Shearwater Group (AIM:SWG), the cybersecurity, advisory and managed security services group, said on Wednesday that its Brookcourt Solutions division has secured a five-year contract extension and expansion worth approximately £25m with a major UK-based global telecoms provider.
The deal extends an existing relationship and covers the continued delivery of packet monitoring, forensic analysis and service assurance solutions across the customer's network infrastructure and its key strategic clients.
Approximately £12.5m of the total contract value will be recognised in the current financial year, FY26, reflecting the upfront delivery of software and support licences.
That contribution underpins the board's confidence in meeting market expectations for FY26 adjusted EBITDA, with revenue now expected to come in slightly ahead of the market forecast of £35.5m.
One timing quirk warrants attention: the first cash payment falls into early FY27, pushing period-end cash to approximately £5.6m, around 20% below the market's £7m net cash expectation, against £5.1m at the end of the prior period.
"This award reflects the strength of our technology solutions, the quality of our service delivery and the trusted partnership we have developed with the customer over many years," said Phil Higgins, Group Chief Executive Officer.
