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Senstar Technologies Corporation Reports First Quarter 2024 Financial Results

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OTTAWA, ON, June 13, 2024 /PRNewswire/ — Senstar Technologies Corporation (NASDAQ: SNT), a leading international provider of comprehensive physical, video and access control security products and solutions, today announced its financial results for the three months ended March 31, 2024. Management will hold an investors’ conference call later today (at 5 p.m. Eastern Time) to discuss the results.

First Quarter 2024 Business Summary:

(First quarter 2024 results for the three months ended March 31, 2024, compared to the comparable three-month period of 2023, except as mentioned. Results for the three months ended March 31, 2023 were for the Company’s predecessor, Senstar Technologies Ltd.)

Revenue of $7.5 million with gross margin of 59.6% versus revenue of $6.4 million with gross margin of 55.7%Net loss of ($0.7) million versus a net loss of ($1.9) million; positive EBITDA of $114,000 versus negative EBITDA of ($1.4) millionCash and short term bank deposits balance of $15.8 million and no debt as of March 31, 2024Completed redomiciliation process to Canada and appointed leadership to the seasoned Canadian executive team

Mr. Fabien Haubert, Chief Executive Officer of Senstar Technologies, stated, “We successfully completed the process of redomiciling to Canada in this first quarter, enabling us to streamline our corporate structure and empower our Canadian team to lead Senstar forward. We delivered strong first quarter results compared to the first quarter of last year, including revenue growth of 17%, higher gross margin, and positive EBITDA. Importantly, the growth was derived across most of our geographic regions and in our four key verticals. Recent leadership appointments, particularly in sales, and the actions we took to realign resources are having a clear and positive impact on our business. We intend to maintain our focus on continuous improvement across our key metrics for the remainder of 2024.”

Mr. Haubert continued, “Preparations for the launch of MultiSensor, our new AI-based intrusion detection system, are progressing according to schedule and we anticipate sales to begin in the fall of this year. The MultiSensor not only expands our addressable market but also provides us with a tremendous competitive advantage in asset protection. We are increasingly encouraged by the level of customer engagement and positive feedback we are receiving ahead of the launch.”

First Quarter 2024 Financial Results Summary

Revenue for the first quarter of 2024 was $7.5 million, an increase of 17% compared with $6.4 million in the first quarter of 2023. First quarter gross profit was $4.5 million, or 59.6% of revenue, compared with $3.6 million, or 55.7% of revenue, in the year ago quarter. The increase in gross margin was primarily due to a shift in product mix and price adjustments in the fourth quarter of 2023.

Operating expenses were $4.6 million, a decrease of 15% compared to the prior year’s first quarter operating expenses of $5.3 million. The decrease in operating expenses is primarily attributable to streamlining of the corporate structure and realignment of resources.

Operating loss for the first quarter of 2024 was ($73,000) compared to ($1.7) million in the year-ago period. The improvement is primarily attributable to increased revenue, higher gross margins and lower operating expenses both on a dollar basis and as a percentage of revenue.

Financial income was $54,000 compared to $40,000 in the first quarter last year.

Net loss in the first quarter of 2024 was ($0.7) million, or ($0.03) per share compared to ($1.9) million, or ($0.08) per share, in the first quarter of last year.

EBITDA for the first quarter of 2024 was $114,000 versus negative  EBITDA of ($1.4) million in the first quarter of 2023.

Cash and cash equivalents and short term bank deposits of $15.8 million, or $0.68 per share, as of March 31, 2024, compared with $14.9 million, or $0.64 per share, at December 31, 2023.  

Earnings Conference Call Information:

The Company will host a conference call later today, June 13, 2024. The call will begin promptly at 5 p.m. Eastern Time, 10 p.m. UK Time. The Company requests that participants dial in 10 minutes before the conference call commences and use the conference ID number 13747073.

Participant Dial-in Numbers:
Toll Free: 1-877-407-9716
Toll/International: 1-201-493-6779
UK Toll Free: 0 800 756 3429

The conference call will also be available via a live webcast at https://viavid.webcasts.com/starthere.jsp?ei=1675416&tp_key=db811a0661.

Replay Dial-in Numbers:
Toll Free: 1-844-512-2921
Toll/International: 1-412-317-6671
Replay Pin Number: 13747073

About Senstar Technologies Corporation

With innovative perimeter intrusion detection systems (including fence sensors, buried sensors, and above ground sensors), intelligent video-management, video analytics, and access control, Senstar offers a comprehensive suite of proven, integrated solutions that reduce complexity, improve performance, and unify support. For 40 years, Senstar has been safeguarding people, places, and property for organizations around the world, with a special focus on utilities, logistics, correction facilities and energy markets.

