Jakarta. Indonesian cybersecurity company ITSEC Asia (IDX: CYBR) reported stronger revenue growth in the third quarter of 2026, while its operating losses narrowed as the company expanded its artificial intelligence and cybersecurity businesses.

ITSEC Asia recorded consolidated revenue of Rp 92.8 billion ($5.1 million) in the three months ended Sept. 30, up 39% from a year earlier.

Gross profit rose 57%, outpacing revenue growth, while the gross margin improved by 3.4 percentage points to 29.9%, the company said in a statement on Monday.

The company’s operating loss narrowed to Rp 15.7 billion from Rp 30.4 billion in the same quarter last year. Its pretax loss also fell by about half, while its net loss declined 53%.

For the first nine months of 2026, the company reported net profit of Rp 22.6 billion, up 96% from the same period last year. However, the result included a significant tax benefit from adjustments relating to previous periods, which the company said should be considered separately from its quarterly operating performance.

“Seeing revenue and gross profit grow at a faster pace this quarter is encouraging. We have been working to strengthen the fundamentals of our business and develop solutions that address the changing needs of our customers,” President Director Patrick Dannacher said.

“There is still work to do, but we believe the progress made this quarter puts us in a stronger position as we move into the final months of the year.”

ITSEC Asia's consolidated equity reached Rp304.1 billion as of Sept. 30, up 18.7% from Rp256.2 billion at the end of 2025.

Trade receivables fell 22.3% to Rp44.8 billion from Rp57.7 billion at the end of last year. Meanwhile, contract assets increased to Rp214.1 billion from Rp187.7 billion.

Contract assets represent work completed under customer agreements for which payment remains subject to billing milestones or other contractual conditions.

Expanding AI and Cybersecurity Business

Alongside its financial performance, ITSEC Asia is investing in artificial intelligence and cybersecurity products as businesses face growing digital security risks.

In July, the company launched Bronyx AI, an AI-assisted penetration testing platform designed to help organizations identify and assess security vulnerabilities.

It also established the ITSEC Cyber & AI Academy in March 2025 to develop skills in cybersecurity and artificial intelligence through training and industry-focused programs.

On Oct. 20, the company held its AICX 2026 event at the Bali Beach Convention in Sanur, Bali, bringing together business leaders, policymakers and technology stakeholders to discuss artificial intelligence, cybersecurity and digital resilience.

ITSEC Asia said it would focus on sustaining revenue growth, improving operational efficiency and expanding its technology platforms as it enters the final quarter of 2026.

Dannacher said demand for cybersecurity capabilities was expected to increase as businesses adopted AI and became more digitally connected, creating opportunities for the company to expand its market presence.

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