Share price soars at software firm after £1m contract win

The share price at cybersecurity software firm Intercede has jumped to its highest rate for two and half years on the back of a £1m contract win.

At close of trading Wednesday (January 3) lunchtime, shares in the company were changing hands for 106p each – up almost 14% or over 13p on their opening price.

Lutterworth-based cybersecurity software company Intercede says it now expects its full-year 2024 results to be ahead of expectations after landing a US deal worth almost £1m.

The firm has been awarded a major licence order with associated support and maintenance for a new, unnamed client in the US intelligence community.

Klaas van der Leest, CEO, said: “We are particularly pleased to secure this order because it has potential to grow further and the fact that there is a subscription element associated with it.

“The order was contracted through the channel, again underpinning our go-to-market strategy. We have ended 2023 on a high and aim to continue with this momentum into the final quarter and FY25.”

Intercede’s current market forecast for the year ending 31 March 2024 is revenue of £18m and adjusted EBITDA of £5.2m.