Business
5 Year c.£25m contract extension with global Telco
Shearwater Group plc announced a significant five-year contract expansion valued at approximately £25m with a leading global telecommunications provider, extending its relationship through Brookcourt Solutions. This agreement, which will see the continued delivery of packet monitoring and forensic analysis solutions, is expected to generate c.£25m in revenue over its term, with c.£12.5m recognised in FY26, supporting market expectations for FY26 EBITDA and slightly exceeding revenue forecasts. However, the first payment is anticipated in early FY27, leading to an expected cash balance of c.£5.6m at the period end, approximately 20% below market expectations. Disclaimer*
About this update from Shearwater Group Plc
01 July 2026 This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (as amended), which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018. Upon publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain. Shearwater Group plc ("Shearwater", or the "Group") Five Year c.£25m contract extension and expansion with global Telco Shearwater Group plc, the cybersecurity, advisory, and managed security services group, is pleased to announce that Brookcourt Solutions, part of the Shearwater Group plc, has secured a five-year contract expansion valued at approximately £25m with a leading UK-based global telecommunications provider. The agreement extends and expands the long-standing relationship between Brookcourt and its valued customer and will see the continued delivery of the Company's packet monitoring, forensic analysis and service assurance solution across the provider's network infrastructure and key strategic clients. The contract strengthens Brookcourt's position as a trusted provider of advanced network visibility and service assurance solutions, supporting the customer's evolving requirements for operational performance, network intelligence and forensic investigation capabilities. The contract is expected to generate c.£25m revenue across the five-year term, providing significant revenue visibility into future years. Approximately £12.5m of the total contract value will be recognised in FY26, reflecting the delivery of initial software and support licenses, which underpins the Board's confidence in achieving market expectations* for FY26 EBITDA, with revenue expected to be slightly ahead of expectations. The first payment in respect of this contract expansion will be collected in early FY27. Accordingly, cash at the period end is expected to be c £5.6m, around 20% below market expectations, due to the receipt falling into the next financial year. Cash at the end of the prior financial period was £5.1m. Phil Higgins, Group Chief Executive Officer of Shearwater Group plc, commented: "We are delighted to have secured this significant five-year expansion agreement with one of the world's leading telecommunications providers...
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