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Osirium Technologies PLC - Berkshire, England-based cybersecurity firm - Increases revenue slightly but annual loss widens. Pretax loss expands to £3.4 million in 2021 from £3.1 million the year before. ‘The losses of the group have increased slightly following the company emerging from the Covid-19 pandemic and expenditure levels returning to a more normal level,’ the firm explains.
Revenue increases slightly, by 2.8%, to £1.5 million from £1.4 million. However, administrative expenses rise faster, up 9.3% to £4.7 million from £4.3 million. ‘Osirium is not immune to the wider pressures on technology firms from wage inflation and staff churn,’ it says.
‘Looking ahead, the market for privileged security remains as promising as ever,’ Chief Executive Officer David Guyatt comments. However, firm believes it will need to raise additional capital during the second half of 2022.
Current stock price: 12.20 pence, down 19% on Thursday
12-month change: down 50%
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