Intercede secures $4.45m of new orders and renewals
By Josh White
Date: Wednesday 02 Apr 2025
(Sharecast News) - Intercede announced on Wednesday that it has secured a series of new orders and subscription renewals worth about $4.45m, with strong momentum continuing across both the US and Middle East markets.
The AIM-traded cybersecurity software firm said the contracts, all received via partners, would lift revenue for 2025 above the board's expectations and further strengthen its contracted revenue backlog for the 2026 financial year.
It said the largest of the agreements was a $3.49m annual subscription renewal for MyID CMS with a longstanding US federal government client, covering the 12-month period from 1 April.
That, the board said, marked the second year in a base-plus-four optional year contract.
Additional US orders included renewals with a US banking supervisory body and a global defence contractor, valued at $0.19m and $0.27m, respectively.
A $0.145m professional services engagement had also been agreed, to support a federal agency operating across more than 250 sites worldwide.
A further $0.32m contract was signed with an existing proof-of-concept client in the US federal sector for server licensing and support.
In the Middle East, Intercede said it had secured three smaller licensing deals for MyID PSM and MFA products, collectively valued at $45,000 annually, with agencies spanning the government pension, financial, and critical infrastructure sectors.
The company said the orders underlined sustained demand for its identity and access management solutions in regulated sectors, and supported continued growth in its subscription-based revenue model.
"I am delighted by the strong March order intake and indeed the full year outturn with new orders and major renewals, including the subscription renewal with a large US federal customer," said chief executive officer Klaas van der Leest.
"We now enter the 2026 financial year with further momentum, a geo-diversified pipeline, market leading product solutions and unwavering commitment from our largest asset, our group colleagues."
At 1103 GMT, shares in Intercede Group were up 2.8% at 147p.
Reporting by Josh White for Sharecast.com.
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