Osirium Technologies expects 2020 bookings to be slightly ahead of expectations

Cybersecurity software group Osirium Technologies expects 2020 bookings to be at least £1.55m, slightly ahead of current consensus market expectations.

Osirium said on Friday that full-year revenues were anticipated to be at least £1.4m, in line with market expectations, with deferred revenue of circa £1.5m providing the firm with "strong visibility" into 2021 and beyond.

The AIM-listed firm highlighted that it had delivered a record first quarter for bookings and now expects to report a record fourth quarter, with a slowdown in the second and third quarters due to the Covid-19 pandemic delaying customer buying decisions.

Osirium also stated it was optimistic that the momentum seen in the final quarter would continue into the new year and that it would deliver "another year of material progress" in 2021.

Chief executive David Guyatt said: "The trading environment was challenging but, regardless, we were able to secure a number of landmark deals, continue to improve our product range, and lay the foundations for future growth through the expansion of our international partner network.

"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."

As of 0845 GMT, Osirium shares were up 1.35% to 22.50p.