Lutterworth-based Intercede Group, a cybersecurity software company specialising in digital identities, has reported a dip in revenues and profits for what it described as a “resilient year against a difficult macroeconomic backdrop”.
The listed company has posted revenues of £17.2m for the year to 31 March 2026, down from £17.7m in 2025, while pre-tax profits went from £4.6m to £3.7m.
A statement signed off by chairman Royston Hoggarth hailed a “resilient year against a difficult macroeconomic backdrop”, with the shortfall reflecting “US Federal procurement delays”, driven by “heightened geopolitical uncertainty”.
He added that the underlying numbers “tell a stronger story”. Recurring revenues from support, maintenance and subscriptions for MyID reached £11.4m, 66 per cent of the total.
Subscription revenues grew 17.6 per cent to £2m, showing “evidence that our gradual shift to a subscription model is working”.
Post year-end contract orders and renewals of approximately $3.8m were announced 21 April 2026, on top of the circa $5.2m of renewals and new contract orders confirmed earlier that month.
“I would like to sincerely thank every colleague across the group,” said Hoggarth. “This year’s progress is a direct reflection of their dedication and professionalism, and I am grateful for the commitment they show each day.
“My thanks also go to our customers for their continued trust, our partners for their valued collaboration, and our shareholders for their patience and ongoing support.
“We are deepening our investment in product innovation and talent development – building leadership bench strength, expanding delivery capability for complex programmes, and cultivating a more geographically diversified sales pipeline. These are deliberate, long-term investments that position the group to scale with confidence as demand grows.
“With the foundations, as outlined above, in place, the structural drivers underpinning Intercede’s growth opportunities continue to strengthen. Cybersecurity regulation is intensifying across our core markets, demand for high-assurance credential management is accelerating, and the group’s product platform – mature, scalable and trusted by some of the most security-conscious organisations in the world – is well positioned to capture this increased demand.
“Given the strength of delivered contracts year to date, the company has started FY27 in line with the board’s expectations. The board views the outlook with confidence and believes the group is well placed to deliver sustainable, long-term growth.”