nubeva corporate overview
TRANSCRIPT
January 2021
CORPORATE OVERVIEWNUBEVA
©2021 Nubeva 2
DISCLAIMERTHIS PRESENTATION HAS BEEN PREPARED BY NUBEVA, INC. (“NUBEVA” ORTHE “COMPANY”)SOLELY AS AN INTRODUCTION TO THE COMPANY AND ITS TECHNOLOGY.
The Presentation may contain “forward looking information” within the meaning of applicable Canadian Securitieslegislation concerning, among other things, the size of the market for potential applications of the Company’s technologyand the timing of further technical development of the Company’s projects. There can be no assurance that the plans,intentions or expectations upon which these forward-looking statements and information are based will occur. “Forwardlooking statements” and “forward looking information” are subject to a variety of risks, uncertainties and assumptions,including those discussed in the in the Company’s public filings at www.sedar.com. We consider the assumptions on whichthese forward-looking statements are based to be reasonable, but caution the reader that these assumptions regardingfuture events, many of which are beyond our control, may ultimately prove to be incorrect since they are subject to risksand uncertainties that affect us. We disclaim any intention or obligation to update or revise any forward-lookingstatements, whether as a result of new information, future events or otherwise, except as required by securities regulation.
The information and materials in this Presentation are for informational purposes only and are not a solicitation or anoffering of securities.
Nubeva Develops and Licenses Software For Decryption of Network Traffic
Breakthrough, Patented IP
For Multi-Billion Industry of Network Inspection
Q2 2021, October 3 - month revenues $927K – profitable
Highly scalable business with significant revenue potential
Market cap: USD $26 million
Experienced management team with prior exits
QUICK FACTS
©2021 Nubeva
LEADERSHIPExperienced in early state to outcomes. Expertise In networking, security and cloud
Say Lim – Board Advisor
• SVP of IT, Fluor, Largest US Engineering Construction Firm)
Randy Chou – Co-founder, CEO
• Alteon (IPO, $7.8B)• Aruba (IPO, $3B)• Panzura (Private, $225M)
Greig Bannister – Co-founder, CTO
• Redback (IPO, $2.1B)• Aruba (IPO, $3B)• Panzura (Private, $225M)
Steve Perkins – CMO/CRO
• Aruba (IPO, $3B)• Optiv (Filed IPO/Sold, $1.9B)
David Wu – Board Member
• Chief Development Officer - Netskope• Former-CTO, Riverbed
Michael Perone – Board Advisor
• Founder/Board Member Barracuda Networks (NYSE:CUDA)
Eric Wolford – Board Advisor
• Partner, Accel Partners (Netskope investor)• Former-President Riverbed
Juliet Jones – CFO• WebTech Wireless (IPO TSX)
• LOOPShare Ltd (IPO TSX)
NUBEVA: SHORT STORY
TRADITIONAL DECRYPTION OPTIONS DON’T HAVE THE ANSWERWITH TLS EVOLUTION
A better, faster, and easier solution to the legacy options which have growing issues and gaps
Nubeva enables manufacturers and providers of cyber security and application monitoring solutions to better inspect encrypted traffic
The industry needed a decryption answer for the modern network
85%+ OF WEB TRAFFIC IS ENCRYPTED
Firewalls Web Gateways
Endpoint Security IPS - IDS
Application Monitoring
©2021 Nubeva
INDUSTRY REQUIREMENT : MONITOR AND INSPECT THEIR DATA
Monitor Network Traffic
• Private networks• Data Centers and Cloud Subscriptions• Out from Internet/Going to Internet• To/from their employees, devices & systems• To/from 3rd party systems and services
Cyber Security Detect and Respond
• Malware• Viruses• Ransomware• Cyber Terrorism
Application Assurance
• Performance • Diagnostics• Accounting• Troubleshooting• Forensics
NEED
FOR
©2021 Nubeva
Sally talked to JoeOn May 15 at 2amSpeaking LatinAnd 500 words were exchanged
