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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.£20.4m
Last close150.50p
High / Low (52 weeks)169.5p / 96.5p
Stock market listingLN
Forecast net debt (£m)N/A
Forecast gearing ratio (%)N/A
TeamTechnology
SectorTechnology

Price performance

%1m3m12m
Actual(1.6)9.956.8
Relative *(2.6)1.350.1

* % Relative to local index

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Company news

Investment summary

Osirium reported FY17 revenues 5% ahead of our forecasts at £0.65m. Lower operating costs resulted in an EBITDA loss of €1.61m, versus our €1.90m forecast. As expected, FY17 bookings increased to €0.88m, 123% higher than the previous 12 months. Osirium signed up 16 new customers in FY17, to end the year with 30 customers. The company closed the year with a cash position of £1.0m; post year-end the company placed 3.145m shares at 134p per share to raise gross proceeds of £4.2m. We are currently reviewing our forecasts.

Last updated on 27/04/2018

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 26/04/2018

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 27/04/2018

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