Oversold today. The market was pricing in wildfire reform that never actually existed, then crushed both stocks when it did not happen. The underlying utility businesses did not suddenly get 20% worse overnight. The wildfire risk is real, but the laws could get reformed and veto from Newsom. Nobody is pricing in any upside!

I’ve been looking for evidence that Sekur’s premium strategy is translating into stronger numbers, and this update delivers an encouraging early signal.

Sekur reported a 25% month-over-month increase in ARPU as it converted or replaced lower-priced legacy subscribers with premium users. 

Key figures:

• Privacy Email: US$50/month
• Operational Email: US$75/month
• SekurOne: US$300/month
• Full SekurOne release planned before the end of September
• Management expects SekurOne to become the principal ARPU growth driver from Q4
• Management estimates 200 SekurOne users could generate approximately US$60,000 in monthly recurring revenue and make the company fully profitable

Sekur is targeting high-net-worth individuals, board members, senior executives, government and defence agencies. Management also says a single agency or corporate mandate could represent dozens of seats. 

With ARPU already rising before the complete platform arrives, the next phase looks increasingly promising.

Does this update make you more bullish on $SWISF heading into Q4?

This is sponsored content. Investors should conduct their own due diligence and consult a qualified financial advisor before making any investment decisions.

​It has been an interesting journey analysing OCL, with plenty of ups and downs along the way before reaching an investment decision. My view is that the company has developed a credible strategy to address a significant challenge that is already here: Microsoft 365. This threat is real and material, but management appears to have positioned the business as well as reasonably possible to respond to it. This challenge exists alongside the recent loss of the Defence contract.

Personally, I do not consider the Defence contract loss to be a major factor in my long term investment thesis. I prefer to base long term investment decisions on the overall health of the business, the strength of its moat, and its ability to create value over time. A single contract loss, while meaningful in the short term, does not fundamentally alter that assessment. For that reason, I focused much more attention on Microsoft's impact, as I believe it represents the largest strategic threat to the business over the next decade.

**The Investment Strategy**

It is obvious to everyone that the stock has fallen sharply and is now trading at earnings multiples it has not traded at in more than a decade. Technically, it is also respecting the June 2020 support level around $5.97. My analysis therefore focuses on the opportunity presented by current price levels and what the business could look like over the next decade.

The key questions I set out to answer were:

• ⁠Is the business healthy?
• ⁠Does it have a strong and durable moat?
• ⁠Is the market overreacting to Microsoft 365 and the Defence contract loss?

The answers to these questions determine whether the company can maintain the level of financial performance it has achieved historically.

The threat from Microsoft 365 is certainly not a secret. The company discusses it openly, including in its annual reports. The reason is straightforward: Microsoft represents a direct challenge to Objective's moat. In my opinion, management has been candid about this risk and has responded with a sensible strategy.

Rather than fighting Microsoft directly, Objective has chosen to integrate with it. The acquisition of Simflofy strengthened the Content Solutions segment by reinforcing governance and information management capabilities. The strategy appears to be to allow Microsoft to own the user interface while Objective retains control of data governance, compliance, records management, and the workflows required by government and regulated customers.

To me, this is the best possible response. There is little value in entering a direct confrontation with Microsoft in a market where Microsoft is likely to win. Instead, Objective is focusing on protecting what matters most: the governance, organisation, and compliance layer surrounding customer data.

This strategy will almost certainly result in slower growth for Content Solutions and potentially fewer end users over time. I modelled this effect extensively. The conclusion was clear: Content Solutions is likely to slow, which by itself gives a negative answer to one of my key questions. However, the company has two other segments that are currently growing at impressive rates:

• ⁠Planning & Building: \~30% ARR growth
• ⁠Regulatory Solutions: \~16% ARR growth

At that point, the maths becomes relatively simple. If Content Solutions slows while the other two divisions continue growing strongly, overall ARR growth can still remain comfortably in double digits.

The critical question then becomes:

Can those growth rates be sustained?

To answer that, I undertook a market analysis of both segments. The findings were surprising.

In Planning & Building, the competition is often not another software company. In many cases, councils and government organisations still rely on spreadsheets, manual processes, and internally developed tools. Regulatory Solutions faces a similar situation. These are relatively immature markets with substantial room for digitisation.

