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BATM signs up cyber partner

BATM Advanced Communications (LON: BVC) has signed a strategic partnership with a global technology group to market its cyber encryption technology to the civil commercial markets around the world. The partner will pay at least $2.1m over two years to develop a combined hardware and software product off. The share price jumped 11.8% to 18.5p and it is the best performer on the techMARK All-Share index.

The unnamed partner has exclusivity in some territories. Initial orders are likely to be in the first half of 2024 with larger orders after that.

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The global market for BATM’s cyber product is around €4bn annually. There have already been orders in government markets. Total orders between the end of 2022 and March 2025 were worth $35m.

Shore leaves its forecasts unchanged, but this deal takes the company into a new market. Pre-tax profit is expected to improve from $1.5m to $2.8m this year and then rise to $6.5m in 2025. That does not assume any contribution to revenues above the development contributions from the partner. Net cash is forecast to be $27m at the end of 2024.

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