Cirata Q3 bookings flat YOY

Software firm Cirata said on Wednesday that bookings were flat year-on-year in Q3, leading it to reiterate full-year bookings guidance.

Cirata said Q3 bookings were $1.7m, unchanged on Q323, with the business mix driven by data integration growth, accounting for 82% of bookings and DevOps software accounting for 18% of bookings.

In total, the AIM-listed group inked 16 new contracts in the quarter, of which eight were DI, up from four in the same quarter a year earlier, while renewals secured in the quarter for DI included the Health Care Service Corporation for a value of $983,000, implementing DI for disaster recovery.

With the current pipeline and prospects in progress and for the remaining three months of the trading year, Cirata retained its FY24 bookings guidance of $13.0m-15.0m as, with strong and improved execution, the firm stated it remains "achievable although demanding".

"We believe we will continue to see improving levels of sales activity, both direct and through partners, as we trade through Q4 2024, and our Go-To-Market (GTM) strategy continues to mature," said Cirata.

"The board continues to believe that the current levels of lead generation and early-stage pipeline support the medium-term ambitions of the company.

As of 1115 BST, Cirata shares were down 2.35% at 28.0p.

Reporting by Iain Gilbert at Sharecast.com