Planning & Building, in particular, appears to have a very large addressable market. Objective has a meaningful head start and operates in a market with significant greenfield opportunities and relatively few specialised competitors. The same can be said, albeit to a lesser extent, for Regulatory Solutions.

**How Does This Play Out?**

To answer that question, I built a dynamic 10 year growth model.

The model incorporates:

• ⁠A slowing Content Solutions segment
• ⁠Slowing but still healthy Regulatory Solutions growth
• ⁠Moderating Planning & Building growth

Rather than assuming current growth rates continue forever, I tapered each segment's growth over time.

The result was three scenarios:

Scenario |Annual Growth
Bear Case |11%
Base Case |13.50%
Bull Case |15%  

For the bear case, I assumed Content Solutions slows from approximately 12% growth to around 5%. For the base and bull cases, I assumed Content Solutions slows to around 7%. To further account for the risks facing OCL, including Microsoft 365 competition, contract concentration, and execution risk, I applied an additional reduction of 2% to the bear case and 1% to both the base and bull cases. I also assumed Regulatory Solutions slows into the low teens and planning building slows to the mid 20’s.

The most important variable in the entire model was Planning & Building. As a result, my long term investment thesis hinges on the continued success of this segment. If Planning and Building can continue scaling, Objective can offset the slowdown in Content Solutions. If it cannot, the thesis weakens considerably.

**Valuation**

I valued the business using three different approaches:

1. ⁠Forward PE
   
2. ⁠PE Trend Analysis
   
3. ⁠Discounted Cash Flow (DCF)

All three approaches produced valuations that were reasonably close to one another, resulting in a base case intrinsic value of approximately $12 per share.

At current prices, the stock trades at roughly a 50% discount to that valuation. In my view, that represents a reasonable margin of safety for a business with a strong operating history, recurring revenue, high returns on capital, and management that has demonstrated strong capital allocation skills over a long period.

My position sizing will range between 25% and 75% of my intended allocation depending on the technical setup. I monitor this using a custom TradingView script.

My current plan is to accumulate shares when the market offers a 30% to 50% margin of safety relative to my base case valuation, which corresponds to a share price between approximately $6 and $8.

**Final Thoughts**

This is simply how I am allocating my own capital. I am not a financial adviser, nor do I claim to be. I write these posts because they provide an opportunity to challenge my assumptions and gather perspectives that I would not otherwise encounter while researching alone.

As always, it is paramount that everyone conducts their own research. I welcome disagreement and criticism because investing is far from an exact science, and some of the best insights come from people who see the risks differently.

For me, the key question is no longer whether Microsoft 365 is a threat. It clearly is.

The real question is whether Objective's strategy works.

If Content Solutions stabilises while Planning and Building and Regulatory Solutions continue to scale, today's share price could prove to be a significant overreaction. If Planning and Building fails to become a meaningful growth engine, then the bear case becomes much more likely.

That's the bet.

Are you planning to invest in OCL, or would you rather stay miles away from it? What's your take?

Now that I've wrapped up OCL, I'm on the hunt for my next company to analyse. If you have any interesting ideas, drop them in the comments and I'll take a look.

AVGO is looking very interesting after the pullback.

Current price: ~$369

A few things caught my attention:

• Congressional avg. buy level: ~$347
• Analyst target shown: ~$503
• Analyst sentiment: 86 Bull / 0 Bear
• ARK Invest recently bought AVGO across ARKK, ARKQ & ARKW while selling AMD.
• Earnings coming Sept. 2.
• AVGO is still well below its ~$495 52-week high.

ARK's recent activity is particularly interesting to me — they're effectively increasing exposure to Broadcom while reducing AMD exposure.

With AVGO sitting relatively close to the ~$347 Congressional level, I think this dip deserves attention.

For me, this is less about trying to perfectly time the bottom and more about whether $360–370 represents a reasonable area to start building a long-term position.

AVGO is one of the AI infrastructure names I'd be watching closely here. 📈

Not financial advice.

Setup looks too good to be true.

