REG - Narf Industries PLC - Trading Update and New Contract Win

Narf IndustriesAnnouncement

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RNS Number : 6515A  Narf Industries PLC  16 April 2026

16 April 2026

NARF INDUSTRIES PLC

("Narf", the "Company", or the "Group")

 

Trading Update and New US$2.5 Million Contract

 

Revenue growth and strengthened FY27 visibility; initial Ranger.ai contract

 

Narf Industries plc (LSE: NARF), a U.S.-based cybersecurity group specialising
in advanced threat intelligence and resilient software security, is pleased to
provide a trading update for the year ended 31 March 2026 (FY26).

 

HIGHLIGHTS

●     Unaudited FY26 revenue of approximately $4.2 million (FY25: $3.0
million)

●     Approximately $5.3 million in FY27 revenue to come from contracted
backlog

●     New government contract award exceeding $2.5 million (post period
end)

●     Rebranding of Ranger.ai to UPxi.ai (Upstream Extended
Intelligence)

●     Initial UPxi contract secured via a partner with a major systems
integrator (low six figures), with follow-on phases planned to expand scope
and value

 

John Herring, Executive Chairman of Narf Industries plc, commented: "This has
been a year of improved financial performance driven by new government-funded
research and development contracts, while we continue to invest significantly
in transitioning that work into product solutions, specifically UPxi. We
remain focused on securing a consistent stream of high-value government
research contracts while accelerating the path to commercialisation."

 

DETAILS

Financial performance

The Group delivered a strong trading performance for the year ended 31 March
2026, with unaudited revenue of approximately $4.2 million, representing a
significant increase compared to $3.0 million in the prior year. Growth has
been driven primarily by continued momentum within the Group's Government
Research and Development (GR&D) activities.

 

The Group has also strengthened its forward revenue visibility, with
approximately $5.3 million of 26/27 revenue in place across several contracts.
This reflects both new contract awards and the extension of existing programme
activity.

 

The Company continues to manage its growth within existing financial
resources. The CEO loan facility stood at approximately $2.96 million
(excluding interest) at the period end, and no external capital was raised
during the period.

 

Strategic and operational progress

During the period, the Group completed the rebranding of Ranger.ai to UPxi,
reflecting its evolution into an Agentic AI platform focused on upstream
intelligence for open source software, enabling early detection of
cybersecurity risk at source before downstream impact. This repositioning
marks an important step in the Group's transition from project-based delivery
to a more scalable, platform-led model.

 

GR&D programmes continue to act as both a core revenue engine and a
strategic foundation for the Group. Projects are increasingly aligned with the
development of UPxi, creating a pathway from government-funded research to
repeatable commercial software solutions.

 

The Group has made initial progress in executing its commercial strategy. A
low six-figure, four-month first-phase UPxi contract has been secured through
a partner aligned with a major systems integrator, providing an entry point
into broader opportunities, with follow-on phases expected to expand scope and
value. The Group is also advancing related partner activities, including with
Platform One / Iron Bank, supporting the development of longer-term, recurring
programme opportunities.

 

Engagement with major application security companies, including at the RSA
Conference, a leading global cybersecurity industry event, has indicated
strong demand for UPxi and supports the development of a partner-led
distribution model.

 

Post period end, the Group secured a new R&D contract award from a U.S.
government customer exceeding $2.5 million. While further details remain
subject to contractual restrictions, the award represents validation of the
Group's capabilities in software supply chain security and is expected to
contribute to future revenues.

 

Outlook

The Board remains confident in the Group's strategy and its ability to convert
its growing pipeline into sustained revenue growth. Improved visibility from
contracted revenues provides a strong foundation for the current financial
year.

 

Continued progress in commercial partnerships and the development of the UPxi
platform are expected to support the Group's transition towards a scalable and
repeatable revenue model.

 

ENDS

 

For further information visit www.narfgroup.com (https://www.narfgroup.com) or
contact:

 

 Narf Industries plc       John Herring      jh@narfgroup.com (mailto:jh@narfgroup.com)
 Broker                    Peter Krens       Tel: +44 (0)207 186 9030

 Tennyson Securities plc
 Financial PR, UK          Paul Dulieu       narf@stbridespartners.co.uk (mailto:narf@stbridespartners.co.uk)

 St Brides Partners        Isabel de Salis

 

About NARF Industries plc

Narf Industries (LSE: NARF) is a U.S. based leading provider of cybersecurity
research, solutions, and services to government entities. With a steadfast
commitment to protecting national security and critical infrastructure, it
offers comprehensive expertise in addressing the evolving cyber threats faced
by its clients.

 

 

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