New Orders and Trading Update
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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.
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