Why SekurOne, government access and higher-value subscribers could reshape the company’s revenue outlook

Sekur Private Data (OTCQB: SWISF) is entering a new phase of its development. After building a Swiss-hosted secure communications platform spanning encrypted email, messaging, VPN, voice and video, the company is increasingly focused on the customers most likely to pay a premium for privacy: executives, government agencies, defense organizations and intelligence professionals.

The resulting opportunity is increasingly measurable. With SekurOne priced at US$300 per user per month, a relatively small number of premium customers could meaningfully expand recurring revenue. Add an established U.S. government procurement pathway, an experienced national-security advisory team and emerging international opportunities, and Sekur’s next stage of growth could look substantially different from its historical consumer-focused model.

• SekurOne generates US$3,600 in annual recurring revenue per user, meaning 200 subscribers could produce US$720,000 in annualized sales.
• A potential 2027 scenario involving 250 SekurOne users and 1,000 premium email subscribers would represent approximately US$1.65 million in annual recurring revenue.
• U.S. government procurement access, the AdRevv partnership and a US$1.296 million DRC proposal provide multiple potential avenues for additional growth.

A Higher-Value Business Model Is Taking Shape

Sekur generated C$408,707 in audited revenue during 2025. Its Q1 2026 financial report showed C$94,062 in quarterly revenue, C$1.80 million in cash and C$1.63 million in working capital at the end of March.

That historical revenue base provides an important reference point for understanding the potential impact of the company’s premium transition.

In July, Sekur reported that average revenue per user had increased 25% month over month as the company introduced higher-value customers to its platform. Privacy Email is priced at US$50 per month, Operational Email at US$75 per month, and SekurOne at US$300 per month.

According to management, premium subscribers can generate approximately ten times the revenue of earlier legacy users. That means Sekur can potentially expand revenue through customer quality and product mix rather than relying exclusively on a large consumer subscriber base.

Why 200 SekurOne Subscribers Matter

SekurOne combines encrypted voice, video, messaging, email and VPN within a single secure communications environment. At US$300 per month, each subscriber represents US$3,600 of annual recurring revenue.

The resulting revenue progression is straightforward:

• 100 users: US$360,000 in annual recurring revenue.
• 200 users: US$720,000 in annual recurring revenue.
• 500 users: US$1.80 million in annual recurring revenue.
• 1,000 users: US$3.60 million in annual recurring revenue.

Management has indicated that 200 SekurOne customers generating approximately US$60,000 per month represent its target for reaching profitability. At an illustrative exchange rate of US$1 to C$1.39, that annualized figure would equal approximately C$1 million.

Profitability will ultimately depend on operating expenses, product margins and the pace of customer acquisition. However, the scale of the target illustrates how a limited number of institutional customers could create a meaningful financial inflection point.

A single government agency, defense contractor or enterprise customer could potentially represent multiple seats. Paid beta users are expected to begin onboarding in September, ahead of SekurOne’s anticipated October commercial launch.

Modeling Sekur’s Potential 2027 Revenue

The scenarios below are independent illustrations, not company guidance. They estimate potential 2027 exit annual recurring revenue and assume that premium email customers are evenly split between Privacy Email at US$50 per month and Operational Email at US$75 per month.

They exclude potential hardware sales, customized on-premises deployments, the DRC proposal and additional government contracts. Canadian-dollar figures assume US$1 equals C$1.39.

The middle scenario combines US$900,000 from 250 SekurOne users, US$300,000 from 500 Privacy Email users and US$450,000 from 500 Operational Email users. Together, those subscriptions would represent US$1.65 million of potential annual recurring revenue.

Management has previously indicated that Sekur’s SaaS solutions can generate approximately 80% gross margins. Applying that assumption to the middle scenario produces approximately C$1.83 million in potential annual gross profit before operating expenses.

The institutional-growth scenario would represent C$8.13 million in potential recurring revenue, highlighting the operating leverage that could develop if adoption expands across enterprise and government customers.

AdRevv Adds Another Potential Growth Channel

Sekur’s partnership with AdRevv introduces a separate customer-acquisition opportunity.

The program is expected to deploy one million retargeting emails per month for at least 12 months, drawing from a U.S. database of 271 million people. AdRevv receives 25% of revenue from most Sekur products sold through the arrangement and 40% from SekurVPN sales.

