Intercede, the cybersecurity company, has announced the acquisition of two new orders and two contract renewals. These developments will play a crucial role in supporting the company’s revenue forecasts for the full year.
One of the significant achievements for Intercede is securing a new license order for its MyID credential management system product. This order comes from a well-established federal agency client. Additionally, the company has also received a new three-year license order for its MyID multifactor authentication product from a prominent global aluminum producer based in the Middle East.
In addition to the new orders, Intercede has successfully renewed two support and maintenance contracts. These contracts were secured with a U.S. defense and aerospace manufacturer and an agency within the U.S. Transport Department.
The total value of these orders and contracts exceeds $2 million. They not only reinforce the company’s revenue forecasts for the year ending March 31, 2024 but also establish a contracted revenue backlog for fiscal years 2025 and 2026. Moreover, these achievements further enhance Intercede’s recurring revenue performance indicators, demonstrating its financial stability and growth potential.
Intercede’s Chief Executive, Klaas van der Leest, expressed optimism about the company’s future prospects. “The pipeline continues to strengthen and develop in line with our expectations,” van der Leest stated.
In conclusion, Intercede’s recent successes position the company in a favorable market position and cultivate a promising outlook for its future growth.