Osirium Technologies - FY21 in line
Osirium’s year-end trading update was in line with its announcement in November; FY21 revenue is likely to be at least £1.45m and bookings at least £1.6m. While customer numbers more than doubled in the year, lower average contract values mean that bookings were essentially flat year-on-year. As customer decision making returns to more normal levels, we forecast stronger bookings growth in FY22. This is supported by a higher level of the contract base due for renewal and the potential to sell more to the large number of customers won in FY21. We maintain our forecasts.Osirium Technologies and its subsidiary are engaged as a U.K. based cyber-security software provider that protects critical information technology ("IT") assets, infrastructures and devices by preventing targeted cyber-attacks from directly accessing Privileged Accounts, removing unnecessary access and powers of Privileged Account users, deterring legitimate Privileged Account users from abusing their roles and containing the effects of a breach if one does happen.
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