Leonovus posted a net loss of nearly $5 million in 2018 as it ramped up its spending on R&D and sales and marketing, the company announced this week.
Ottawa-based Leonovus says it’s been the victim of a “sophisticated bank fraud scam” and is looking into how badly the damages will affect its bottom line.
A major push in hiring and R&D over the course of 2018 have set Leonovus up to record revenues for the first time in years heading into 2019.
Leonovus continues to strike an optimistic tone on its numerous customer trials, but the software storage firm’s share price has dwindled this year on promises of revenue to come.
With dozens of potential customers lined up and a nearly-complete product offering, Ottawa’s Leonovus (
Local cloud-based security firm hosts live panel discussion at AGM