Intercede Group (AIM:IGP), a UK-based cyber security software company, said today that it expects to exceed market expectations in 2024 after securing a new client in the US intelligence community.
The specialist in digital identity and credential management said it has been awarded a US$1 million licence agreement from an undisclosed client operating in US intelligence.
The licensing deal for its secure mobility and digital identity technology includes support and maintenance services, and a separate annual subscription of US$0.2 million, it said.
Intercede said that with the latest contract win and conversion of its existing pipeline in the fourth quarter, the company “now expects financial performance to be ahead of market expectations for FY24”.
Existing forecasts suggest that it will generate £18 million of revenue and £5.2 million in adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) for the year ending in March 2024.
Chief executive Klaas van der Leest said: “The order was contracted through the channel, again underpinning our go-to-market strategy. We have ended 2023 on a high and aim to continue with this momentum into the final quarter and FY25."