CCS - Crossword Cybersecurity CEO reveals focus for the rest of 2023
(NewsDirect)
Crossword Cybersecurity PLC (AIM:CCS) CEOTom Ilube speaks to Thomas Warner from Proactive after the companyreleased its interim results for the six months to 30 June 2023. DrIlube gives an overview of the company's strong performance duringthe first half of the year, highlighting revenue growth to £1.9million, marking a 27% increase from the same period last year, withannual recurring revenue surging by 35% to £2.7 million. The companyalso improved its margins from 16% to 20%.
Dr. Ilube emphasises Crossword's focus on organic growth andits commitment to working closely with key accounts. Addressing theimpact of generative AI on cybersecurity, he revealed that Crosswordis actively exploring how AI can be integrated into their products,especially in supply chain and network monitoring areas.
Hereveals that as the company moves forward, the primary challenge isconverting their sales pipeline into closed contracts. "Thechallenge now in the back half of the year is taking that pipeline andconverting it into closed deals, closed contracts with clients... sothat's where all the energy is going."
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