in 2022. After deducting a non-cash charge of $1,126,604 for share-based compensation, expenses for 2023 were $2,902,942, reflecting a 7% decrease when compared to the adjusted 2022 figure.

3. Gains/Loss Overview:

The total comprehensive loss for the three months ended April 30, 2023, was $137,215 compared to $721,782 in the three months ended April 30, 2022, representing a decrease of comprehensive loss of 584,567 or 81%.

4. Recurring and Subscription Revenue:

Annual 2023: A substantial 94% of the year's revenue came from annual, renewable subscriptions. This dramatic shift to subscription-based revenue is primarily attributed to the Ransomware Reversal software.

For complete filing: https://www.sedarplus.ca/ For more investor information: https://investors.nubeva.com/ Learn more about Nubeva's products and services: https://www.nubeva.com/

About Nubeva Technologies

Nubeva Technologies provides next-generation decryption solutions for faster, lower-cost recovery from ransomware attacks. Its mission is to reduce downtime costs and damages so businesses never pay ransoms again. Nubeva's ransomware reversal software is available to end-user enterprises, managed security service providers, incident responders, and cybersecurity solution manufacturers.

We seek Safe Harbor.