Intercede Group PLC on Tuesday said trading has shown strong momentum against market forecasts as it noted progress in licence wins.
The Leicestershire, England-based cybersecurity software firm said it expects revenue for the 12 months ended March 31 to fall 11% to approximately £17.7 million from £20.0 million the prior year.
It noted that the previous year benefitted from an ‘exceptional perpetual licence and associated support and maintenance order’ valued at around £6.3 million.
The firm said that its underlying performance has continued to show strong momentum when compared to market forecasts.
Shares in Intercede were up 5.2% at 134.16 pence on Tuesday morning in London.
The firm said that around 58% of total revenue is tied to recurring support & maintenance and subscription revenue, with this representing advancements in both licence wins and low churn rates.
Owing to the combination of strong revenue and high operational gearing, Intercede expects improved forecasted profitability.
The firm anticipates reporting its financial 2025 results in June.
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