Tesserent has announced it has delivered a solid FY22 turnover of $166 million, EBITDA of $18.6 million, up 94%, and boosted organic growth by a 26%.
Organic growth of 26% follows continued integration of prior acquisitions and an improved FY22 operating and normalised EBITDA margin of 14.5% and 16.2%, respectively, up 3.3% and 2.0% on the prior year. Tesserent has also recorded a strong cash position of $14.3 million at year end.
Following recent news that the Albanese Government plans to overhaul the $1.7B 10-year cyber security strategy, Tesserent has confirmed it is the largest provider of cybersecurity services to the Federal Government. Tesserent Federal is working closely with over 102 Australian and New Zealand Federal and State Departments and Agencies.
Mr Kurt Hansen, CEO, Tesserent said, “Tesserent welcomes a renewed approach to improving the sovereign capabilities of Australia’s cyber defence and offensive activities. Cybersecurity in Australia is rapidly growing, driven by government agencies, large and mid-sized businesses. Tesserent is the only ASX-listed pure play full-service cybersecurity provider with more than 170 members of our 450 plus expert team of cybersecurity professionals holding Australian Government security clearance.”
“The Board and management team continue our strong focus on creating shareholder value by building on Tesserent’s position as Australia’s number one ASX-listed cybersecurity provider. We are turbocharging our people capabilities and developing our Cyber360 strategy to give us a scalable foundation as a major force in the Australian and New Zealand cyber industry.
“We continue to drive the company’s growth strategy, with a focus on organic growth through deeper and wider customer engagements and fostering innovation. We continue to integrate acquisitions and facilitate cross selling across the group. Additionally, we are building out high-value recurring annuity revenue streams via managing security operations and managing detection and response,” explains Mr Hansen.
