Intercede secures $4.2M in new contracts and renewals in US, Asia, Middle East

Intercede has announced new contract wins and renewals worth at least $4.2 million in the third quarter of financial year 2026.

The deals include a $1.5 million licensing, associated support and maintenance order from a large U.S. Federal Government agency for Intercede’s flagship MyID CMS platform. The order builds on a recent deployment and will expand to cover additional authentication devices such as USB tokens and FIDO passkeys alongside PKI.

In Asia, Intercede secured a $630,000 license order from a systems integrator for a new government client, bundled with more than five years of support, development and professional services. The package also includes a five-year subscription for MyID SecureVault.

A separate $180,000 add-on license order was placed by another systems integrator for a government agency in the region, with two years of support and maintenance.

Renewals and service extensions also contributed significantly. The U.S. Department of State renewed its annual support and maintenance contract for G-IDMS, valued at $1.15 million, alongside a $220,000 professional services order for continued MyID CMS maintenance.

Additional deals include a two-year renewal worth $190,000 with an Asian government agency and a $300,000 professional services order to support a U.S. Army deployment in the Middle East.

“In the trading update of 9 October 25, I stated that we remain focused on converting pipeline opportunities as we move into the second half of FY26,” commented CEO Klaas van der Leest. “Whilst the market is still experiencing delays in awards, I am pleased with the performance of the Group and our ability to be in a position to announce a series of new contract orders together with major renewals from multiple regions.”

Intercede rolled out version 12.15 of its credential management system, MyID CMS, becoming one of the first platforms to support Enterprise Attestation under the FIDO authentication framework.

The August release is integrated with Yubico’s YubiKey offering organizations enhanced device control and auditability with the company’s Enterprise Attestation-enabled security keys. Enterprise Attestation allows IT teams to confirm the identity of each hardware authenticator before granting access to sensitive networks and applications.

Unlike standard FIDO deployments, which safeguard user privacy through anonymous attestation, the enterprise model reveals unique device identifiers — similar to serial numbers on PKI smart cards — so administrators can track, manage, or revoke any company-issued key.

Intercede Group Interim Results for H1 FY26

Intercede reported revenues of £8.2 million ($10.8 million), down 4 percent year-on-year, with net profit falling to £1.2 million from £1.7 million ($1.58 million from $2.24 million).

Operating profit declined to £0.9 million ($1.19 million) reflecting lower professional services revenue and continued investment in innovation. Despite this, the company remains strongly cash generative, ending the period with £17.8 million in cash ($23.54 million), up 10 percent from last year.

Revenue mix showed growth in software licence sales (£1.4m / $1.85m vs £0.87m / $1.15m) and recurring support and maintenance (£5.4m / $7.13m vs £4.9m / $6.47m), offset by a sharp drop in professional services (£1.4m / $1.85m vs £2.7m / $3.56m). Gross margin remained high at 95 percent, though net margin slipped to 15 percent.

Contract momentum included new and incremental orders across U.S. federal agencies, defence and aerospace, energy, and scientific institutions, with a clear strategic emphasis on transitioning towards subscription-based revenue. Notable deals included a five-year subscription licence order from a U.S. energy company and new deployments at U.S. government agencies.

Product innovation continued with upgrades to MyID CMS v12.15 and v12.16, adding enterprise passkey support, enhanced interoperability with Microsoft Entra ID, and biometric integration with YubiKey Bio. Updates to MyID MFA and MyID SecureVault introduced stronger access controls, breach password detection and secure biometric storage.

Operationally, Intercede delivered major client upgrades across high-assurance markets, maintained strong compliance with ISO and Cyber Essentials Plus standards, and improved customer satisfaction, achieving a Net Promoter Score of 58 (up from 55).

The Board said it remains confident of meeting full-year market forecasts, citing a geographically diversified pipeline and a solid foundation for growth in H2 FY26.

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