8
January 2025
INTERCEDE GROUP
plc
('Intercede', the 'Company'
or the 'Group')
Contract Orders and Renewals
for MyID CMS and Maiden Order for MyID
SecureVault
Intercede, the leading cybersecurity software
company specialising in digital
identities, is pleased to announce
continued momentum in the business with further contract orders and renewals worth over $5m in
aggregate being signed during the month of December
2024.
These include the following new
orders and renewals:
·
A major licence order MyID CMS from a systems
integrator for a new government end client based in Asia. The order
is for c$0.9m with associated multi-year support and maintenance of
c$0.56m;
·
For the same client above, the maiden subscription
licence order for MyID SecureVault of c$0.5m over a 2-year
period;
·
A MyID MFA licence subscription order for a
leading airline in the Middle East (new logo) through a new partner
focussing on airport security screening;
·
A MyID MFA licence subscription order for a
leading Kuwaiti Bank (new logo) contracted through Intercede's
distribution channel in the region; and
·
MyID CMS subscription licence order for an
American publicly traded, government sponsored enterprise (new
logo), contracted through a managed services partner:
and
·
The following renewals for MyID CMS:
o a
support and maintenance renewal from a large US Federal Agency in
excess of $1.4m;
o a
support and maintenance renewal from a large US Federal Agency in
excess of $1.0m;
o a
support and maintenance renewal from a key US Federal Agency in
excess of $0.15m.
In addition to the above licence
orders and renewals, the Company also secured several professional
services orders worth, in aggregate, c$0.4m to implement new
installations and provide ongoing customer support.
These orders, combined with expected
additional conversion of the existing pipeline in Q4 FY25, means
that the Company now expects financial performance to be ahead of
market expectations for FY25* and further underpins confidence
looking forward towards FY26 and FY27.
Klaas van der Leest, CEO, commented:
"We are very pleased to secure new licence orders in the Rest
of the World territory (excluding Americas), especially with a new
government end client based in Asia which also includes the first
subscription licence order for MyID SecureVault.
The orders were contracted through Asia's leading cyber
security services provider, and once again, underpins our
go-to-market strategy.
The Group continues to demonstrate its ability to address
client needs quickly, efficiently, and commercially as the maiden
order for MyID SecureVault shows.
The renewals and services highlight the critical nature of our
software once in production and underpins the long tenure of our
existing client base".
*
The Board believes that the current consensus estimates for the
year ending 31 March 2025 is revenue of £16.1 million and adjusted
EBITDA of £3.3 million.
ENQUIRIES
|
Intercede Group plc
|
Tel.
+ 44 (0)1455 558111
|
|
Klaas van der Leest
|
CEO
|
|
Nitil Patel
|
CFO
|
|
|
|
|
Cavendish Capital Markets Limited
|
Tel.
+ 44 (0)20 7220 0500
|
|
Marc Milmo/Fergus Sullivan/Rory
Sale
|
Corporate Finance
|
|
Tim Redfern/Ondraya
Swanson
|
ECM
|
About Intercede
Intercede is a cybersecurity
software company specialising in digital identities, and its
innovative solutions enable organisations to protect themselves
against the number one cause of data breach: compromised user
credentials.
The Intercede suite of products
allows customers to choose the level of security that best fits
their needs, from Secure Registration and ID Verification to
Password Security Management, One-Time Passwords, FIDO and
PKI. Uniquely, Intercede provides the entire set of
authentication options from Passwords to PKI, supporting customers
on their journey to passwordless and stronger authentication
environments. In addition to developing and supporting Intercede
software, the Group offers professional services and custom
development capabilities as well as managing the world's largest
password breach database.
For over 20 years, global customers
in government, aerospace and defence, financial services,
healthcare, telecommunications, cloud services and information
technology have trusted Intercede solutions and expertise in
protecting their mission critical data and systems at the highest
level of assurance.
For more information visit:
www.intercede.com
The information communicated in this
announcement contains inside information for the purposes of
Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms
part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the company's obligations under Article 17 of MAR.