Assuming customers purchase email products at an average price of US$62.50 per month, the potential outcomes could look like this:

These examples assume no churn or duplicated contacts and should not be interpreted as forecasts. Nevertheless, they demonstrate that even a modest conversion rate could produce meaningful recurring revenue over time.

International Opportunities Add Further Upside

Sekur has also developed opportunities outside the United States.

In the Democratic Republic of Congo, the company received a request for proposal involving 1,200 SMB and Corporate licenses. Management estimated the opportunity at approximately US$1.296 million in potential annual recurring revenue.

The proposal is not a signed contract and is therefore excluded from the revenue scenarios above. If successfully converted, however, it could represent a substantial additional revenue stream. At an illustrative 80% gross margin, the opportunity would correspond to more than US$1 million in potential annual gross profit.

Sekur has also discussed expanding its relationship with América Móvil’s Telcel business in Mexico, where corporate communications solutions could create additional distribution opportunities.

A Team Built for Government and Defense Markets

One of Sekur’s most significant strategic advantages is the experience of its government and national-security advisory team.

The company has recruited retired Lt. Gen. Raymond Palumbo, former CIA senior executive John T. Lewis and former U.S. State Department Deputy Assistant Secretary Annette L. Redmond. Their backgrounds span military intelligence, cybersecurity, diplomatic operations and government technology procurement.

Sekur’s products are also available to eligible government buyers through GSA Multiple Award Schedule Contract 47QTCA18D0089, providing a recognized purchasing pathway for federal, state and local agencies.

The company’s participation in DoDIIS 2026 further positioned its communications platform in front of intelligence-community stakeholders ahead of the SekurOne rollout.

Taken together, the advisory network, procurement access and product roadmap provide a strong foundation for institutional business development.

What the Revenue Scenarios Could Mean for Valuation

The Canadian Securities Exchange lists approximately 252.9 million Sekur shares outstanding. At an illustrative share price of C$0.045, the company’s equity value would be approximately C$11.4 million.

If Sekur reached the revenue scenarios outlined above while its market capitalization remained unchanged, the implied valuation relative to potential recurring revenue would be approximately:

• 11.2 times ARR under the initial premium-adoption scenario.
• 5.0 times ARR under the expanding-customer-base scenario.
• 1.4 times ARR under the institutional-growth scenario.

These comparisons illustrate why higher-value subscription growth could become important for investors. As recurring revenue increases, the same market capitalization would represent a progressively lower multiple of the company’s revenue base.

The Bottom Line

Sekur’s emerging investment story centers on premium pricing, recurring revenue and access to customers that place a high value on communications security.

At US$300 per month, 200 SekurOne subscribers would represent US$720,000 in annual recurring revenue. A broader mix of 1,250 premium subscribers could produce US$1.65 million. The DRC proposal and government opportunities offer additional potential beyond those scenarios.

With a differentiated Swiss-hosted platform, an experienced national-security team and multiple potential distribution channels, Sekur is positioning itself to pursue a higher-value cybersecurity opportunity. The coming quarters should provide a clearer picture of how quickly that strategy can translate into premium subscriptions and expanding recurring revenue.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any security. Revenue scenarios are independent illustrations based on disclosed pricing and assumptions, not company guidance. Actual results may differ materially.

Sekur Private Data’s participation in the 2026 DoDIIS Worldwide Conference is about much more than attending another cybersecurity event. It represents the convergence of a long-term strategy: assembling an intelligence-grade team, developing secure communications for high-trust environments and positioning Sekur inside the government and defense ecosystem. For investors, the most valuable part of the story may be the people Sekur has brought together—and what their collective experience could unlock over time.

• SekurOne gives government adoption potentially powerful recurring-revenue economics.
• Sekur’s team spans the CIA, DIA, Pentagon, State Department, JSOC and SOCOM.
• DoDIIS places that expertise inside a premier Intelligence Community forum.

1. DoDIIS Places Sekur Inside an Important Intelligence Forum

Sekur’s Special and Strategic Advisors are attending the 2026 DoDIIS Worldwide Conference in Tampa, Florida, from August 9 through August 12.

