FCS.L Regulatory News (FCS)

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

FALANX CYBER SECURITY LIMITED

("Falanx" or the "Company")

Trading Update

Falanx Cyber Security Limited (AIM: FCS), the global cyber security provider, is pleased to provide an update on trading for the year ended 31 March 2023 ("FY23"). 

Total revenues for FY23 are expected to be c.£3.8m (2022: c.£3.5m) representing organic growth of c.9% year on year. The Group experienced steady growth on PenTest revenues of 5% and it also saw strong growth in SOC monitoring revenues which grew by c.21% when compared to FY22. Total SOC order values (New Logo, Renewals, Uplifts & extensions) were up by 58% on FY22, reflecting the continual achievement of service excellence (with a strong Net Promoter Score of 80%+). This resulted in a growing volume of SOC clients through high annual renewal levels as well as growth in the estate coverage of individual clients.

The business has a healthy pipeline of business and has significantly lowered its operating cost base recently and expects to improve its financial performance in the next few months against a backdrop of further sales order growth so far in the first quarter of this financial year.

The Group will report its audited results prior to the end of September 2023.

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About Falanx

Falanx Cyber Security Limited is a cyber security services provider, offering enterprise-class offensive and defensive security solutions to Small and Medium-sized Enterprises (SMEs). For further information visit: www.falanxcyber.com