Trading Update
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Intercede, the leading cybersecurity software company specialising in digital identities, today announces the following trading update for the financial year ended 31 March 2024 ("FY24").
As outlined in the announcements of 5 December 2023, 3 January 2024 and 22 March 2024, Intercede's underlying trading performance has continued to show strong momentum. The Group is pleased to announce that, subject to the completion of the year end audit, revenues for FY24 are expected to be approximately £20m (2023: £12m), 65-66% higher than FY23 and 66-67% higher on a constant currency basis.
The combination of higher revenues and the high operational gearing present in the business is expected to result in improved profitability.
As at 31 March 2024, gross cash balances totalled £17.2m (2023: £8.3m). The Group has no debt.
Further details will be provided within Intercede's final results which are expected to be published in June 2024.
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