REG-Acuity RM Group Plc: Correction to Year end Update

Acuity RMAnnouncement

05/02/2025 09:15

The following amendments have been made to the '(Year end Update)'
announcement released on 4 February 2025 at 7am.

 

Cash receipts from debtors are expected in January 2025, rather than 2024.
David Rajakovich was appointed Chief Executive in December 2024, rather than
2023.

 

All other details remain unchanged.

 

The full amended text is shown below.

 

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

 

Acuity RM Group plc

("Group")

 

Correction - Year end Update

 

 

Acuity RM Group plc (AIM: ACRM), the software group, which supplies the
award-winning STREAM® software platform for the Governance, Risk and
Compliance ("GRC") market, together with associated consultancy services,
provides the following update on trading for its year ended 31 December
2024.  (All figures are unaudited.)

 

Year end update

 

In the year ("Acuity"), Acuity again increased revenues and upsell orders from
existing clients. 
* Revenues for Acuity in the 12 months are expected to be £2.1m (2023
£1.4m).
* At 31 December 2024 total cash together with cash receipts from debtors
expected in January 2025 amounted to £1.3m.  (2023 £1.3m)
* Forward contracted revenue as at 31 December 2024 £3.4m (2023 £2.9m)
* The pipeline of sales prospects was £7.92m at 31 December 2024, based on
the same criteria as 31 Dec 2023 (£7.9m).
 

(2023 comparatives for the trading subsidiary are for the period from 25 April
23 to 31 December 2023.  Cash is for the Group as a whole.)

 

Angus Forrest, Chairman, commented; "2024 was a year of consolidation
following the acquisition of Acuity Risk Management Ltd in 2023.  Revenues
increased mainly because of the organic growth of business with existing
customers and the Rizikon business was acquired towards the end of the
period.  At the end of 2024 changes were made to management with David
Rajakovich appointed as Chief Executive; his focus is accelerating growth in
2025 and driving the business to the next stage.  There is much to do but the
market opportunity for management of cybersecurity risk and GRC is large,
growing strongly so I expect to be able to report significant progress towards
cash generative and profitable trading in 2025."

 

Key updates

 

New management

David Rajakovich was appointed Chief Executive in December 2024.  He has a
background of successfully growing and selling software businesses.  Since
starting he has made several changes and developments, the major ones include:

 

Market - increased focus on cybersecurity sector

The market for cybersecurity is growing strongly as the number of incidents
grows and there is increasing awareness of the risks and the costs of
cybersecurity breaches, both fiscal and reputational.  Acuity's STREAM® is a
software platform to provide risk management in Cyber GRC, Cyber Risk
Quantification, Continuous Controls Monitoring, Cybersecurity Continuous
Compliance Automation.  The STREAM® solution delivers all these capabilities
on a single integrated software platform.

 

Go to market - new lead generation

Focus on generating leads in markets where Acuity can demonstrate technical
excellence and leadership.  This should increase sales productivity and
efficiency by improving the conversion rates and time to conversion.

 

New website - focused on customer requirements and business development in
cybersecurity markets prepared and launched in January 2025 -
https://acuityrm.com .  The website will continue to be revised and updated.

 

Rizikon - following the acquisition of Rizikon in November 2024
* All subscriptions falling due since acquisition have been renewed and the
purchase price recovered
* STREAM® is in the process of being upgraded to incorporate all the features
and functions of Rizikon, when that is complete all subscribers will be
transferred to STREAM®
* Discussions are on-going to increase the number of users of the product
 

Revisions to the recurring costs to improve performance by increasing
productivity and efficiency

 

Presentations - It is planned to hold investor presentations in February to
introduce David Rajakovich and his plans for the business.  Dates will be
announced in due course.

 

David Rajakovich, Chief Executive, said: "I've experienced businesses in
similar situations as Acuity. Measures have been taken to, amongst other
things, sharpen our sales strategy and strengthen our product-market alignment
and we are already seeing early positive signals from our refined market
approach. Looking ahead, I'm confident that our strategic initiatives and
robust product roadmap will position us well to accelerate growth and capture
more of an expanding market."

 

 

 For further information please contact:                                 
 Acuity RM Group plc                      https://acuityrmgroup.com      
 Angus Forrest                            +44 (0) 20 3582 0566           
 Zeus (NOMAD & Broker)                    https://www.zeuscapital.co.uk  
 Mike Coe / James Bavister                +44 (0) 20 3829 5000           
 Peterhouse Capital (Joint broker)                                       
 Lucy Williams / Duncan Vasey             +44 (0) 20 7469 0936           
 Clear Capital (Joint broker)                                            
 Bob Roberts                              +44 (0) 20 3869 6080           

 

Note to Editors

Acuity RM Group plc

Acuity RM Group plc (AIM: ACRM), is an established provider of risk management
services. Its award-winning software platform, STREAM®, which collects and
analyses data about organisations to improve business decisions and
management, is currently used by around 70 organisations in markets including
government, utilities, defence, broadcasting, manufacturing and healthcare.

The Company is focused on delivering long term, sustainable growth in
shareholder value from organic growth and complementary acquisitions.



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