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Expenses and loan repayments have hampered Pegasus developer NSO Group from the start, and even before US blacklisting, the company reportedly looked to sell the spyware to countries it knew would abuse it.

NSO CEO Shalev Hulio has previously insisted that law-abiding citizens have nothing to be afraid of from his company’s Pegasus spyware. Nonetheless, Pegasus has been used to spy on EU officials, including the Spanish Prime Minister.Now a new report from the Financial Times claims that at one point in 2021, the company was in extreme financial disarray, and CEO Hulio proposed a solution. He wanted to sell Pegasus to firms he reportedly described as risky.

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