Cirata maintains outlook as quarterly bookings fall
By Josh White
Date: Thursday 16 Oct 2025
(Sharecast News) - Cirata shares were sliding on Thursday, after reporting a fall in quarterly Data Integration bookings even as it remained on track to meet its full-year outlook for bookings and cost reductions.
The firm recently completed the divestment of its DevOps business and was refocusing entirely on its Data Integration (DI) operations.
In an unaudited trading update for the third quarter to 30 September, the AIM-traded company reported total DI bookings of $3.4m year-to-date, up 42% from $2.4m a year earlier.
However, quarterly DI bookings fell to $0.3m from $1.4m in the same period last year, which the company attributed to the timing of contract completions.
Post-period, Cirata secured a $3.1m three-year deal with a leading US insurer for its Live Data Migrator product, the largest direct contract in its history.
The agreement represented a transition by the customer from a one-year legacy Fusion product to a multiyear Live Data Migrator commitment.
Chief executive Stephen Kelly said the quarter marked "a pivotal step in our transformation as we completed the strategic divestment of the DevOps business, allowing us to focus fully on Data Integration."
He added: "The launch of Cirata Symphony, our data orchestration platform, led by our CTO Paul Scott-Murphy, and developed in close collaboration with our customers, underpins our growth strategy.
"This platform positions the Company to take advantage of the market adjacencies beyond data migration."
The DevOps divestment to BlueOptima completed in August, generating $2.5m in proceeds, with up to $1m in additional consideration expected by December.
Cirata said the transaction reinforced its focus on its core DI growth business.
The company continued to streamline operations, cutting its cost base to an annualised run rate of $12m to $13m entering the fourth quarter, around 70% lower than its peak.
Cash burn in the quarter fell sharply to $0.8m from $3.2m a year earlier.
Cirata ended September with $5.4m in cash and $0.3m in short-term trade receivables.
Kelly said improvements in sales execution were already visible following the appointment of Dominic Arcari as chief revenue officer in July.
"We can expect to see further quality hires as we strengthen the go-to-market function," he said.
"With a current cost base reduced by approximately 70% from its peak, stronger execution discipline and a clear strategic focus, we have established solid foundations for operating leverage and with early momentum in the fourth quarter we remain confident in delivering improving performance in the second half of the 2025 financial year."
Cirata reaffirmed that its full-year guidance remained unchanged, with bookings expected to be back-end weighted and continued growth in its DI business.
At 0935 BST, Cirata shares were down 9.22% at 19.2p.
Reporting by Josh White for Sharecast.com.
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