Cautionary Statement Regarding Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario), which we refer to collectively as forward-looking statements. These forward-looking statements are not limited to historical facts, but reflect Senstar’s current beliefs, expectations or intentions regarding future events. Words such as “may,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “seek,” “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” and similar expressions are intended to identify such forward-looking statements. Because forward-looking statements relate to matters that have not yet occurred, these statements are inherently subject to risks and uncertainties that could cause our actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including those risks discussed under the heading “Risk Factors” in Senstar’s most recent Annual Report on Form 20-F filed with the SEC and in other filings with the SEC. These forward-looking statements are made only as of the date hereof, and, except as required by applicable law or regulation, Senstar undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

For more information:                                                          
Senstar Technologies Corporation                                                          
Alicia Kelly,                                                                              
Chief Financial Officer     
Alicia.Kelly@senstar.com 

IR Contact:
Hayden IR
Kim Rogers, 
Managing Director
Kim@HaydenIR.com 
+1-541-904-5075    

 

— Tables follow –

 

SENSTAR TECHNOLOGIES CORPORATION

 UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

 (All numbers except EPS expressed in thousands of US$)

Three Months

Ended March 31,

2024

2023

% change

Revenue

7,511

6,445

17

Cost of revenue

3,032

2,852

6

Gross profit

4,479

3,593

25

Operating expenses:

   Research and development, net

982

1,040

(6)

   Selling and marketing

2,095

2,446

(14)

   General and administrative

1,475

1,840

(20)

Total operating expenses

4,552

5,326

(15)

Operating loss

(73)

(1,733)

Financial income, net

54

40

Income (loss) before income taxes

(19)

(1,693)

Taxes on income

727

182

Net loss attributable to Senstar’s shareholders

(746)

(1,875)

Basic and diluted net loss per share

($0.03)

($0.08)

Weighted average number of shares used in computing basic
and diluted net loss per share

23,309,987

23,309,987

 

 

SENSTAR TECHNOLOGIES CORPORATION

 UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(All numbers except EPS expressed in thousands of US$)

Three Months

Ended March 31,

2024

%

2023

%

Gross margin

59.6

55.7

Research and development, net as a % of revenues

13.1

16.1

Selling and marketing as a % of revenues

27.9

38.0

General and administrative as a % of revenues

19.6

28.5

Operating margin

Net margin

 

 

SENSTAR TECHNOLOGIES CORPORATION

 RECONCILIATION OF EBITDA TO NET INCOME (LOSS)

(All numbers expressed in thousands of US$)

 

Three Months

Ended March 31,

2024

2023

GAAP net loss

(746)

(1,875)

   Less:

   Financial income, net

54

40

   Taxes on income

727

182

   Depreciation and amortization                                               

(187)

(323)

EBITDA

114

(1,410)

 

 

SENSTAR TECHNOLOGIES CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All numbers expressed in thousands of US$)

March 31,

December 31,

2024

2023

CURRENT ASSETS:

Cash and cash equivalents

$15,718

$14,806

Short-term bank deposits

114

116

Restricted cash and deposits

5

6

Trade receivables, net

7,179

9,545

Unbilled accounts receivable

217

240

Other accounts receivable and prepaid expenses

2,785

2,448

Inventories

6,569

7,178

Total current assets

32,587

34,339

 

LONG TERM ASSETS:

Deferred tax assets

1,494

1,525

Operating lease right-of-use assets

729

842

Total long-term assets

2,223

2,367

PROPERTY AND EQUIPMENT, NET

1,528

1,589

INTANGIBLE ASSETS, NET

766

881

GOODWILL

10,864

11,090

TOTAL ASSETS

$47,968

$50,266

 

 

SENSTAR TECHNOLOGIES CORPORATION

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(All numbers expressed in thousands of US$)

March 31,

December 31,

2024

2023

CURRENT LIABILITIES:

Trade payables

$1,261

$1,650

Customer advances

182

187

Deferred revenues

2,680

2,878

Other accounts payable and accrued expenses

5,050

5,052

Short-term operating lease liabilities

258

297

Total current liabilities

9,431

10,064

LONG-TERM LIABILITIES:

Deferred revenues

1,273

1,415

Deferred tax liabilities

602

606

Accrued severance pay

292

296

Long-term operating lease liabilities

504

580

Other long-term liabilities

101

113

Total long-term liabilities

2,772

3,010

TOTAL SHAREHOLDERS’ EQUITY

35,765

37,192

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

$47,968

$50,266

 

