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Crossword Cybersecurity's 2019 revenues to be in line with expectations

2019 saw the top-line rise by around 22% year-on-year and the company is confident it is poised for strong growth this year as well

Crossword Cybersecurity PLC -
Crossword's CEO, Tom Ilube

Crossword Cybersecurity PLC (LON:CCS) said revenues for 2019 are expected to come in at £1.3mln, in line with market expectations.

If achieved, the revenue figure would represent a 22% year-on-year increase, driven by a 51% increase from product and consulting revenue, reflecting Crossword’s shift from software development services.

Cash balances at the end of the year stood at £1.5mln.

Tom Ilube, the company’s chief executive officer, said Crossword’s Rizikon assurance risk product is in very strong position this year, with “multiple opportunities with our partners and directly, some of considerable size.”

"During 2019, the Rizikon pipeline continued to grow, and version 2, launched in September 2019, is a product capable of adding value to all companies, regardless of their size or industry. The partner agreements signed in 2019, potentially give thousands of customers access to Rizikon,” Ilube noted.

“Our staff numbers have increased by almost 40% in 2019, and along with the recent appointment of a very experienced group sales director strengthening the leadership team, gives us the power to deliver growth in 2020,” he added.

Quick facts: Crossword Cybersecurity PLC

Price: - -

Market: AIM
Market Cap: -


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