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Osirium Technologies PLC - UK-based cybersecurity firm - Expects to report bookings and revenue for 2022 of at least £3.0 million and £1.9 million, respectively. These are up from £1.6 million and £1.4 million in 2021 and are in line with recently updated market expectations. Osirium’s annual recurring revenue for December is £1.8 million, an increase of 28% over £1.4 million a year earlier.
Cash balance amounts to £1.1 million as at December 31, following a £1.5 million equity raise in November. Osirium’s pretax loss widened to £1.7 million in the first half of 2022 from £1.6 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
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