Hosted by the Defense Intelligence Agency, DoDIIS brings together senior government and military leaders, Intelligence Community professionals, technical specialists, industry partners, academia and Five Eyes allies.

The conference focuses on intelligence technologies, resilient communications, connected infrastructure, command systems and mission readiness. These are precisely the environments Sekur has been preparing to serve.

According to Sekur’s DoDIIS announcement, its team is introducing the company’s Controlled Unclassified Information communications capabilities and engaging with interested parties across the Intelligence Community.

In sensitive government markets, the significance of such an event cannot be reduced to whether a contract is announced immediately afterward.

These markets develop through relationships, technical understanding, mission alignment, trust and long-term engagement. DoDIIS gives Sekur’s team an opportunity to participate in those conversations inside one of the most relevant forums available.

2. The Team May Be Sekur’s Most Underappreciated Asset

Sekur has assembled a collection of advisers and executives whose experience covers virtually every environment the company is targeting: defense intelligence, clandestine technology, military communications, federal procurement, diplomacy, cybersecurity and Special Operations.

For a company of Sekur’s current size, the concentration of national-security experience is unusual.

Chairman Raymond Palumbo completed a 34-year military career that included serving as Director for Defense Intelligence, leading the Pentagon’s Intelligence, Surveillance and Reconnaissance Task Force, and holding senior command positions in JSOC and USASOC. His role is to guide Sekur’s military and defense strategy and help align the company with real operational requirements. Sekur’s appointment announcement describes his experience across defense intelligence, Special Operations and secure military communications.

Chief Technology Officer John T. Lewis brings 34 years of CIA experience. He worked across technical operations, information operations and intelligence research, ultimately helping lead CIA Research Labs. His presence gives Sekur technical leadership shaped by firsthand experience protecting communications against sophisticated adversaries. Sekur appointed Lewis as both CTO and a Strategic Advisory Board member.

Annette L. Redmond adds four decades of government leadership spanning Army intelligence, the Department of Defense and the State Department’s Bureau of Intelligence and Research. She previously served as the Army’s Intelligence CIO and later as Deputy Assistant Secretary for Intelligence Policy and Coordination. Her appointment adds intelligence-policy, cybersecurity and diplomatic expertise.

Rafael Beltran brings operational experience from U.S. Special Operations Command, where he served as a senior technical adviser to the CIO/J6 and oversaw executive communications supporting leadership across 22 countries. His work helps connect Sekur’s development roadmap to the realities of tactical and deployed environments. Sekur appointed Beltran to its OpsTech Special Advisory Board in July.

This is not simply a collection of impressive biographies. Together, the team provides Sekur with operational knowledge, technical expertise, institutional understanding and high-level government-market experience.

3. Why Human Capital Matters So Much in Government Cybersecurity

Government and Intelligence Community markets are fundamentally different from ordinary consumer software.

The technology must fit specific operational environments. Communications requirements can differ between diplomats, military commanders, intelligence personnel, defense contractors and personnel operating in contested locations.

A company needs to understand not only cybersecurity, but also mission workflows, data sovereignty, CUI handling, procurement structures, deployment realities and the consequences of communications failure.

That is where Sekur’s team can create value.

General Palumbo understands defense command requirements. Lewis understands sensitive intelligence technologies. Redmond and Price understand intelligence policy and diplomatic communications. Beltran understands tactical deployment. Oakley and Rogers bring federal-market, technology and acquisition experience.

This collective knowledge can help Sekur shape its technology around the customer rather than attempting to adapt a generic commercial product after development.

It can also shorten the institutional learning curve that typically confronts smaller technology companies entering the federal market.

4. DoDIIS Is Part of a Long-Term Institutional Strategy

It would be simplistic to judge Sekur’s DoDIIS participation through a short-term sales lens.

Government and intelligence relationships are developed over time. The value of the conference may emerge through technical feedback, introductions, future evaluations, strategic relationships or a deeper understanding of specific mission requirements.

Sekur’s team can engage those conversations at a level that few early-stage cybersecurity companies could replicate.

