REG - Intercede Group PLC - Major New Contract Win

IntercedeAnnouncement

03/01/2024 07:15

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RNS Number : 4396Y  Intercede Group PLC  03 January 2024

03 January 2024

INTERCEDE GROUP plc

('Intercede', the 'Company' or the 'Group')

 

Major New Contract Win

 

Intercede, the leading specialist in digital identity, credential management
and secure mobility, is pleased to announce that the Group has been awarded a
major licence order with associated support and maintenance totalling
approximately $1.0 million for a new client in the US Intelligence Community.
In addition to the perpetual licence order, the client is also contracted for
a separate annual subscription of $0.2 million.

 

This order, combined with expected additional conversion of our existing
pipeline in Q4, means that the Company now expects financial performance to be
ahead of market expectations for FY24* and further underpins FY25.

 

Klaas van der Leest, CEO, commented:

 

"We are particularly pleased to secure this order because it has potential to
grow further and the fact that there is a subscription element associated with
it.

 

The order was contracted through the channel, again underpinning our
go-to-market strategy. We have ended 2023 on a high and aim to continue with
this momentum into the final quarter and FY25".

 

* The current market forecast for the year ending 31 March 2024 is revenue of
£18 million and adjusted EBITDA of £5.2 million.

 

 

ENQUIRIES

Intercede Group plc
                                             Tel. +44
(0)1455 558 111

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 (http://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.

 

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