The digital identity specialist says government and defence demand drove a sharp rise in first-half sales, with £23.4m of cash and no debt on the balance sheet.
Intercede Group (AIM: IGP) has posted a 32% jump in first-half revenue to roughly £10.85m, up from £8.21m a year earlier, as the cybersecurity and digital identity group benefited from robust demand across its US government, defence and aerospace customer base.
The growth was driven chiefly by perpetual licence sales, which more than doubled to £2.73m in the six months to 30 September, while recurring support and maintenance income held steady at £5.64m. Intercede said it ended the period with gross cash of £23.4m and no debt, underlining the cash-generative nature of its licensing model.
Since early August the company has secured around £3m of new contract orders and renewals, largely tied to its core US federal, defence and aerospace markets, including work linked to US Federal Government and Department of State deployments. It also received authority to proceed on a development project for a US federal agency, a signal of continued pipeline strength in its niche identity-assurance market.
Intercede's business supplies secure credentialing and identity software used by governments and large enterprises to protect sensitive systems, a sector that has seen steady investment as cyber threats and geopolitical tensions push defence and public-sector bodies to tighten digital access controls.
Management said it had made a good start to the second half and expects full-year results to come in line with market expectations. Interim results are scheduled for 24 November, when investors will look for further detail on margin trends and the durability of licence demand beyond the current contract pipeline.
This report is based on Intercede Group’s announcement and coverage by UK Investor Magazine. Company announcements can be tracked via London Stock Exchange RNS and Investegate, and the full markets calendar is worth watching for the next update.
This article is for general information only and does not constitute investment advice or a recommendation to buy or sell any security. Photo: Markus Spiske on Unsplash.
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