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Smarttech247 Group PLC on Monday said its loss narrowed during the first half of its current financial year, as new contract wins look set to further increase annual recurring revenue. The London-based cybersecurity services said its pretax loss narrowed to €383,000 during the six months that ended January 31, from a €601,000 loss the year before. Revenue grew 20% to €6.5 million from €5.4 million, while cost of sales increased 31% to €4.2 million from €3.2 million. Annual recurring revenue at January 31 was €9.4 million, up 32% from the July 31, 2024. The firm expects ARR to increase further during the second half of its current financial year, on the back of new contract wins post period-end. ‘As the cybersecurity landscape continues to evolve and we see new threats daily, we are adapting our product offerings and technology to ensure we can meet our clients’ vital cybersecurity needs,’ said Chief Executive Officer Raluca Saceanu. ‘We are also actively progressing the delivery of our new products and continue to build traction with international customers as evidenced by our growing sales pipeline. Importantly, we are also well funded to support our expansion strategy and the outlook for the remainder of the year is encouraging.’ Shares in Smarttech247 were up 7.5% at 6.99 pence each in London on Monday afternoon. The stock remains down 65% over the past year. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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