CSPi, an MSP and professional services provider, is growing its top-line revenues, improving its profitability, and pushing into the cybersecurity market. But the cyber effort -- which seeks to engage MSSPs -- has faced repeated delays.
The timeline looks like this:
- May 2018: CSPi describes ARIA, a new cybersecurity platform for MSSPs. At the time, CEO Victor Dellovo predicts a beta version in Q3 2018, with initial revenues in late 2018.
- August 2018: ARIA's beta testing slips to late Q4 2018, with first revenues expected in early 2019, Dellovo said during an earnings call in August 2018.
- February 2019: CSPi recently sent four ARIA offerings to customers for evaluation, according to an earnings statement today. The company plans to conduct testing and evaluations in Q2 and expects to see sales ramp up in the second half of fiscal 2019, CSPi added today.
We're checking in with the company for more details on the repeated delays, and will update this article when we have more information to share.
CSPi: Growing Revenues Elsewhere
Despite the delays, CSPi continues to grow its overall revenues. Indeed, revenues were $19.0 million in Q1 2019, up 14 percent from $16.6 million in the corresponding quarter last year. Net income in Q1 2019 was $50,000, compared with a net loss of $1.2 million for Q1 of 2018.