Provides Summary VisibilityRelatively Cheap and Easy
Flow Based MonitoringSummarizes Connection Details
Sally sent orders.xls to JoeBudget.xls has credit card info in itJoe responded with project.xlsProjects.xls has a virus in it
Deep Packet Inspection (DPI)Looks at the Data Sent/Received
Provides Detailed VisibilityHarder, More Expensive, and Specialized
TWO FORMS OF NETWORK MONITORING
Both are used. Ideally one would do Deep Packet Inspection everywhereBut it is cost, complexity and functionally prohibitive
MODERN
ENCRYPTION
PROTOCOLS
Background: TLS (TRANSPORT LAYER
SECURITY) is core to security and privacy
providing application to application encryption
Challenge: Modern TLS Encryption
• Hides Cyber Threats
• Hides Application Details
Implication: Legacy decryption techniques for
DPI inspection have growing gaps including
extreme performance degradation to being
incapable of decryption
©2021 Nubeva
LEGACY DECRYPTION FOR DPI IS FAILINGLEGACY DECRYPTION IS FAILING
• The total percentage of encrypted web traffic is now around 85%, up from just 55% in 2017*
• 54% of network threats are found in encrypted traffic**
• Tools such as firewalls, IPS and DLP tools only work to their potential if traffic can be decrypted**
* Fortinet , Keeping Up With the Performance Demands of Encrypted Web Traffic** Gartner, Demystifying the Impact of TLS 1.3 on TLS Inspection*** Palo Alto, Troubleshoot Pinned Certificates**** NSS Labs NEXT GENERATION FIREWALL COMPARATIVE REPORT
• Perfect Forward Secrecy will break static key decryption technologies (passive decryption) that although supported in TLS 1.2 are mandatory in TLS 1.3**
• Although [pinned certificates] prevents malicious actors from intercepting and manipulating connections, it also prevents forward proxy decryption ***
• On average, according to NSS Labs, the performance loss for deep packet inspection after SSL [TLS] decryption is 67%.
LEGACY DECRYPTION IS FAILING
BREACH WINTER 2020
BREACH SUMMER 2019
No commercial system could detect the threat coming in the door in the first place
The upgrade channel utilized Pinned Certificates – unable to be decrypted
Standard systems could not detect employees export data to Amazon external storage
CapitalOne could not decrypt Amazon’s connections for inspection
More and more sophisticated cyber threats
Application and computing complexity and changes
New EncryptionProtocols
IOT5G
Mobile and Remote Workforce
GROWING CONCERN - ONLY GOING TO GET WORSE
©2021 Nubeva
MARKET IMPLICATIONS
SOLUTION PROVIDERS• Product functionality is increasingly
limited• Product/feature end of life for solutions
utilizing passive decryption• Market shrinking• Value shrinking• Competitive differentiation shrinking
END USERS• Reduced capability• Investment obsolescence• System and process rework
RESULTING− Higher risks− Higher costs and complexities− Low visibility and control
©2021 Nubeva
NUBEVA SESSION KEY INTERCEPT (SKI)A NEW COMMERCIALLY AVAILABLE OPTION TO DECRYPT MODERN NETWORK TRAFFIC
Nubeva SKI enables the ability to learn and extract the unique, session encryption keys from memory on each endpoint and send to inspection destinations to decrypt.
©2021 Nubeva
NUBEVA SESSION KEY INTERCEPTA NEW COMMERCIALLY AVALIABLE OPTION TO DECRYPT MODERN NETWORK TRAFFIC
Nubeva SKI is –
• An improved alternative to legacy decryption methods –Man-in-the-middle, proxy termination and passive RSA key regeneration
• Able to decrypt any session, regardless of architecture, direction, protocol or environment
• Decrypt at highest-speed using commodity HW acceleration already build into every chip and device
• Compatible across a broad variety of applications and use cases and is patent protected
• Software leaves everything intact – connections, data, servers, architectures etc.
