From the Desk of Trishneet Arora, Founder & CEO, TAC Security
07 January 2026
Dear Shareholders,
As I write to you at the close of the year, I am not thinking about numbers first. I am thinking about people – the engineers, auditors, customer teams, and leaders who carried our standards into the real world every day.
I am thinking about the calls with customers who came to us anxious, and left reassured. I am thinking about the nights we stayed awake to ship improvements without breaking trust. And I am thinking about the moments we chose discipline over shortcuts – even when the shortcut looked tempting.
Cybersecurity is ultimately a promise. And a promise is only as strong as the habits behind it. In 2025, TAC Security did not just grow – we matured. We strengthened our governance, sharpened our execution, and deepened our purpose: to protect the digital backbone of the world with relentless integrity.
Thank you for backing a company that chooses long-term strength over short-term noise. Your trust is not capital. It is courage.
The Owner’s Mindset – Staying Day 1
I deeply respect the mindset of long-term owners – the builders who measure progress in decades, not quarters. At TAC Security, we operate with what I call a Day 1 mentality: stubborn on vision, flexible on details, and uncompromising on trust.
Day 1 means we never get comfortable. Day 2 is slow decline, then irrelevance – and in cybersecurity, irrelevance is not neutral; it is dangerous.
Here is what Day 1 looks like at TAC Security:
- Customer Trust First – Our customers are not buying a feature; they are buying peace of mind.
- High Standards Are a Gift – We will never normalize “good enough” in security.
- Long-Term Compounding – We choose decisions that compound brand, credibility, and capability even if they cost more today.
- Speed with Governance – We move fast, but never recklessly. The world rewards speed and punishes carelessness.
- Invention Is Non-Negotiable – Standing still in cybersecurity is moving backward.
H1 Performance for the Period Ended 30 September 2025 (H1 FY26)
For the first half ended 30 September 2025, we delivered growth with control – strengthening our subscription-led engine, improving efficiency through automation, and expanding our enterprise footprint across geographies.
During the period, TAC InfoSec reported record H1 FY26 results with revenue growth and PAT growth at scale – reinforcing the strength of our business model and the discipline of our execution.
To maintain accuracy and alignment with your published financial statements, the following are placeholders for the figures reported in your H1 results for the period ended 30 September 2025:
- TAC InfoSec reported record H1 FY26 results – revenue up 131%, PAT up 139% YoY
Beyond the numbers, what mattered most is this: we grew without compromising trust. That is the foundation on which durable shareholder value is built.
AGM Message – Discipline Over Hype
At our AGM, I shared a message that defines TAC Security: we will never sacrifice governance for growth. Trust is our product.
We are building a company that can endure cycles because it is built on fundamentals:
- Repeatable platform delivery, not one-off execution
- Quality systems that scale, not heroics that burn out teams
- Governance that earns institutional confidence
- A culture where standards are protected, not negotiated
Vision 2030 – Building a Global Cybersecurity Institution
Our Vision 2030 is bold, deliberate, and execution-driven. By 2030, TAC Security aims to become one of the world’s most trusted vulnerability and assurance platforms – serving enterprises at global scale while operating with governance that meets public-market standards.
- Scale the ESOF platform into a true trust operating system across AppSec, Socify, Cyberscan, IoXt, and People Security
- Expand global enterprise distribution while improving unit economics through automation
- Build multiple category-leading businesses inside the TAC Security ecosystem
- Operate with the discipline, transparency, and controls expected of global public companies
Cyberscope – Advancing a U.S. Public-Market Path
Cyberscope represents our commitment to institutionalize trust in Web3 security. During 2025, we advanced the U.S. IPO readiness journey – onboarding the right legal, audit, banking, and advisory ecosystem, and progressing toward an F-1-standard operating rhythm.
- Advanced F-1 readiness workstreams (business narrative, governance, controls, risk disclosures)
- Strengthened audit and reporting discipline aligned with U.S. public-market expectations
- Built cross-functional IPO execution cadence across finance, legal, operations, and leadership
- Deepened institutional storytelling: trust, compliance, defensibility, and scalable delivery
Milestones (Jan–Dec 2025) – Every Brick We Laid
- Cyberscope was acquired by TAC Security
- TAC Security surpassed the target of 3,000 clients and expanded reach across 100 countries
- TAC Security crossed 8,000+ clients as of December 2025
- TAC Security achieved a major milestone by serving over 1,000 global customers in Q1 FY26 and registered 100% YoY growth
- TAC InfoSec Limited recorded 160% revenue growth and profit surge of 135% in FY 2024–25
- TAC InfoSec reported record H1 FY26 results – revenue up 131%, PAT up 139%
- We secured a ₹2.29 crore service order from the Government of India for cybersecurity assessment services
- TAC InfoSec secured a ₹67 lakh service order from a Top 10 Indian financial institution for year-long cybersecurity assessment services, reinforcing leadership in the BFSI cybersecurity space
- TAC Security secured a major order from a leading Indian private sector bank for cybersecurity
- TAC Security received the CREST Penetration Testing License for the third year in a row
- TAC Security was certified again as a Great Workplace by Great Place to Work
- TAC Security officially achieved SOC 2 Type I Certification
- TAC InfoSec Limited expanded into Canada by incorporating a wholly-owned subsidiary: TAC Security, Inc. (Canada)
- CyberSandia, a TAC Security company, attended a special reception hosted by Governor Lujan Grisham, reinforcing commitment to New Mexico’s cyber innovation and defense
- TAC InfoSec’s Web3 security arm, CyberScope, filed a U.S. patent for an AI-optimized blockchain trust scoring platform
- TAC InfoSec Limited subsidiary CyberScope Web3 Security Inc. gained board nod for U.S. IPO filing
- TAC InfoSec initiated U.S. listing of subsidiary CyberScope
- TAC InfoSec Limited board approved a 1:1 bonus issue for its shareholders
- TAC InfoSec Limited – Shared Bold 2030 Vision at the 9th Annual General Meeting
- TAC InfoSec Limited to Invest $100 Million in the Cybersecurity and AI Innovation by 2030
How We Measure Ourselves
In the spirit of long-term owners, we do not manage the company for optics. We manage it for compounding. Here are the measures we care about because they predict durable value:
- Customer Trust: satisfaction, executive confidence, and reference-ability
- Quality: deliverable consistency, defensibility, and remediation actionability
- Recurring Revenue Strength: renewals, expansion, and predictability
- Velocity: cycle time from customer need to shipped improvement
- Unit Economics: automation-driven margin improvement and efficient scale
- Governance: controls maturity, audit readiness, and disciplined reporting
Closing
In our Vision 2030 plan, we promised to bring big brands into the TAC Security ecosystem – and we are executing that promise with focus and discipline.
We are all excited for the CyberScope IPO, not as a headline, but as an institution-building milestone: a step toward creating global, public-market-ready companies built on trust.
We will continue to build with intensity and humility – determined to win globally without losing our values.
Thank you for standing with us.
With respect and conviction,
Trishneet Arora
Founder & Chief Executive Officer
TAC Security
(NSE:TAC)
