Intercede Share Discussion Threads

[ianhamo] 08/4/2024 18:30

When the record contract was announced, klass did say that it was a one-off contract. I guess we will have to wait until we get updated guidance for FY25 to see where the share price heads.

[marktime1231] 08/4/2024 12:54

Confirmation from Intercede that FY24 revenues will exceed £20M, up from the recently raised expectation of £19.5M+. They are too shy to say what this means in terms of profit, but it looks like a tenfold increase to at least £6M.

Noting that cash in the bank is up £9M over the year to £17M+ now, £2M has been added since Christmas. The feeling how on earth can this sort of performance be sustained is reflected in the muted share price response. Again the update is about trading and nothing about pipeline.

Growth through acquisition then, but they need to buy actual sustainable profit not just potential for it. My hope that a larger US systems house might take out IGP at 150p-ish is receding.

[blackhorse23] 08/4/2024 11:39

Added some healthcare stock APH [LSE]

[ianhamo] 04/4/2024 14:23

Denial of access? DDOS

[marktime1231] 04/4/2024 14:17

A broader product and service offering around authentication and technology access control with the emphasis on recurring income, yes. Or some technology or fundamental data which boosts IGPs offerings.

SWG paid I think around £22M six and seven years ago for what is now the merged SecurEnvoy - Geolang business, rather a lot for a £3M turnover and 12% margin.

Something which solves the ongoing cyber disruption apparently being caused on a daily basis by organised and sponsored bad actors, which even Microsoft has been criticised for being vulnerable to, is the holy grail?

[ianhamo] 03/4/2024 16:51

I just have hunch they may be interested in SWG's Geolang/Secure Envoy (software division). Their software is Access Control, so would be a good fit if it doesn't overlap too much. The software only accounts for 11 percent of their revenue. They announced a poor trading update today, so may be looking at selling part of the recently restructured group. AIMHO

[marktime1231] 03/4/2024 16:22

Who or what would you buy, if you are already bossing it? A US based operation perhaps, but expensive?

What experience does Intercede have integrating another substantial business?

[ianhamo] 03/4/2024 07:19

Interesting that Klaas presented a short video on their FB page, talking about growth via acquisition. I wonder if there is news due soon?

[wjccghcc] 02/4/2024 12:52

I thought the most important item was the pricing agreement for the $3.45mm US renewal. I was hoping for a bit more of an uplift (it's been $3.4mm for 3 years) but the fact that they've agreed pricing for the next 5 years (base + incremental 4 years) means it's extremely unlikely to be cancelled. Given it's 15-20% of their annual revenues, it underpins their recurring revenues going forward and means forecast revenues are likely conservative for the next 2 years (barring another COVID getting in the way).

I also note the Department of Defence has appeared on their website as a client. Any guesses who the $8mm contract was with :-)

There are > 2mm members of the US Armed Forces. As MyID CMS now incorporates MFA capabilities, I wouldn't bet against it being used further down the security pyramid over time. No wonder they say:

"The Group believes that this new relationship has the potential to develop further as the Group's solutions roll out across hundreds of locations."

[marktime1231] 02/4/2024 12:42

A muted reaction to more good news today, hard to keep surpassing yourself isn't it, these contracts underpinning good performance rather than adding to it.

Encouraging that Intercede is winning business outside the US, on smaller scale.

As well as announcing wins it might be useful to know the quantum of the pipeline in terms of new business and renewals, qualified in to probable and possible. It would help us to judge prospects and sustainability.

[ianhamo] 24/3/2024 15:11

It would be interesting to know what this "test environment" may lead to?I like the way the share price held after last week's spike and didn't fall back due to profit taking, makes me think there may be more good news on the way.

[smithie6] 24/3/2024 12:10

I don't understand it either.

Perhaps someone can ask the company & then post the company's reply.

[rambutan2] 22/3/2024 20:40

Happy days! But I must admit that I'm not sure exactly what "an order for a new licence test environment for an existing US Federal Agency" is/means. Haven't come across that string of words before, as far as I can remember!?

[ianhamo] 22/3/2024 12:14

FY25/26 more than likely to be upgraded when MyId MFA product starts to gain traction.

[marktime1231] 22/3/2024 11:35

Well done again IGP a £6M+ pbt is in the bag. And the order book is stuffed full, even if they keep warning us the good times cannot keep rolling they seem to be doing so. A nice share price jump but still only valued by the market at £65M which is daft, I think £15M or more of that is in cash.

[ianhamo] 16/3/2024 14:02

Write up in investors Chronicle this week! Hopefully give the share price a boost!

[ianhamo] 19/2/2024 08:20

https://share.transistor.fm/s/e31c553d

[ianhamo] 12/2/2024 13:28

MM's flushing out weak holders?

[aaronirish] 29/1/2024 20:40

perhaps folks are reading the "in line with expectations" part of the release. Like all gains, sustaining them raises the bar in terms of what baseline looks like going forward and some of this is going into the 2025 pot.

[ianhamo] 29/1/2024 20:01

A few months back, orders for 600k would've seen the share price jump 10% or more

[marktime1231] 29/1/2024 16:34

More incremental good news, well it has been nearly 4 weeks after all, in diverse markets. Come on then let's see 130p.

[smithie6] 29/1/2024 09:52

Nice. Additional sales/contracts.
Including one that might lead to a federal contract in the USA, which we know have produced some big contracts in the past. Fingers crossed.

And expecting that these contracts will grow.

[wjccghcc] 17/1/2024 21:39

No. The year-end one is usually in April.

[ianhamo] 17/1/2024 15:59

Are we due a trading update around now?