Falanx Cyber Sec. - Trading Update

Cloudified Holdings

29/06/2023 07:00

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RNS Number : 2791E  Falanx Cyber Security Limited  29 June 2023

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.

 

FALANX CYBER SECURITY LIMITED

("Falanx" or the "Company")

Trading Update

Falanx Cyber Security Limited (AIM: FCS), the global cyber security provider,
is pleased to provide an update on trading for the year ended 31 March 2023
("FY23").

Total revenues for FY23 are expected to be c.£3.8m (2022: c.£3.5m)
representing organic growth of c.9% year on year. The Group experienced steady
growth on PenTest revenues of 5% and it also saw strong growth in SOC
monitoring revenues which grew by c.21% when compared to FY22. Total SOC order
values (New Logo, Renewals, Uplifts & extensions) were up by 58% on FY22,
reflecting the continual achievement of service excellence (with a strong Net
Promoter Score of 80%+). This resulted in a growing volume of SOC clients
through high annual renewal levels as well as growth in the estate coverage of
individual clients.

The business has a healthy pipeline of business and has significantly lowered
its operating cost base recently and expects to improve its financial
performance in the next few months against a backdrop of further sales order
growth so far in the first quarter of this financial year.

The Group will report its audited results prior to the end of September 2023.

 

Enquiries:

 

 Falanx Cyber Security Limited         Via IFC

 Alex Hambro Chairman

 Mike Read CEO

 Ian Selby CFO

 WH Ireland                            + 44 (0) 207 220 1666

 Mike Coe/ Sarah Mather (Nomad)

 Fraser Marshall (Corporate Broking)

 IFC Advisory Ltd                      +44 (0) 203 934 6630

 Financial PR & IR

 Graham Herring / Zach Cohen

 

About Falanx

Falanx Cyber Security Limited is a cyber security services provider, offering
enterprise-class offensive and defensive security solutions to Small and
Medium-sized Enterprises (SMEs). For further information
visit: www.falanxcyber.com (http://www.falanxcyber.com)

 

 

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