• A trusted approach, but commercialized for enterprise use
©2021 Nubeva
HUNDREDS OF NETWORK INSPECTION SOLUTIONS
Target examples: Firewalls, IDS, IPS, SWGs, Proxys, APT, Forensics
NUBEVA’S PRIMARY TARGET MARKET Security and application monitoring solutions
that provide flow-based monitoring, deep packet inspection or both
Logos represents Nubeva’s recent customers and core prospects
©2021 Nubeva
NUBEVA SELLS TO SOLUTION PROVIDERSSKI is Gaining Traction: “Announce-ables”
• “Top10 $10B+ Cybersecurity Leader”− Being Built Into Inline Appliance, Host-Based System, Secure Web Gateway, Cloud Security
• Riverbed− Integrated Option with SteelHead AppResponse
• Garland Technology− Decryption Addition to Packet Broker and Taps Offering
• Empirix− Adding TLS 1.3 Decryption To Klarity: 4G/5G Packet Core (Service Mesh) App Monitoring and Assurance
• “A High Growth Leader In Network Detection and Response”− Provides TLS Decryption Option to Passive Inspection System for Network and Security Analytics
End User Proof- Microsoft
- UK Mi6-~20 other users of
Nubeva tech.
©2021 Nubeva
GO TO MARKET STRATEGY
PHASE 1: FLAGSHIP ACCOUNTS
PHASE 2: EXPAND
PHASE 3: GROWTH
Target manufactures, suppliers and platforms requiring advanced decrypt capabilitiesLand flagship accounts in core market segments to prove solution acceptance
Extend sales to rest of market Cyber Security, Application Performance and 5GLeverage previous wins as competitive threat to rest of marketProduct feature expansion
Upsell feature sets to existing customersExpand into Mobile Expand into IOT
WE ARE
HERE
©2021 Nubeva
BUSINESS MODEL
• Enterprise License
• Up front license commitment ongoing maintenance and support royalties
• Estimated margin 90%, highly scalable.
©2021 Nubeva
Income Statement Data Second quarter ended October Six months ended October
2021 2020 2021 2020
Revenue 927,702 38,511 967,315 77,667
Expenses 728,536 997,749 1,550,500 1,938,390
Operations 199,166 (959,238) (583,185) (1,860,723)
Other 94,959 11,660 295,432 41,912
Net income (loss) 294,125 (947,578) (287,753) (1,818,811)
Balance Sheet Data 31-Oct-20
Current and total assets 1,995,333
Current liabilities 755,252
Long-term debt 113,931
Accumulated deficit (13,247,703)
Total equity 1,126,150
©2021 Nubeva 18
Full financial statements and MD&A at www.sedar.com
FINANCIALS(USD)UNAUDITED
CAPITALIZATION
©2021 Nubeva 19
Cap Table (Jan 14, 2021) Shares USDCommon shares issued and outstanding 56,790,705 23,071,224Stock Options* 7,562,761 3,072,372Total Capital 64,353,466 26,143,596 * 41% owned by management**3,293,640 vested, weighted average price CAD $0.32
Recent News & Filings12/16/2020 08:39pm Aguila, BevCanna, Nubeva at 52-Week Highs on News - Baystreet 12/16/2020 12:00pm Nubeva Announces Q2 Fiscal 2021 Financial Results -GlobeNewswire
12/15/2020 08:56pm Iso, Nubeva, Victory at 52-Week Highs on News - Baystreet12/15/2020 12:00pm Nubeva Licenses Symmetric Key Intercept Solution to Global Network
Performance Monitoring and Diagnostics Software Provider -GlobeNewswire
12/03/2020 04:19pm Nubeva TLS Decryption Solution Licensed by Empirix -GlobeNewswire
11/18/2020 12:00pm Nubeva Releases Modern Next-Gen Decryption Library -GlobeNewswire09/30/2020 01:09pm Nubeva and Riverbed Improve Security with Added Visibility for
Encrypted Network Traffic - TheNewsWire
09/28/2020 12:09pm Nubeva Announces Q1 Fiscal 2021 Financial Results - TheNewsWire 08/20/2020 11:00am Nubeva Announces Fiscal 2020 Financial Results - TheNewsWire07/08/2020 11:00am Nubeva Signs License Agreement with Top Tier Cyber Security
Provider; Receives $1 Million Upfront Payment - Business Wire
Juliet JonesTel.: 844-538-4638
Additional information: www.nubeva.comwww.sedar.com
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