Beaufort Securities said that this contract was won amidst stiff competition after completing a simulated ‘hacking week’ which further validates FLX’s product suite. This win improves the firm’s trevenue run-rate such that the FLX business should now break-even on an underlying EBITDA basis from March-18.
FLX are now looking forward to an especially strong Q4-FY18 from a cash flow perspective, as this new contract win and existing contract subscriptions are received. Net cash should be at least £0.2m at the year-end date, after capex, but the balance may be higher post advance customer payments.
Falanx Group Ltd, is a global intelligence and cyber defence provider working with blue chip and government clients. The Group listed on AIM in June 2013.