Inactive Instrument

OSIM TECH

Equities

OSI

GB00BZ58DH10

Osirium Technologies expects higher annual revenue

January 09, 2023 at 09:52 am

Osirium Technologies PLC - UK-based cybersecurity firm - Expects to report bookings and revenue for 2022 of at least GBP3.0 million and GBP1.9 million, respectively. These are up from GBP1.6 million and GBP1.4 million in 2021 and are in line with recently updated market expectations. Osirium's annual recurring revenue for December is GBP1.8 million, an increase of 28% over GBP1.4 million a year earlier.

Cash balance amounts to GBP1.1 million as at December 31, following a GBP1.5 million equity raise in November. Osirium's pretax loss widened to GBP1.7 million in the first half of 2022 from GBP1.6 million in 2021.

Chief Executive Officer Stuart McGregor says: "2022 was another year of progress against our financial and strategic objectives, in which we have succeeded in growing our average contract value and securing more multi-year contracts, which provide a good visibility of revenue for future years and a greater opportunity for up-selling and cross-selling our products and services."

McGregor took over as CEO on January 1, having been sales director.

Current stock price: 3.47 pence, down 13% on Monday afternoon in London

12-month change: down 76%

By Xindi Wei, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about OSIM TECH

Osirium Technologies Delists in London Amid SailPoint Technologies UK’s Takeover	23-10-31	MT
Osirium Technologies shares suspended as takeover completes	23-10-30	AN
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Sailpoint Technologies Uk Ltd completed the acquisition of Osirium Technologies PLC (AIM : OSI) from Group of shareholders.	23-10-29	CI
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Osirium Shareholders Approve Proposed GBP3 Million Takeover by SailPoint	23-10-12	MT
Osirium Technologies revenue rises; targets new contract wins	23-09-07	AN
Earnings Flash (OSI.L) OSIRIUM TECHNOLOGIES Reports H1 Revenue GBP1.1M	23-09-07	MT
Osirium Technologies PLC Reports Earnings Results for the Half Year Ended June 30, 2023	23-09-07	CI
FTSE 100 Ends Higher, Helped by Hopes of US Rate Pause	23-08-30	DJ
Stocks up as soft US data lifts hope of Fed pause	23-08-30	AN
SailPoint Technologies to Acquire Osirium Technologies for GBP3 Million	23-08-30	MT
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Sailpoint Technologies Uk Ltd entered into a scheme of arrangement to acquire Osirium Technologies PLC (AIM : OSI) for £2.87 million.	23-08-29	CI
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Company Profile

Osirium Technologies plc is a cybersecurity software provider. The Company delivers Privileged Access Management (PAM), Privileged Endpoint Management (PEM) and Osirium Automation solutions. It operates through the sale of software subscriptions and consultancy services segment. Its products can be deployed in the cloud or on-premises to protect critical IT assets, infrastructure and devices by preventing targeted cyber-attacks from directly accessing privileged accounts, removing unnecessary access and powers of privileged account users, deterring legitimate Privileged Account users from abusing their roles and containing the effects of a breach if one does happen. Its PEM solution balances security and productivity by removing risky local administrator rights from users while at the same time allowing escalated privileges for specific applications. It serves various industries, including education, finance, government and defense, healthcare, industrial control system and others.

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