22
March 2024
INTERCEDE GROUP
plc
('Intercede', the 'Company'
or the 'Group')
New Orders and Trading
Update
Intercede, the leading cybersecurity software
company specialising in digital
identities, today announces a new contract
win, further strong trading and uplift on market expectations for
the current financial year ending 31 March
2024 ("FY24")*.
The Group is pleased to announce an
order for a new licence test environment for an existing US Federal
Agency, which, combined with anticipated additional conversion of
our existing pipeline, means that the Group now expects financial
performance to be ahead of market expectations for FY24 and creates
further contracted revenue backlog for FY25.
With this momentum coinciding with
the launch of our new product release, MyID MFA v5, the Group is in
a robust position to execute on its forthcoming plans for FY25 and
beyond.
Klaas van der Leest, CEO, commented:
"Once again, I am pleased to announce further traction through
our partners in the US, UK, Continental Europe and Middle East,
resulting in a further upgrade of market expectations for
FY24.
With this being our third raise in so many months, FY24 has
been an exceptional year for the Group, reflecting the quality of
the Group's products and services. Our pipeline continues to
develop in line with our expectations and we look forward to the
commencement of the new financial year."
*
The current market forecast for the year ending 31 March 2024 is
revenue of £19.2 million and adjusted EBITDA of £5.6
million.
ENQUIRIES
Intercede Group plc
|
Tel.
+ 44 (0)1455 558111
|
Klaas van der Leest
|
CEO
|
Nitil Patel
|
CFO
|
|
|
Cavendish Capital Markets Limited
|
Tel.
+ 44 (0)20 7220 0500
|
Simon Hicks/Fergus
Sullivan
|
Corporate Finance
|
Tim Redfern
|
ECM
|
About Intercede
Intercede is a cybersecurity
software company specialising in digital identities, and its
innovative solutions enable organisations to protect themselves
against the number one cause of data breach: compromised user
credentials.
The Intercede suite of products
allows customers to choose the level of security that best fits
their needs, from Secure Registration and ID Verification to
Password Security Management, One-Time Passwords, FIDO and
PKI. Uniquely, Intercede provides the entire set of
authentication options from Passwords to PKI, supporting customers
on their journey to passwordless and stronger authentication
environments. In addition to developing and supporting Intercede
software, the Group offers professional services and custom
development capabilities as well as managing the world's largest
password breach database.
For over 20 years, global customers
in government, aerospace and defence, financial services,
healthcare, telecommunications, cloud services and information
technology have trusted Intercede solutions and expertise in
protecting their mission critical data and systems at the highest
level of assurance.
For more information visit:
www.intercede.com
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and
is disclosed in accordance with the company's obligations under
Article 17 of MAR.