Logo – https://mma.prnewswire.com/media/1713105/3503459/Senstar_Technologies_Logo.jpg

 

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SOURCE Senstar Technologies Corporation

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Global AI Leader and Enterprise Transformation Visionary Zeya Ottomone Appointed Chief Executive Officer of Integrow

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Author of Empowered to Execute in the Agentic Era to Lead Next Generation of AI-Powered Enterprise Innovation

ATLANTA, July 24, 2026 /PRNewswire-PRWeb/ — Integrow announced the appointment of Zeya Ottomone as Chief Executive Officer, marking a significant milestone in the company’s evolution as it accelerates its vision to become a global leader in Agentic AI-powered enterprise software and business transformation.

Integrow announced the appointment of Zeya Ottomone as Chief Executive Officer, marking a significant milestone in the company’s evolution as it accelerates its vision to become a global leader in Agentic AI-powered enterprise software and business transformation.

With more than three decades of executive leadership spanning Fortune 500 enterprises, global technology organizations, and enterprise software innovation, Ottomone joins Integrow at a defining moment in the evolution of artificial intelligence.

Widely recognized for helping organizations modernize operations, simplify complex business ecosystems, and deliver measurable transformation outcomes, Ottomone has led some of the industry’s largest enterprise modernization initiatives across ERP, CRM, workforce management, cloud computing, cybersecurity, artificial intelligence, and intelligent automation. His appointment signals Integrow’s commitment to redefining how enterprises execute strategy in the era of autonomous AI.

“Artificial Intelligence is no longer about automation alone, it’s about empowering organizations to execute faster, make smarter decisions, and fundamentally rethink how work gets done,” said Zeya Ottomone, Chief Executive Officer of Integrow. “We’re entering the Agentic Era, where intelligent AI agents become trusted digital teammates capable of planning, reasoning, collaborating and executing alongside people. At Integrow, we’re building the enterprise platform that makes that future practical, secure and measurable for every organization.”

Ottomone is internationally recognized as a leader in enterprise technology, SaaS transformation, digital modernization and AI-enabled business strategy. Throughout his career he has held executive leadership and C-level positions with ABB, Honeywell, AmerisourceBergen, Cable & Wireless, Chicago Tribune and Rimini Street, leading global organizations through large-scale transformation initiatives across North America, Europe, Asia-Pacific and the Middle East. His expertise spans enterprise applications, Salesforce ecosystems, ServiceNow, ERP modernization, customer experience, intelligent operations, data strategy, and the emerging field of Agentic AI.

Before joining Integrow, Ottomone led global SaaS Centers of Excellence focused on enterprise transformation, helping organizations modernize critical business operations while reducing technology complexity and accelerating innovation. A certified Lean Six Sigma Master Black Belt and recognized executive advisor, Ottomone has consistently delivered operational excellence by combining strategic leadership with emerging technologies to create sustainable business value.

His appointment also coincides with the upcoming publication of his new book, Empowered to Execute in the Agentic Era, which explores how organizations can bridge the gap between strategy and execution by leveraging AI, empowering people, and building intelligent enterprises capable of continuous innovation. The book reflects many of the same principles that will guide Integrow’s next phase of growth: human-centered AI, intelligent automation, operational excellence, and measurable business outcomes.

Under Ottomone’s leadership, Integrow will accelerate investment across:

Agentic AIEnterprise AI PlatformsIntelligent ERPAI-powered CRMHuman Capital ManagementIT Service ManagementPredictive AnalyticsAutonomous WorkflowsEnterprise CopilotsIndustry-specific AI Solutions

The company’s vision is to deliver a unified enterprise platform where AI is embedded into every business process, enabling organizations to eliminate operational silos, automate decision-making, increase productivity, and create competitive advantage through intelligent execution. “Zeya represents exactly the type of visionary leader required for the next generation of enterprise software,” said Harvey Nicholson, Chair of Corporate Governance and Member of Integrow’s Board of Directors. “His global experience, deep understanding of enterprise technology, and forward-looking vision for Agentic AI position Integrow to become one of the industry’s most innovative AI-powered enterprise software companies.”

Wayne Gadson, Chair of Growth Strategy, added: “The future belongs to organizations that can execute strategy with intelligence, speed and confidence. Zeya has spent his career helping enterprises achieve exactly that. His appointment marks the beginning of an exciting new chapter for Integrow, our customers and our partners worldwide.” As enterprises face mounting pressure to modernize operations, reduce costs, improve workforce productivity and harness the power of artificial intelligence, Integrow is uniquely positioned to help organizations transform through a single AI-powered enterprise platform that unifies finance, operations, customer engagement, workforce management, projects and service delivery.

