Osirium Technologies PLC - Berkshire-based cybersecurity firm - Expects revenue for 2020 of at least GBP1.4 million, adding that deferred revenue of around GBP1.5 million as at December 31 gives strong visibility into 2021. On December 31, it has cash of GBP1.4 million. For comparison, revenue for 2019 was GBP1.2 million and deferred revenue as at December 31, 2019 was GBP1.4 million. Cash held was GBP3.9 million.
Looking ahead, Osirium says: "While acknowledging the ongoing uncertainty and disruption caused by Covid-19, the board is optimistic the momentum seen in the final quarter going into the new financial year will continue, and that the group will deliver another year of material progress in 2021."
Chief Executive David Guyatt adds: "As we enter 2021, I am encouraged by the strong pipeline of new opportunities we have in both the private sector and increasingly the public sector, and look forward to updating shareholders on further progress."
Current stock price: 22.20 pence
Year-to-date change: down 1.3%
By Ife Taiwo; ifetaiwo@alliancenews.com
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Osirium Tech (OSI)