Intercede Group plc announced that the Group has secured the following new contract and associated licence order: that the Group has been awarded a professional services order to help deploy MyID Credential Management Solution (CMS) to the same large US Federal Agency; Purchase order received, via partners, of perpetual licences worth approximately $6.6 million; Associated annual Support and Maintenance of approximately $1.4 million; and This is the Group's single order. This order, with an aggregate value in excess of $8 million, with all the licence element of this contract being recognised in the Group's financial year ending 31 March 2024 ("FY24"), means that the Group now expects financial performance will be significantly ahead of market expectations for FY24. The Group wants to highlight that this contract is an exceptional order and deemed 'one-off' due to the large number of perpetual licences purchased which will be recognised in FY24.

This new customer contract was secured after a rigorous selection process, and work will commence immediately to replace the customer's existing, separate legacy platform with the Group's market leading MyID Credential Management Solution (CMS). The Group believes that this new relationship has the potential to develop further as the Group's solutions roll out across hundreds of locations.