Osirium Technologies - FY21 in line

Osirium’s year-end trading update was in line with its announcement in November; FY21 revenue is likely to be at least £1.45m and bookings at least £1.6m. While customer numbers more than doubled in the year, lower average contract values mean that bookings were essentially flat year-on-year. As customer decision making returns to more normal levels, we forecast stronger bookings growth in FY22. This is supported by a higher level of the contract base due for renewal and the potential to sell more to the large number of customers won in FY21. We maintain our forecasts.