Cybersecurity group Narf Industries PLC (LSE:NARF) climbed almost 13% on Thursday after unveiling results for 2023 ahead of previous guidance.
Full-year revenue climbed by 130% to US$6.0 million, the high-end threat intelligence specialist said, outdoing the expected US$5.8 million.
Pre-tax earnings were positive meanwhile, after Narf had said in July that it was aiming to break even over the year, and compared to a US$2.6 million loss in 2022.
"We've successfully worked the past nine months to complete the transition from a private and entrepreneurial-led venture to the main operating business of an LSE listed company,” chief executive John Herring said. “We enter 2024 with strong business momentum and upside potential.”
Narf co-founder Nick Davis was announced as chief operating officer on Thursday, alongside Neil Warrender as chief financial officer, while Albert Hawk joined as a new board member.
Shares climbed 12.7% to 0.82p.