Osirium Technologies (OSI)

Business description

UK-based Osirium Technologies designs and supplies subscription-based cyber security software. It has four products: privileged access management (PAM), privileged task management (PTM), privileged session management (PSM) and privileged behaviour management (PBM).

Stock data

Market cap.£17.1m
Last close164.00p
High / Low (52 weeks)169.5p / 93.0p
Stock market listingLN
Forecast net debt (£m)N/A
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual3.112.0(1.8)
Relative *5.012.0(10.4)

* % Relative to local index

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Company news

Osirium Technologies PLC taking on the world of Privileged Access Management

Thu, 12 Oct 2017 08:03:45 GMT

Osirium Technologies renews cyber security contracts with two customers

Fri, 20 Oct 2017 06:58:49 GMT

Osirium Technologies ready for the cyber threat

Tue, 17 Oct 2017 12:18:16 GMT

Osirium Technologies makes bright debut

Fri, 15 Apr 2016 07:36:47 GMT

Osirium Technologies Plc (OSI.L) Price Lingering Above the Cloud

Sun, 19 Nov 2017 05:37:30 GMT

Investment summary

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 £1.9m in FY17 reducing to £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.

Last updated on 27/10/2017

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2015A 0.3 (0.4) (0.8) (6.61) N/A N/A
2016A 0.5 (1.1) (1.7) (12.38) N/A N/A
2017E 0.6 (1.9) (2.6) (21.15) N/A N/A
2018E 1.0 (1.8) (2.7) (21.69) N/A N/A

Last updated on 27/10/2017

Latest research

Latest video

Executive interview - Osirium Technologies

Industry outlook

The market for PAM software was worth $690m in 2015 and is forecast to grow to $2.27bn by 2020 (source: Gartner), with demand driven by regulation, the shift to the cloud and adoption spreading to smaller organisations. The complexity of established solutions means fewer mid-market businesses use PAM software than enterprises, so this is a market ripe for development.

Last updated on 03/10/2017

Key management

David Guyatt, CEO
Rupert Hutton , CFO
Stephen Roberts , Marketing Director

Company address

8 Brewery Court
Theale, Berkshire
RG7 5AH
United Kingdom
44 1183 242 444
View website