“Our mission is simple,” Ottomone concluded. “We don’t believe AI should replace people. We believe AI should elevate people. The organizations that will define the next decade won’t simply adopt AI—they’ll empower every employee to execute better decisions every day. That’s the future Integrow is building.”

About Integrow

Integrow is a global enterprise software company delivering next-generation AI-powered business applications built on Salesforce. The platform unifies ERP, CRM, Human Capital Management, IT Service Management, Project Management, Field Service, Finance and Operations into a single intelligent ecosystem enhanced by Agentic AI.

By embedding artificial intelligence into every workflow, Integrow enables organizations to modernize operations, accelerate innovation, improve decision-making and execute strategy with confidence.

For more information, visit www.integrow.com.

Media Contact

Media Team, Integrow, Inc., 1 855-333-4769, info@integrow.com, www.integrow.com 

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SOURCE Integrow, Inc.

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Lufax Announces Board and Management Changes

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SHANGHAI, July 24, 2026 /PRNewswire/ — Lufax Holding Ltd (“Lufax” or the “Company”) (NYSE: LU and HKEX: 6623), a leading financial services enabler for small business owners in China, today announced changes to its board of directors and senior management, effective July 25, 2026.

Ms. Fangfang Cai (“Ms. Cai”), Mr. Shibang Guo (“Mr. Guo”) and Mr. Peifeng Li (“Mr. Li”) have resigned as non-executive directors of the Company and from their respective positions on the Board’s committees. Mr. Tongzhuan Xi (“Mr. Xi”) has resigned as an executive director, the chief financial officer and the authorised representative of the Company (“Authorised Representative”) under Rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (“Hong Kong Listing Rules”), with effect from July 25, 2026. Each of the four directors cited personal work arrangements as the reason for their resignation and confirmed there is no disagreement with the Board and no matter relating to their departure that needs to be brought to shareholders’ attention.

The Company has begun a search for a new chief financial officer. During the transition, the CFO’s duties will be temporarily assumed by the Company’s internal team to ensure continuity of the Company’s financial functions. Mr. Xiang Ji, an executive director and the Company’s chief executive officer, has been appointed as the Authorised Representative, the Company’s designated liaison with the Stock Exchange under the Hong Kong Listing Rules, in place of Mr. Xi, with effect from July 25, 2026.

The Board has appointed Mr. Wai Kin Chim (“Mr. Chim”) as an independent non-executive director for an initial three-year term commencing July 25, 2026.

Mr. Chim, aged 65, has over 40 years of experience in international banking and extensive board experience in Asia Pacific, having worked in Hong Kong, Singapore and Beijing. He specializes in risk management and internal control, with a strong emphasis on corporate governance, credit risk, market risk and capital management.

Mr. Chim served as a loan officer at Standard Chartered Bank, Hong Kong Branch, from October 1985 to August 1988. He was then employed by Bankers Trust Company, Hong Kong Branch, as a vice president of the Asia Credit Department from September 1988 to October 1996. He subsequently served as the managing director and the chief credit officer for Deutsche Bank AG, a company listed on the Frankfurt Stock Exchange under ticker symbol DBK, for Asia Pacific (non-Japan Asia), from October 1996 to November 2006. He joined Bank of China Limited, a company listed on the Main Board of the Stock Exchange under stock code 3988, as the chief credit officer from March 2007 to March 2015.

Mr. Chim was an independent non-executive director of Standard Chartered Bank (China) Limited from October 2015 to October 2017. He served as an independent non-executive director of HDR Global Trading Limited, owner and operator of the BitMEX digital asset trading platform, from February 2021 to February 2022. Mr. Chim served as a non-executive director of China Chengtong Hong Kong Company Limited from July 2022 to June 2025. Mr. Chim is currently an independent non-executive director of OCBC Bank (Hong Kong) Limited, since November 2017; an independent non-executive director of Banco OCBC (Macau), S.A., since August 2023; an independent non-executive director of China Intellogis Technology Co., Ltd., since June 2024; and a director of Hong Kong Dance Company Limited since June 2026.

Mr. Chim obtained a Bachelor of Science degree from the Chinese University of Hong Kong in 1983 and an MBA degree from Indiana State University, USA, in 1985. He also graduated from the Senior Executive Program at Columbia University in 2000.

