Opportunity Day

YE2022 |24 February 2023|

TABLE OF CONTENTS

Company Performance

Business Outlook

Q & A
Overall Revenue
TOTAL REVENUES (SALES AND SERVICES INCOME)
Unit : Million Baht

CAGR
+18.75%
894
823
YoY
634 8.56%

2020 2021 2022

 Recurring and
Non-recurring Revenue
INCREASING LEVEL OF RECURRING REVENUE

Recurring2

Non-Recurring
64% 67% 61%

Remark:
Recurring revenue include maintenance Service Agreements (MA)
39%
2

and technical supports provided by nForce. MAs are subscription 36% 33%
made with vendors for technical maintenance and software
updates of cybersecurity products typically signed for 1 year.
Most customers continuously extend MA contracts since the lack of
this could expose them to cyberattacks.
2020 2021 2022
Revenue
by CATEGORIES and INDUSTRIES

Revenue by Categories Revenue by Industries

Secure clients are large public and private organizations

7% 2%
Other
9% 5% PDPA 9% 14% 14% Other
Network Performance
& Monitoring 11% 14% 0.19% 12%
13% 11% 13%
Telecom and Internet
Service Providers
Endpoint Security 24% 20% Governmental
26% 22% Organizations

31%
77% 79% 27% 26% Enterprises1
Network Security 59%

28% 22% 25%

Banks, Financial Services
And Insurance

2020 2021 2022 2020 2021 2022

Remark: 1Enterprises are large companies in industrial / manufacturing sector
Gross Profit & Net Profit
Gross Profit (MB) Net Profit (MB)

Gross Profit Margin Net Profit Margin

180.0 25.0%

20%
19%
160.0

Gross Profit
20.0%

16%
140.0

120.0 YoY -6.9%

125 156 145
15.0%

Net Profit
100.0

YoY -9.9%
7%
80.0

10.0%

60.0
6%
4%
61
40.0

55
5.0%

24
20.0

- 0.0%

2020 2021 2022

 Financial Position
as at 31 December 2022

Unit : Million Baht

612
574
736 812
114
Total Assets 305
191 163 200
Total Liabilities Total Equity

2020 2021 2022

 Financial Ratio

Return on Assets (ROA) Return on Equity (ROE) Total Liabilities/Equity (D/E)

Unit: % Unit: % Unit: times (x)
25.0% 25.0%

22.9% 2.5

17.8%
20.0% 20.0% 2

1.7x

15.0% 15.0% 1.5

11.7%
9.3%
7.7%
10.0% 10.0% 1

7.1%

5.0% 5.0% 0.5

0.3x 0.3x

0.0% 0.0% 0

2020 2021 2022 2020 2021 2022 2020 2021 2022

 Software
43 MB | 25%

Sales
Backlog 170 MB Service
as of 31 January 2023
8 MB | 5%

Hardware
119 MB | 70%
Top Business Trends (2023 & 2024)

E-Com m e rce Growth

Pe rs is ts Pos t-Pa nde m ic
Top Business Trends (2023 & 2024)

5G Va s tly Im prove s
Da ta Colle ction And
AI Ca pa bilitie s
Top Business Trends (2023 & 2024)

Em ploye e s Active ly
Se e k Out Re m ote
And Hybrid Work
Top Business Trends (2023 & 2024)

Bus ine s s e s Expa nd Ads ,

Com m unitie s ,
And Com m e rce
On Socia l Me dia
Top Business Trends (2023 & 2024)
Businesses Experiment With Immersive Technologies

m ore tha n 50%

of cons um e rs a re willing
to us e AR/ VR
to a s s e s s products .
Pinterest introduces
AR Try On for Home Decor
For the ultimate Online
home shopping experience
 Top Business Trends (2023 & 2024)
Improved Customer Experience
And Cost-Savings Through AI

Average Percentage Change for

Each Category of Spend

7.6% Technology

Facilities -3.3%

Salesforce reports that the number of Training &

3.4% Development
customer service leaders using AI Travel &
Expenses -2.8%
has increased by 88% since 2020.
Currently, 45% of leaders say they’ve 3.1% Personnel
deployed AI solutions.
Gartner predicts that spending related to customer service
technology will Continue to increase throughout 2022.

Source: Gartner
Gartner for IT Leaders

Top Trends in
Cybersecurity 2022

By Peter Firstbrook, San Olyaei, Pete Shoard, Katell Thielemann,

Mary Ruddy, Felix Gaehtgens, Richard Addiscott, William Candrick
Top Trends in Cybersecurity, 2022
Responding to Rethinking Reframing
Threat Technology Practice

• Attack Surface Expansion • Vendor Consolidation • Distributing Decisions

• Identity Threat Detection • Cybersecurity Mesh • Beyond Awareness
and Response
• Digital Supply Chain Risk

Source: Gartner
760806_C
Gartner

Quick Answer: What Are the Top Use

Cases for Breach and Attack Simulation
Technology?
ARCHIVED Published 24 February 2021 – ID G00726662 – 5 min read

By Mitchell Schneider, John Collins, and 2 more

Breach and attack simulations technologies can address a variety of use

cases for security and risk management teams; however, buyers focus on a
few common use cases. SRM leaders should determine whether these
solutions will help their organizations improve their overall security postures.
 Market Guide:
Manage Security Services

Managed Threat
Detection and Intelligence
Response

SOC Threat
Services Detection
Services

Managed
Incident Security Managed MSS buyers must focus on the
Response Vulnerability
deliverable and outcomes rather than
the delivery mechanism, and they are
SaaS
Security Co-managed risk-driven rather than technology-
Services Security Services
Device driven in their requirement setting.
Management

Source: Gartner 2021

 Market Guide:
Manage Security Services

Managed Threat
Detection and Intelligence
Response

SOC Threat
Services Detection
Services

MSS is 60% process, 30% people and

Managed
Incident Security Managed 10% technology. Engaging an MSSP
Vulnerability
Response will require the right internal staffing
levels and additional processes to
SaaS
Security Co-managed account for the security operations
Services Services
Security and life cycle.
Device
Management

Source: Gartner 2021

Hype Cycle for Security Operations, 2022
Trend Micro, Palo Alto, Group-IB
Group-IB
Cymulate

BigID

Group-IB, Trendmicro, Palo Alto

ExtraHop

Group-IB

Palo Alto
ExtraHop, Arista

Source: Gartner
Q&A
ir@nforcesecure.com
nForce Secure Public Company Limited