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LONDON - Acuity RM Group plc (AIM: ACRM), a software provider specializing in governance, risk, and compliance (GRC) solutions, has issued a correction regarding its year-end financial update for the period ending December 31, 2024. The correction, released on February 5, 2025, amends the expected timing of cash receipts from debtors to January 2025 and clarifies the appointment date of David Rajakovich as Chief Executive to December 2024.
The company reported an increase in revenues to £2.1 million for the year, up from £1.4 million in the previous year. Cash and cash receipts as of December 31, 2024, totaled £1.3 million, consistent with the prior year. Forward contracted revenue stood at £3.4 million, an increase from £2.9 million in 2023. The sales pipeline was valued at £7.92 million, maintaining the level from December 31, 2023.
Angus Forrest, Chairman of Acuity RM Group, highlighted the year 2024 as a period of consolidation after the acquisition of Acuity Risk Management Ltd in 2023. He attributed the revenue growth to organic business expansion with existing customers and the acquisition of Rizikon. With Rajakovich at the helm, the company aims to accelerate growth in 2025, focusing on the burgeoning cybersecurity market.
Rajakovich, with a history of growing and selling software businesses, has initiated several strategic changes since his appointment. These include a heightened focus on the cybersecurity sector, lead generation improvements, the launch of a new website, and the integration of Rizikon’s features into the STREAM® platform.
The company’s STREAM® software platform offers comprehensive solutions for Cyber GRC, Cyber Risk Quantification, Continuous Controls Monitoring, and Cybersecurity Continuous Compliance Automation. Following the Rizikon acquisition, subscription renewals have been secured, and discussions are underway to expand the user base.
Investor presentations are scheduled for February to introduce Rajakovich’s plans for the business. The company expresses confidence in its refined sales strategy and product-market alignment, anticipating these efforts will drive future growth in a strong cybersecurity market.
This article is based on a press release statement from Acuity RM Group plc.
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