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Osirium Technologies

FY17 bookings on track

Flash note | Technology | 09 Jan 2018

Osirium has confirmed that FY17 bookings intake was in line with market expectations. The company has seen a steady flow of new customer wins as well as renewals from existing customers. The recent launch of its first freemium product, PxM Express, should support further customer acquisition through the course of FY18.

Osirium Technologies

Diverse customer base highlights the opportunity

Update | Technology | 27 Oct 2017

Osirium is making good progress in renewing contracts and signing new customers. We are initiating forecasts based on the assumption that the company will grow bookings at a rate of 63% in FY17, 50% in FY18 and 40% in FY19. We forecast that this will result in an EBITDA loss of GBP 1.9m in FY17 reducing to GBP 1.6m by FY19. We estimate that the current share price is factoring in longer-term bookings growth of 29% (average FY20-26) which, based on the company’s ‘land and expand’ strategy and focus on selling to the mid-market via distributors, appears achievable in our view.

Osirium Technologies

Positive bookings momentum

Update | Technology | 03 Oct 2017

Osirium reported strong growth in bookings in H117, signing up eight new blue-chip customers and renewing and expanding contracts with six existing customers. The company’s strategy to access the mid-market via the channel is well underway and should start to materially contribute to bookings from early next year. The cost base reflects recent investment in sales and marketing and R&D; with the core teams now in place the company is in a position to drive growth in both the enterprise and mid-market.

Osirium Technologies

Keeping your secrets

Initiation | Technology | 30 Aug 2017

Osirium Technologies’ software protects critical IT infrastructure from the unauthorised use of privileged IT accounts, bringing an innovative approach to the privileged access management (PAM) software market. Having established its credentials in the enterprise market, it is now seeking to expand into the mid-market where the simplicity of its technology makes it attractive. Bookings growth, new channel partners and new customers signed up will be the key metrics to track in the short to medium term.

Osirium Technologies

Building a UK cyber security brand

QuickView | Technology | 25 Jul 2017

Osirium's privileged access management software helps protect critical IT infrastructure from unauthorised use of privileged IT accounts, whether from hacking or internal threats. Since last year's IPO, Osirium has strengthened its sales & marketing and R&D teams, added a global channel-based route to the mid-market and further developed its product suite. It is now focused on growing its user base, while upselling to its existing customer base.

Osirium Technologies

Executive interview - Osirium Technologies

Edison TV: | Technology | 25 Jul 2017

David Guyatt, CEO of Osirium Technologies, introduces us to the business. He explains the security challenges that Osirium’s technology seeks to address, the growth of the privileged access management software market and how Osirium’s solutions are differentiated from incumbent providers. David highlights the key achievements since the IPO in April 2016, describes the company’s channel strategy, and outlines some of management’s key objectives for the coming year.