Despite the potential for continued revenue growth, tech companies are being hit by market instability and the plunge of software stocks. One company, Cybereason, announced it is cutting 10 percent of its employees. Another artificial intelligence-based cybersecurity company, Deep Instinct, cut 10 percent of its workforce despite a 200 percent growth in annual revenue over last year. Another vendor, Lacework, cut 20 percent of its staff after raising $1.3 billion.
“We were working under the assumption that capital would be available, as much as we need and at the same price,” said Cybereason CEO Lior Div. “We were not optimized as a business.”
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
