CISO Global, Inc.
CISO Technology Software Infrastructure
CISO Global, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $26.6 million, down 13.5% from fiscal 2024. In the quarter to June 2026, revenue fell 13.7%, EPS grew 55.6%, free cash flow grew 97.1% and total debt rose 44.3%, each against the same quarter a year earlier.
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CISO Global, Inc. (CISO) Beneish M-score
CISO Global, Inc.'s Beneish M-score for fiscal 2025 is −2.83; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −2.83 | 2.79 |
| FY2024 | −5.62 | 3.82 |
| FY2023 | −9.44 | (8.22) |
| FY2022 | −1.22 | 1.92 |
| FY2021 | −3.14 | (1.69) |
| FY2020 | −1.45 | 0.31 |
| FY2019 | −1.76 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.76 | — | 0.70 | |
| Gross margin index | 0.57 | — | 0.30 | |
| Asset quality index | 1.01 | — | 0.41 | |
| Sales growth index | 0.87 | — | 0.77 | |
| Depreciation index | 1.05 | — | 0.12 | |
| SG&A index | 0.94 | — | −0.16 | |
| Total accruals to total assets | 0.00 | — | −0.02 | |
| Leverage index | 0.33 | — | −0.11 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.83 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| DTSS Datasea Intelligent Technology Ltd. compare | −4.2× |
| HPAI Helport AI Limited compare | −3.3× |
| CISO CISO Global, Inc. | −2.8× |
| BLIN Bridgeline Digital, Inc. compare | −2.8× |
| AUID authID Inc. compare | −2.5× |
| ALAR Alarum Technologies Ltd. Sponsored ADR compare | −0.2× |
| APCX AppTech Payments Corp. compare | 0.4× |
| CYAB Cyabra, Inc. compare | — |
| FAASF DigiAsia Corp. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI