REG - Narf Industries PLC - US$6.8M Multi-Phase Contract with US Gov Agency

Narf IndustriesAnnouncement

06/03/2025 07:00

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RNS Number : 5401Z  Narf Industries PLC  06 March 2025

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6 March 2025

NARF INDUSTRIES PLC

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

 

New US$6.8 Million Multi-Phase Contract with US Government Agency DARPA

 

Transforming cybersecurity testing & addressing real-world challenges

 

Narf Industries plc (LSE: NARF), a leading cybersecurity group specializing in
advanced threat intelligence and software system security, is pleased to
announce its U.S. subsidiary, Narf Industries LLC, signed a US$6.8 million
multi-phase contract with the U.S. Government's Defense Advanced Research
Projects Agency ("DARPA"). This three year contract, under DARPA's Intelligent
Generation of Tools for Security ("INGOTS") programme, aims to identify and
address high-severity, chainable vulnerabilities before they can be exploited
by attackers.

 

Highlights

·    Three year, US$6.8 million multi-phase contract commencing 31 January
2025.

·    The Company expects to recognise circa US$2.6 million of revenue for
the first phase of the contract in its financial year ending 31 March 2026.

·    Three future phases are scheduled to commence on 31 January 2026 and
2027 and are valued at $1.67 million, $1.24 million, and $1.3 million,
respectively.

·    Revenue for the future phases is expected to be recognised in the
Company's financial year following the completion of each stage.

·    Progression to future phases is subject to programme and budgetary
requirements and successful milestones being achieved.

·    This contract will support the development of Narf's advanced system
that simulates multi-step cyberattacks, helping customers identify and address
vulnerabilities within their organisations.

·    The first phase will see Narf develop prototypes of its system for
customer evaluation, paving the way for government and commercial
opportunities as the technology matures.

 

Steve Bassi, President and CEO said: "We are delighted to be part of DARPA's
pioneering INGOTS programme, reaffirming Narf's commitment to safeguarding
critical systems against sophisticated and evolving cyber threats. This
significant US$6.8 million multi-phase contract enables us to further develop
our system that goes beyond merely identifying vulnerabilities but represents
a fundamental shift in cybersecurity strategy. By simulating real-world attack
tactics, our technology will empower organisations to anticipate and counter
emerging threats, ensuring stronger protection for their assets and
infrastructure."

 

Further information

With the increasing complexity of modern software ecosystems, securing digital
infrastructure has become a paramount challenge. Vulnerabilities are no longer
isolated to single systems, but often span interconnected platforms, operating
systems, and devices. Attackers exploit these vulnerabilities by creating
intricate attack chains, leveraging weaknesses across the software stack to
breach defences.

 

To address these challenges and identify and fix high-severity, chainable
vulnerabilities before attackers can exploit them, DARPA, a US Government
agency, launched the INGOTS programme.

As part of this programme, DARPA has awarded Narf a contract to further
develop its innovative system, which simulates real-world, multi-step attack
chains in a controlled environment.

 

Narf expects to recognise approximately US$2.6 million in revenue from the
contract in its financial year ending 31 March 2026. Three future stages are
scheduled to commence on 31 January 2026 and 2027 and are valued at $1.67
million, $1.24 million, and $1.3 million, respectively. Revenue for the future
stages is expected to be recognised in the Company's financial year following
the completion of each stage. Progression to the subsequent stages is subject
to programme and budgetary requirements and successful milestones being
achieved.

 

By identifying weaknesses at every stage, Narf's system enables security teams
to proactively address threats before they can be exploited. A key strength of
the system is its adaptability. In today's rapidly evolving digital landscape,
platforms such as Android undergo frequent updates, with vulnerabilities being
patched and new ones emerging. Narf's system automatically adapts to these
changes, detecting where attack chains are disrupted and seamlessly
identifying alternative pathways to continue rigorous testing. This dynamic
approach ensures continuous, up-to-date protection for critical software and
systems.

 

During the first phase of the contract, Narf will develop early prototypes of
its system for evaluation by potential customers. As the technology matures,
it is expected to unlock opportunities with both government and commercial
organisations.

 

ENDS

 

This material is based upon work supported by the Defense Advanced Research
Projects Agency under Contract No. HR001125C0013. Any opinions, findings and
conclusions or recommendations expressed in this material are those of the
author(s) and do not necessarily reflect the views of the Defense Advanced
Research Projects Agency (DARPA).

 

For further information visit www.narfgroup.com or contact:

 

 Narf Industries plc         John Herring      jh@narfgroup.com
 Joint Broker                Simon Bridges     Tel: +44 (0) 207 523 8000

 Canaccord Genuity Limited   Harry Rees
 Joint Broker                Peter Krens       Tel: +44 (0)207 186 9030

 Tennyson Securities plc
 Financial PR, UK            Paul Dulieu       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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