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Ironnet, Inc. (IRNT) SEC Filing 10-K Annual Report for the fiscal year ending Monday, January 31, 2022

Ironnet, Inc.

CIK: 1777946 Ticker: IRNT

Exhibit 99.1

IronNet Reports Preliminary Fourth Quarter and Fiscal Year 2022 Financial Results

Achieves Record Revenue in the Fiscal Fourth Quarter

Annual Recurring Revenue Increases 23% Year-Over-Year; Adds 61 New Customers Year-Over-Year

McLean, VA (April 6, 2022) –

IronNet, Inc. (NYSE: IRNT) (“IronNet”), a leading provider of solutions Transforming Cybersecurity Through Collective DefenseSM, announced today its financial results for the fourth quarter and fiscal year ended January 31, 2022.

“Never before has the need for the exchange of real-time cyber threats across the public and private sectors been more critical than it is today,” said GEN (Ret.) Keith Alexander, Chairman and co-CEO of IronNet. “IronNet’s technology addresses the concerning gaps created by the status quo in cyber security, with nations, industries and companies still defending largely in isolation. Our Collective Defense platform goes beyond threat detection to enable security operations center analysts to ‘prove the positive’ by triaging alerts in an automated fashion to help better defend their data networks from cyber attacks.”

William Welch, co-CEO of IronNet, also commented: “I am proud of our team for executing well in the fourth quarter as we drive the business forward and seize the opportunity to transform the cybersecurity market. We are encouraged by the momentum of our cloud-based subscription business model as the market has a growing appreciation for the potency of IronNet’s platform solution. Our platform is enabling our customers to quickly multiply the capabilities and effectiveness of their own network security team while also protecting their operational privacy.”

Fourth Quarter and Fiscal Year 2022 Financial & Operating Highlights

 

   

Annual Recurring Revenue (ARR): $31.8 million at January 31, 2022 compared to $25.8 million at the end of the prior fiscal year and $27.5 million at the end of the prior quarter.

 

   

Revenue: Revenue for the fourth quarter was $8.2 million compared to $7.4 million in the same quarter last year. Cloud subscription revenue was $5.0 million, or 68% of product revenue.


The following information was filed by Ironnet, Inc. (IRNT) on Friday, April 8, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Ironnet, Inc.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Cover
Condensed Consolidated Statements Of Changes In Stockholders' Equity (Unaudited)
Condensed Consolidated Statements Of Changes In Stockholders' Equity (Unaudited) (Parenthetical)
Consolidated Balance Sheets
Consolidated Balance Sheets (Parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Loss
Consolidated Statements Of Operations
Accrued Expenses - Additional Information (Details)
Accrued Liabilities
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Schedule Of Future Minimum Lease Payments Required Under Operating Leases (Details)
Covid-19 - Cares Act. Provision
Covid-19 - Cares Act. Provision (Additional Information) (Details)
Earnings (Loss) Per Share
Earnings (Loss) Per Share (Additional Information) (Details)
Earnings (Loss) Per Share (Tables)
Earnings (Loss) Per Share - Schedule Of Antidilutive Securities Excluded From Computation Of Earnings Per Share (Details)
Earnings (Loss) Per Share - Schedule Of Computation Of Basic And Diluted Net Loss Per Share Attributable To Common Stockholders (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Schedule Of Components Of Provision For Income Taxes (Details)
Income Taxes - Schedule Of Deferred Tax Assets (Liabilities) (Details)
Income Taxes - Schedule Of Effective Income Tax Rate Reconciliation (Details)
Income Taxes - Summary Of Changes To Valuation And Qualifying (Details)
Organization And Nature Of Operations, Basis Of Presentation, And Summary Of Significant Accounting Policies
Organization And Nature Of Operations, Basis Of Presentation, And Summary Of Significant Accounting Policies (Details)
Organization And Nature Of Operations, Basis Of Presentation, And Summary Of Significant Accounting Policies (Policies)
Organization And Nature Of Operations, Basis Of Presentation, And Summary Of Significant Accounting Policies (Tables)
Organization And Nature Of Operations, Basis Of Presentation, And Summary Of Significant Accounting Policies - Additional Information (Details)
Prepaid Expenses And Other Current Assets
Prepaid Expenses And Other Current Assets - Additional Information (Details)
Prepaid Expenses And Other Current Assets - Schedule Of Prepaid Expenses And Other Current Assets (Details)
Property And Equipment
Property And Equipment (Tables)
Property And Equipment - Additional Information (Details)
Property And Equipment - Summary Of Property And Equipment (Details)
Quarterly Financial Data - Summary Of Quarterly Financial Data (Details)
Related Party Transactions
Related Party Transactions - Additional Information (Details)
Retirement Plans
Retirement Plans (Additional Information) (Details)
Revenue
Revenue (Tables)
Revenue - Schedule Of Customers That Represent 10% Or More Of The Company's Total Revenue (Details)
Revenue - Schedule Of Customers That Represent 10% Or More Of The Company's Total Revenue (Parenthetical) (Details)
Revenue - Schedule Of Deferred Costs (Details)
Revenue - Schedule Of Deferred Revenue (Details)
Revenues - Additional Information (Details)
Revenues - Schedule Of Company's Recognition Of Revenue (Details)
Reverse Recapitalization
Reverse Recapitalization (Tables)
Reverse Recapitalization - Additional Information (Details)
Reverse Recapitalization - Summary Of Common Stock Outstanding Following The Consummation Of The Business Combination (Details)
Reverse Recapitalization - Summary Of Reconcile Elements Of The Merger (Details)
Segment And Geographic Information
Segment And Geographic Information (Tables)
Segment And Geographic Information - Summary Of Revenue By Geographical Location (Details)
Stock Incentive Plan
Stock Incentive Plan (Tables)
Stock Incentive Plan - Additional Information (Details)
Stock Incentive Plan - Summary Of Status Of Outstanding Rsu's (Details)
Stock Incentive Plan - Summary Of Status Of Stock Options Under Stock Incentive Plan (Details)
Stockholders Equity
Stockholders Equity - Additional Information (Details)
Subsequent Events
Subsequent Events (Additional Information) (Details)
Ticker: IRNT
CIK: 1777946
Form Type: 10-K Annual Report
Accession Number: 0000950170-22-006874
Submitted to the SEC: Mon May 02 2022 4:17:26 PM EST
Accepted by the SEC: Mon May 02 2022
Period: Monday, January 31, 2022
Industry: Prepackaged Software

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