After warning on revenue in February (see Intercede warns, blames demand for rental model), Intercede, the identify and credential management software provider, has pulled out all the stops to get revenues for the year ended 31 March ‘ahead of the prior year’. It had previously warned that revenue would be similar to last year’s £6.9m (that was 11% up on the previous year). It said full year profits are in line with expectations, and cash balances are up at £7m as at 31 March, vs. £6m at the same time last year.
Intercede is in many of the right places - cyber-security and mobile device management – so it should be seeing better growth. It is early days, but things do look more encouraging for next year, following its investment in four new 'identity as a service' opportunities with partners. Only one of these services apparently contributed to the current year, but all will provide recurring revenues in future periods. The broader challenge for Intercede is how to handle ever increasing demand for SaaS-type rental services, and the deflationary impact this has on its business. Not an easy square to circle.