Crossword Cybersecurity CEO reveals focus for the rest of 2023
London, UK
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September 29, 2023 03:00 AM Eastern Daylight Time
Crossword Cybersecurity PLC (AIM:CCS) CEO Tom Ilube speaks to Thomas Warner from Proactive after the company released its interim results for the six months to 30 June 2023. Dr Ilube gives an overview of the company's strong performance during the first half of the year, highlighting revenue growth to £1.9 million, marking a 27% increase from the same period last year, with annual recurring revenue surging by 35% to £2.7 million. The company also improved its margins from 16% to 20%.
Dr. Ilube emphasises Crossword's focus on organic growth and its commitment to working closely with key accounts. Addressing the impact of generative AI on cybersecurity, he revealed that Crossword is actively exploring how AI can be integrated into their products, especially in supply chain and network monitoring areas.
He reveals that as the company moves forward, the primary challenge is converting their sales pipeline into closed contracts. "The challenge now in the back half of the year is taking that pipeline and converting it into closed deals, closed contracts with clients... so that's where all the energy is going."
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