Solid margins and increased profit
I am proud to report that MSAB delivers one of the strongest quarters in terms of earnings in the company’s history. This is despite many complex challenges in the global market brought about by the ongoing pandemic.
The performance in this quarter has been preceded by good results in previous quarters this year. The three main reasons for this have been:
– We stick to our long-term strategy of being number 1 when it comes to extracting data
– We quickly adapted to the new reality of the pandemic
– We help our customers in their digitalisation journey
During the quarter, we delivered more workshops, webinars and released better solutions than ever before. With the latest version of XRY, we now support data extraction from more than 33,000 mobile devices.
MSAB always wants to be ahead of the development. To act rather than react. We have built up our business and our good reputation by seeing trends and adapting in a short time. We have been able to adapt quickly to the new conditions and find new ways to do business and reach customers. In this way, we have turned challenges into opportunities.
From the first day of the crisis, MSAB has not only been able to maintain but also increase our capacity in customer support and sales. This has enabled us to offer our customers outstanding value by 2020.
What has become apparent during this pandemic period is that law enforcement agencies and other government institutions have more limited opportunities to start new projects. The great needs and demand still remain, but it takes longer before decisions are made and projects are launched.
As long as the pandemic continues, the world will remain unpredictable and uncertain. Digital forensic companies have in some cases ended up in challenging situations and had to make important and strategic choices. At MSAB, we are proud of our values; values that we share with our customers. These values include vigorously supporting important law enforcement and public security efforts while guaranteeing integrity and legal certainty, even for a suspect.
MSAB has always been a value-driven company. In Hong Kong, during the third quarter, we became aware that our tools could be used in a way that was not in line with our values – and we took swift and decisive action to deal with the situation that arose – by winding down our operations in that region completely. .
Our main goal is still to ensure that our solutions ensure that law enforcement can keep pace with technological developments.
By meeting this goal, we are well aware that our technology can have a major impact in the markets in which we operate. For that reason, we choose to support the right organizations and do it the right way.
The pandemic’s consequences for public operations and our customer base are difficult to assess. But a continued increase in demand for our products will be necessary if society’s long-term ambition is to make law enforcement more efficient. MSAB will continue to be a world leader in digital forensics, not only by offering the best solutions, but because we have the most agile team and values that we are convinced will be crucial in the long term for success in this industry.
Stockholm, October 2020
Joel Bollö Chief Executive Officer