Intercede Group
IGP · AIM · Technology · mcap £80m · 139.0p 2 open situations →
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FY26 revenue shortfall and FY27 target
H1 revenue +32%, FY27 guidance held
A 17 March 2026 warning put FY26 revenue 8-9% and adjusted EBITDA 15-18% below consensus because of US Federal procurement delays. The board said deals were deferred, not lost. April orders followed, FY26 revenue was £17.2m, and 3 August brought c$2.6m more. On 8 October the company reported H1FY27 revenue of about £10.85m, up 32.1%, and £3.0m of new orders. It kept FY27 guidance.
- April orders
- c.$5.2m (9 April) plus c.$3.8m (21 April)
- 3 Aug orders
- c$2.6m new orders and renewals, plus c$1.65m potential renewals to Feb 2030
- FY27 revenue target
- £21 million reaffirmed earlier
- Board view
- FY27 has started well, pipeline conversion and momentum maintained
- H1FY27 revenue
- approx. £10.85m, +32.1% (H1FY26: £8.21m) 8 Oct 2026 ↗
- Orders since 3 Aug
- approx. £3.0m, plus ATP of £0.52m with a purchase order expected in Q3FY27 8 Oct 2026 ↗
Next: H1FY27 interim results · 24 Nov 2026
- 8 Oct 2026 H1 revenue +32%, FY27 guidance held
- 3 Aug 2026 FY27 trading momentum continuing; orders still arriving
- 23 Jun 2026 Results confirm miss; FY27 started in line
- 21 Apr 2026 Further post-warning orders c$3.8m; deals deferred, not lost
Insider conviction
2 directors buying
£200k in 3 buys
- 23 Sep 2026 Dan O’Brien £26k
- 14 Sep 2026 Royston Hoggarth £116k
- 8 Sep 2026 Royston Hoggarth £57k
Closed · 2
Company filings. Not investment advice.