UK's Intercede FY26 prelim revenue falls 2.8% on US delays
UK's Intercede FY26 prelim revenue falls 2.8% on US delays
Overview
UK cybersecurity software firm's preliminary FY26 revenue fell 2.8% due to US procurement delays
Adjusted EBITDA and net profit declined from prior year
Recurring revenue rose to 66% of total, reflecting shift to subscription model
Outlook
Company says FY27 has started in line with Board expectations, supported by strong order intake
Intercede expects intensifying cybersecurity regulation and demand to support future growth
Company sees a geo-diversified sales pipeline expected to convert in FY27
Result Drivers
US PROCUREMENT DELAYS - Co said revenue decline was due to delayed US Federal procurement amid geopolitical uncertainty
RECURRING REVENUE GROWTH - Recurring revenue rose to 66% of total, up from 60% in FY25, as shift to subscription model continued
ORDER MOMENTUM IN H2 - Improved customer engagement and order intake in H2, with delayed orders converting post year-end
Company press release: ID:nRSW2804Ja
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
FY Revenue |
| GBP 17.20 mln |
|
FY EPS |
| GBP 0.06 |
|
FY Net Income |
| GBP 3.40 mln |
|
FY Gross Margin |
| 95.30% |
|
FY Basic EPS |
| GBP 0.06 |
|
FY Gross Profit |
| GBP 16.40 mln |
|
FY Pretax Profit |
| GBP 3.70 mln |
|
Analyst Coverage
Wall Street's median 12-month price target for Intercede Group PLC is GBp180.00, about 49.4% above its June 22 closing price of GBp120.50
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 19 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)