PSI Software Hit by Cyberattack, Cash Flow Improves

PSI AG fuer Produkte und Systeme der Informationstechnologie (DE:PSAN) has released an update.

PSI Software SE reported a significant drop in sales and a negative operating result for Q1 2024 due to a cyberattack, with sales falling 13.7% to €50.3 million and the operating result down to -€14.8 million. Despite the cyberattack’s impact, the company saw a 25% improvement in cash flow to €15.9 million. The company resumed operations in May after the attack in February and is implementing enhanced IT security measures.

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