Shares in Osirium Technologies PLC (AIM:OSI) spiked 17% after the cyber-security specialist provided an upbeat update on first-quarter trading.
It said annual recurring revenue (ARR) was £2.04mln, an increase of 31% from the previous year and 10% from the previous quarter.
The growth was attributed to new customer wins in various industries, licence upsells and expansions within existing customers, and a growing awareness of the need for privileged security products.
The company said it expects its healthy increase in ARR to continue, reflecting the ongoing demand for its products and the substantial market opportunity.
The shares jumped 0.2450p to 1.68p.