Intercede books lower sales in 2025 but positive on contract renewals
Intercede Group PLC on Thursday noted lower estimated revenue in financial 2026, but remained positive on the back of new orders and contract renewals.
Shares in the Leicestershire, England-based cybersecurity software firm rose 7.7% to 84.00 pence each on Thursday afternoon in London.
Intercede said its revenue fell 2.8% to £17.2 million in the year that ended March 31 from £17.7 million, though the decline was a softer 0.5% on a constant currency basis.
The company stressed that its subscription revenue had grown by about 18% on-year to £2.0 million, but said the total sales figure reflected ‘procurement delays, particularly in the United States, and customer purchasing deferrals attributable to heightened geopolitical uncertainty, including the conflict in the Middle East.’
Intercede’s cash balance was £20.0 million at the end of March, up from £18.7 million a year prior.
In parallel, the company noted ‘a large US Federal Government annual subscription renewal’ worth $3.5 million in total, running until the end of March 2027, and marking the third year of a base year plus four optional incremental-year agreement.
Intercede also booked a renewal, subscription and professional services order worth $350,000 from a US supervisory banking system, renewals for US and European defence contractors, as well as a North American telecommunications operator, and other US government departments.
Including the $3.5 million contract, the new orders and renewals are worth a combined $5.2 million and were secured mainly via Intercede’s partners, it said.
Chief Executive Klaas van der Leest, CEO, commented: ‘Whilst our revenues for FY26 were impacted by procurement delays and customer purchasing deferrals, what was important to the board was that these opportunities were not lost.’
The CEO continued: ‘We are encouraged by customer engagement and the improvement in order intake momentum in the second half of FY26. As we enter the new financial year (FY27), the group is well placed to build on this momentum, while being mindful of the evolving global macroeconomic environment’.
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