(Sharecast News) - Cybersecurity and IT automation software provider Osirium Technologies saw record bookings in the first quarter of its 2022 trading year, with the group witnessing continued growth in contract values and a return to pre-pandemic levels.
Osirium said new business momentum had been coupled with a majority of its new contracts being signed for three-year terms, providing improved visibility of earnings and greater potential for expanding licenses and services.
Customer wins continued to be strong in the NHS and wins with higher education establishments were also a key growth driver in the three months ended 31 December.
Five of the contracts secured in the first quarter were each at a larger value than any individual contract signed in 2021.
Chief executive David Guyatt said: "In 2022 we are witnessing the confluence of several favourable developments which we expect to impact the group positively over the short and long-term. We've seen increasing demand for our PAM IT security capabilities along with a return to pre-pandemic contract values.
"I am delighted with our performance to date and, given this new business momentum coupled with continued contract renewals, the board has increasing confidence in the full year."
As of 0925 BST, Osirium shares had shot up 22.82% to 7.83p.
Osirium Tech (OSI)