Osirium Technologies - Trimming FY21 expectations
Osirium has signed up many more new customers year-to-date compared with FY20, but lower average contract values mean that bookings and revenue for FY21 are likely to be flat year-on-year. We have revised down our FY21 forecasts accordingly. We continue to expect stronger bookings growth in FY22 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.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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