Osirium Technologies results fail to secure investor confidence

AIM-listed cloud cyber-security specialist Osirium Technologies (LON:OSI) has deepened its operating loss during the year ended 31st December despite a 48% improvement in revenues. This was in-line with management’s expectations as the company upped its investment in to sales, marketing and customer support.

CEO David Duyatt said: “We are pleased to report these final results and the Group continues to gain market share from new and existing customers in the UK and internationally. The Privileged Access Management (PAM) market is gaining pace and becoming increasingly mainstream amongst corporates.

“Our unique proposition to address security controls in today’s increasingly complex IT environment is accelerating our growth with new and existing customers. We are confident that there will be further progress as the Group maintains this momentum and further expands our market presence“.

Osirium’s share price dropped by 5.33% to 85.20p (as of 10:45 BST).

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