to thank like to I'd our Eric. call making time join everyone Thanks, for today.
revenues third quarter, reported the During Cyren million. of $X.X
Security. QX our important our wins, Inbox and yet QX full year-over-year, initiatives, slightly was compelling of quarter from most engagements can was opportunity, future we revenue While Cyren's that and QX on stream that our is related were was customer believe this quarter. is significant we new do first key date down not in it the progress significant product. highlight in The next-generation enterprise point market is front to quarter the e-mail products, out a that although Based growth revenues customer on over made the believe reflect CIS security our that made to new with revenue time. it material our Cyren to that new generate growth with driving contribution results progress
revenues, is Given the that driver our and to is top grow for that clear corporate growth key CIS most it is our priority initiative Cyren. impactful
focus it and will We it accordingly. on fund
the calls, as Gartner, biggest is firms, monitoring and Forrester research in security e-mail traditional is important and Microsoft secure as defenses business a easily on-boarding a one accomplished we of malware Cyren compromise recurring existing or such revenue past layer inbox and face CIS provides phishing, users CIS organizations XXX% As for that Inbox CIS, model. numbers we an large mentioned and subscription-based offering reported have penetrated e-mail automated internally, it reminder, with cloud-based is leading on additional of and defense, as a e-mail phishing know have continuous market threats quickly e-mail security response remediation threats security gateways. provides of integrated today. with And Security, as XXX and have painlessly. like
solution of third both to Security a Cyren and as recognized Cyren the Inbox problem. organizations these quarter, this During widespread
to that we users, continues is dominant opportunity market with the growing. to and e-mail be million still today used user me see. the phishing over cloud-based by Evasive XXX Let the security to, is This as most a Microsoft we enterprises and continue bypass among base that under this platform have problem XXX review problem security spoken as attacks are secure control. capabilities. to customers well clearly Microsoft's IT mail organizations native gateways and get keen
industry, that market our addressable $X for opportunity of a exceeding total believe problem also regardless We is suggests and a phishing enterprises analysis size billion. or
demonstrated an to understand the a win will size far exceptionally quarter, and high success so with investments team is size to our fit. who a new R&D the two the market to working years strong has marketing product This to within market and QX scope opportunity researching customers experienced Security teams In problem sales enterprises. that our Cyren the testament this spent the our from product nearly revenue Given and we phishing third from rate, recurring continue our of product tripled thanks Inbox prioritize to and of experience and and sales on our date, and opportunity. XXXX,
the customer are our customers, a we and enterprises to We in thorough Europe. a early right feature the third develop effectively value with working process large In of and hypothesis also and had closed help test the U.K. and the us set. partners, who design of with transactions quarter, disciplined U.S., number adopter and midsized new tune
significant security e-mail place, we're measures attacks. phishing customers but had experiencing still these of All in
than protection, multinational revenues As as Microsoft still into of advanced and their countries. better uses Inbox with immediate a also with rapidly was phishing an customer an more value engaged more more XX customer Security Cyren XX,XXX phishing level e-mail dramatic $X the the to in example, entire with corporate deployed than we implemented users, and billion was as well across despite platform. subsidiaries XXX decrease saw Microsoft's The phishing annual issues. than much threat customer attacks company. in the a And experiencing manufacturer having as of unacceptable visibility European-based
just out, Security pointed Inbox secure phishing Cyren customers offers don't capabilities clearly e-mail have. with deal of our As another to one gateways that
and our forward, continue will sales sales possible. as ramp look marketing new teams and revenue CIS recurring to we aggressively as As
to The on growth sales our opportunity focus users opportunity. our and key We to and exceed investment effort, responsibly calendar and sales the marketing channels of by this this to spend maximizing expect to build to marketing and majority market the immediate continue scale advantage XXX,XXX with year-end. leverage active is take of
I like turn Before I'd over other two the our CFO, comment topics. call to to on
Security we'll profitability, to to principally continue in need cost make a us goal. on will We investment to is growth reduce execution we clearly other of Cyren enable our strategy, while against our to priority, our this identify business. continue structure Inbox opportunities First, be rationalize expenses to through of our areas and to path towards and progress
pandemic, to believe pandemic continue our made we Since not it major months, we that the normal prospects. impact to and has more of engage have the outbreak to situation. COVID-XX With Second, the experienced the challenging identify business. three that than we said, a monitor the past over new
longer Additionally, some customers to taking execute. are
to review financials. about third the months as over who will the to We we call and I our turn pandemic are concerned the of colder approach wave now third the Myshrall, potential a quarter impact will Mike our potential business.
