Intercede secures $3.8m of contract upsell, renewal orders

21st Apr 2026 15:10

(Sharecast News) - Intercede Group said on Monday that it has secured $3.8m of new contract upsell orders and a renewal, signalling improving order intake momentum at the start of its new financial year.

The AIM-traded company reported an upsell to an existing large US Federal Agency worth around $3.6m for new perpetual licences of its MyID credential management system, including support and maintenance.

It also secured a smaller upsell of around $0.1m from an existing UK government department for additional MyID licences and associated services, alongside a $0.1m renewal of support and maintenance for an existing deployment with a US Federal Agency.

Intercede said the orders were received via its partner network and follow earlier updates in March and April, which highlighted delays in procurement processes impacting 2026 revenues.

"As outlined in our updates on 17 March and 9 April, 2026 revenues were impacted by procurement delays rather than lost opportunities," said chief executive Klaas van der Leest.

"Today's update further reinforces our confidence that these opportunities were deferred, not lost, as our pipeline continues to convert.

"The scale of upsell activity with existing US federal and UK government customers is particularly encouraging, providing a strong start to 2027 and strengthening confidence in the group's ability to continue to deliver while remaining mindful of the current global environment."

At 1450 BST, shares in Intercede Group were up 15.3% at 101.46p.

Reporting by Josh White for Sharecast.com.

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