- Intercede Group
- 09 April 2026 15:57:14
Source: Sharecast
The AIM-traded digital identity software provider said revenue for the year ended 31 March was expected to be about £17.2m, down 2.8% from £17.7m in 2025, or 0.5% lower on a constant currency basis.
It attributed the decline primarily to delayed procurement, particularly in the US, and customer deferrals linked to geopolitical uncertainty, including conflict in the Middle East.
Subscription revenue increased around 17.6% to £2.0m from £1.7m, contributing to recurring revenues from support, maintenance and subscriptions of around £11.4m, equivalent to around 66% of total revenue.
Intercede said that reflected continued progress in securing licence wins from new and existing customers, alongside low churn rates.
The company ended the year with gross cash balances of £20.0m, up from £18.7m, and remained debt free.
Alongside the trading update, Intercede announced contract renewals and new orders totalling $5.22m.
They included a $3.49m annual subscription renewal with a large US federal government client for its MyID CMS platform, covering the period from April 2026 to March 2027, as well as a series of smaller renewals and professional services contracts across US federal, defence, banking and telecoms customers.
“Whilst our revenues for 2026 were impacted by procurement delays and customer purchasing deferrals, what was important to the board was that these opportunities were not lost,” said chief executive Klaas van der Leest.
“Following our update on 17 March, the group has secured a number of contract renewals and new business wins.
“Furthermore, we are encouraged by customer engagement and the improvement in order intake momentum in the second half of 2026.
“As we enter the new financial year, the group is well placed to build on this momentum, while being mindful of the evolving global macroeconomic environment.”
At 1523 BST, shares in Intercede Group were up 7.69% at 84p.
Reporting by Josh White for Sharecast.com.
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