In connection with these changes, with effect from July 25, 2026, Ms. Cai will step down from the Nomination and Remuneration Committee, and Mr. Koon Wing Ernest Ip has been appointed as a member to that committee. The Company’s Special Committee will comprise Mr. Dicky Peter Yip, Mr. Koon Wing Ernest Ip and Mr. Siu Hong Cheng, continuing under the chairmanship of Mr. Dicky Peter Yip, with effect from July 25, 2026.

The Board would like to take this opportunity to thank Ms. Cai, Mr. Guo, Mr. Li and Mr. Xi for their service during the tenure of their office and warmly welcome Mr. Chim to the Board.

About Lufax

Lufax is a leading financial services enabler for small business owners in China. The Company offers financing products designed principally to address the needs of small business owners. In doing so, the Company has established relationships with 85 financial institutions in China as funding partners, many of which have worked with the Company for over three years.

Investor Relations Contact

Lufax Holding Ltd
Email: Investor_Relations@lu.com

ICR, LLC
Robin Yang
Tel: +1 (646) 308-0546
Email: lufax.ir@icrinc.com

 

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SOURCE Lufax Holding Ltd

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UMD Smith School Researchers Warn AI Security Lapses Highlight Urgent Need for Independent Oversight

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COLLEGE PARK, Md., July 24, 2026 /PRNewswire/ — A series of recent AI security lapses—including the OpenAI–Hugging Face breach—raises a fundamental question, say a pair of researchers at the University of Maryland’s Robert H. Smith School of Business: Can tech companies safely govern the powerful AI systems they build, or is stronger outside oversight now essential?

In its incident report, OpenAI confirmed that one of its experimental AI agents exploited a weakness in its testing environment while working on a routine benchmark task. The system wasn’t instructed to behave maliciously; instead, its persistence turned a small design flaw into a real escape. Earlier tests showed similar behavior, including agents that learned to bypass security checks by manipulating authentication tokens.

This pattern echoes findings from Dean’s Professor of Information Systems Siva Viswanathan at the Smith School, who studies how large technology platforms enforce rules. His research on mobile app privacy—published in Management Science—examined Google’s rollout of Android 6.0, which gave users more control over what data apps could collect. Developers were granted a flexible window to update their apps. Many used that flexibility to delay compliance for months, continuing to gather user data until Google imposed consequences such as lower search rankings and reduced visibility in its app store.

Viswanathan’s takeaway: when companies rely on voluntary compliance, self‑interested actors often exploit the slack. Real accountability requires pairing flexibility with firm, enforceable penalties.

That lesson now reverberates across the AI sector. As companies race to build increasingly capable systems, Viswanathan says oversight must treat these AI systems as strategic actors and must include strong safeguards that can pause or reverse a system before harm occurs.

He notes that a separate study from Anthropic underscores the stakes. In controlled tests, even an AI system designed to monitor another AI inherited the same flaws it was supposed to catch. In some cases, the “judge” model failed to flag clear sabotage because it agreed with the agent’s goals, allowing dangerous behavior to pass without human review.

Balaji Padmanabhan, Dean’s Professor of Decisions, Operations and Information Technologies and director of the Smith School’s Center for Artificial Intelligence in Business, extends Viswanathan’s governance argument into the realm of autonomous AI agents, warning that the same structural weaknesses now carry far higher stakes.

“The fact that this breach occurred organically without the AI agent being asked to be malicious is itself notable. Imagine what someone who actually intends to do harm can do. It’s also not terribly reassuring that the same firms we depend on for AI infrastructure, who are facing these issues, are the ones assuring enterprises that their systems with guardrails are perfectly safe,” says Padmanabhan. “We have to wake up to the fact that we’ve created capabilities that let software become as powerful as we want it to be—and then some. It’s time we seriously ask what’s needed to create an infrastructure to play defense well.”

Across the independent studies, the pattern is consistent, says Viswanathan: Voluntary compliance fails when the governed actor is more capable than the regulator. And AI systems cannot be governed by trust or good intentions alone. Oversight must be preventive, independent and capable of stopping harmful behavior before it spreads.

About the University of Maryland’s Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized leader in management education and research. One of 12 colleges and schools at the University of Maryland, College Park, the Smith School offers undergraduate, full-time and flex MBA, executive MBA, online MBA, business master’s, PhD and executive education programs, as well as outreach services to the corporate community. The school offers its degree, custom and certification programs in learning locations in North America and Asia.

Contact: Greg Muraski, gmuraski@umd.edu

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SOURCE University of Maryland’s Robert H. Smith School of Business

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