Crossword Cybersecurity reiterated it expects revenue growth this year to accelerate to around 75% f19 Apr 2022 22:01
Crossword Cybersecurity reiterated it expects revenue growth this year to accelerate to around 75% following up a 33% rise in 2021.
Total sales in the year to end-December (including grants) were up 43% at £2.3mln, with the number of customers using its Rizikon risk assessment software production now above 500 with a target of more than 1,000 by the end of this year.
According to the UK Cyber Security Sectoral Analysis 2022, the UK remains the largest cyber security market in Europe with total revenue of £10.15bn or up 14% from last year's £8.9bn.
Crossword made three acquisitions last year and more are likely said chief executive Tom Ilube, who added he was “incredibly pleased” with the progress in 2021, highlighting the 56% growth in product and services revenue.
“We expanded our product portfolio with the addition of Identiproof, our services offering with the addition of Nightingale, and our geographical reach with the opening of our Oman office,” he added.
Losses in the year to December were 2.45mln (£2.27mln), with cash at the year-end of £3.4mln.