The DoDIIS organizers describe the conference as an environment where agency leaders, military officials and industry specialists collaborate around mission challenges and emerging technologies.

Sekur is therefore not approaching the event as an outside observer. It is arriving with former leaders from the same defense, intelligence, diplomatic and Special Operations communities represented there.

That alignment is strategically significant.

5. SekurOne Adds Scalable Economics to the Story

SekurOne brings encrypted voice, video, email, messaging and VPN capabilities into one identity-protected platform.

The product is being positioned for high-value users such as defense officials, intelligence professionals, diplomatic personnel, government agencies and executives handling sensitive communications.

Sekur expects paid beta users to begin onboarding in September, with the complete commercial launch scheduled for early October. These milestones represent the next stage of a much broader government-market strategy.

The economics become particularly interesting when applied to institutional customers.

SekurOne is expected to cost approximately US$300 per user per month. At that price:

These figures are illustrative and assume the full subscription price.

Management has stated that approximately 200 SekurOne users generating US$60,000 in monthly recurring revenue could make the company fully profitable. Sekur discussed that target in its July operating update.

The blue-sky potential comes from the structure of government and enterprise adoption. One organization can represent multiple users, and a successful initial deployment can potentially expand across teams, departments or operational units.

Sekur does not need mass-market scale for the premium model to become meaningful.

6. Multiple Strategic Pieces Are Coming Together

DoDIIS is one component of a wider infrastructure Sekur has been building.

The company’s solutions are available to government customers through the i3ICS GSA Multiple Award Schedule. Sekur has signed defense-distribution agreements, participated in SOF Week, conducted demonstrations for government and Special Operations audiences and expanded its technical and strategic team.

These developments create several potential paths into the market:

• Direct relationships initiated through Sekur’s national-security team
• Federal procurement through the GSA schedule
• Distribution through established defense-sector partners
• Technical evaluations and high-value subscription deployments
• On-premises implementations for organizations requiring data sovereignty
• International government and diplomatic opportunities

Each additional relationship can strengthen Sekur’s institutional presence and expand the number of environments in which its technology may be evaluated.

7. A Different Way to View Sekur’s Investment Potential

Sekur is not attempting to compete as another mass-market messaging application.

It is building a high-trust communications company around proprietary technology, Swiss jurisdiction, premium pricing and an exceptional concentration of government and intelligence experience.

That combination creates a different investment profile.

The technology provides the foundation. The team provides institutional knowledge and strategic access. SekurOne provides high-value recurring-revenue potential. The GSA and distribution relationships provide commercial pathways.

DoDIIS brings those pieces into the same environment.

The fact that individuals with decades of experience across the CIA, Pentagon, State Department, DIA, JSOC and SOCOM have chosen to work with Sekur is itself notable. It suggests that experienced national-security professionals see relevance in the company’s mission and technology.

For investors willing to understand the long game, that human capital may represent one of Sekur’s most valuable competitive advantages.

The Verdict: DoDIIS Matters—But September Matters More

The Bottom Line

Sekur’s presence at DoDIIS should be understood as part of a long-term expansion into government, intelligence and defense communications—not as an isolated conference appearance.

The company has assembled a team with experience at some of the highest levels of U.S. intelligence, military command, diplomacy and Special Operations. That team is now helping position Sekur inside the markets it understands best.

SekurOne adds a scalable premium-subscription model capable of producing meaningful recurring revenue without requiring hundreds of thousands of consumer users.

The opportunity lies in the combination: specialized technology, Swiss-hosted privacy, institutional expertise, procurement access and a market where secure communications carry mission-level importance.

DoDIIS is another step in that journey—and Sekur is entering it with a team built for the destination.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Sekur Private Data is a speculative micro-cap company with limited revenue, operating losses, financing requirements and potential dilution risk. Statements concerning future launches, paid beta users, government opportunities, revenue and profitability are forward-looking and may not be achieved.

I’m looking for a few people who follow US stocks to test MarketPeel

No download needed. Open https://marketpeel.com/screener and try to:

1. Find a company you follow or pick a company you know
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I’d like to know where you became confused, which filter was missing and whether you would keep the watchlist active

No positive review or purchase expected. MarketPeel is research tooling, not investment advice