Kaspersky reports 2023 financial results with 11% business growth

In response to the non-market factors that affected the company’s business in 2022, Kaspersky revamped its operations and enhanced its resilience to geopolitical risks. As a result, Kaspersky was able to maintain steady and robust business results, returning to positive dynamics in B2C sales and further expanding B2B sales with the launch of new comprehensive security solutions.

The completion of Kaspersky’s new B2C portfolio global rollout marked 2023, enabling the company’s return to positive growth of B2C sales. Although the company’s global B2C sales overall dropped by 8% YOY in 2023, a quarterly analysis shows a strong upwards trend: the sales of the company’s consumer solutions jumped from -19% YOY in Q1 to +2% YOY in Q4. Remarkably, just one year after the introduction, the latest generation of our security solutions for home users has been awarded “Product of the Year” by AV-Comparatives for delivering outstanding results in 2023.

The company introduced a new solution for its B2C portfolio in 2023: SubsCrab – a mobile app that helps users track their subscriptions and control their payment schedules. The product is an internal development that was created by the Kaspersky business division responsible for developing and validating innovative new partnerships and products. The company’s B2C portfolio was also enhanced with a major update of Kaspersky Password Manager, which introduced new features like the creation of verification codes for two-factor authentication.

In 2023, Kaspersky’s B2B sales showed both endpoint (+17% YOY) and non-endpoint solutions (+44% YOY) growth, with both groups of solutions outperforming their 2022 growth rates. Within the endpoint group, EDR class solutions were in market focus, resulting in a remarkable growth of 52% YOY. In 2023, these solutions were recognized once again by independent security testing organization SE Labs, demonstrating absolute efficiency in APT protection during the Enterprise Advanced Security test. 

Kaspersky’s strategic corporate products continued delivering a strong performance. The solution for protection from the most sophisticated threats Kaspersky Anti Targeted Attack Platform demonstrated solid growth, with its sales having spiked by 67% YOY. Moreover, sales of the company’s next-generation SIEM Kaspersky Unified Monitoring and Analysis Platform — capable of detecting attacks with the use of previously unknown malware such as Operation Triangulation — rose by 146%. Kaspersky Threat Intelligence, with globally-sourced threat data trusted by organizations worldwide and international law enforcement agencies, showed a 42% growth.

The success of B2B sales was also facilitated by the launch of new solutions, including Kaspersky SD-WAN and Kaspersky Container Security. Milestone developments in the company’s B2B portfolio occurred in 2023 – namely the presentation of Kaspersky Next XDR Expert, the company’s open Extended Detection and Response (XDR) platform — which became available for early adopters.

The XDR capabilities have also enhanced Kaspersky Industrial CyberSecurity. Kaspersky was an early contributor to the creation of cybersecurity products for operational technology (OT), having invested in the development of protection solutions like these for more than 10 years. In 2023, amid an increasing number of attacks on OT infrastructure, the demand for reliable cybersecurity solutions among organizations in industrial sectors remained high, with Kaspersky Industrial CyberSecurity sales growing more than two-fold reaching 107% YOY.

Additionally, Kaspersky continued driving the sales of its innovative solutions: thus, the sales of products based on KasperskyOS***, an operating system with innate protection, grew by 76% YOY. In 2023, Kaspersky signed an agreement with the world’s leading thin client manufacturer Centerm to begin global deliveries of KasperskyOS-based thin clients worldwide.

In general, Kaspersky pushed the company’s sales in the enterprise segment by 30%YOY.

The overall strong business growth was accompanied by a slight 4 percent drop in the company’s global revenue YOY, which totaled USD 721 million. The result was prompted by unfavorable changes in FX rates.

Andrey Efremov, Chief Business Development Officer at Kaspersky, commented: “Overall, 2023 was a breakthrough year for us. Last year, we finalized the rollout of our reimagined B2C portfolio and embarked on strategic shifts of our corporate offering, adding new innovative solutions and bringing our cutting-edge XDR to the market. Our business is growing and this success is a testament to the power of effective strategy and teamwork that are driving our company forward. We’re continuing our commitment to technology excellence to meet and exceed our customers’ needs.”

While growing its sales and expanding its product portfolio, Kaspersky remained committed to technological advancement, submitting its products for independent comparative tests on a regular basis. In 2023, Kaspersky set a record by receiving 93 first places of the 100 independent tests and reviews the company participated in.

Besides the regular independent assessments that testify to the reliability of the company’s solutions, Kaspersky continued developing its Global Transparency Initiative, which enables the company’s partners and customers to check the source code of Kaspersky products and review its threat detection rules and AV builds. The initiative’s five-year anniversary was marked with new milestones: the opening of Kaspersky’s first Transparency Centers in the Middle Eastern and African regions, the expansion of the scope review offering to cover all the company’s on-premise solutions, and the renewal of the Service Organization Control for Service Organizations (SOC) 2 audit. To learn more about the company’s GTI and its latest developments, visit the website.

All growth rates are represented, eliminating foreign exchange rate changes.

* Hereinafter all segment and regional figures are in net sales bookings, not revenue; presented in fixed rates as of year 2023.

** Figures are rounded for easier reading. Revenue was US$721.115 million, and includes combined revenue earned by the Kaspersky companies from their IT business, e.g. sales of cybersecurity and IT products and related services.

*** These include Kaspersky IoT Secure Gateway (KISG), Kaspersky Thin Client, Kaspersky Automotive Secure Gateway (KASG), and other products

About Kaspersky

Kaspersky is a global cybersecurity and digital privacy company founded in 1997. With over a billion devices protected to date from emerging cyberthreats and targeted attacks, Kaspersky’s
deep threat intelligence and security expertise is constantly transforming into innovative solutions and services to protect businesses, critical infrastructure, governments and consumers around the globe. The company’s comprehensive security portfolio includes leading endpoint protection, specialized security products and services, as well as Cyber Immune solutions to fight sophisticated and evolving digital threats. We help over 220,000 corporate clients protect what matters most to them. Learn more at www.kaspersky.com.