Cirata Reports Q3 ACV of $5.2 Million as Outlook Remains Unchanged
Cirata plc (LSE:CRTA) published its trading update for the third quarter ending September 30, 2026. The data orchestration technology business recorded closing annualized contract value of $5.2 million, slightly down from $5.3 million in the prior quarter. Quarterly billings reached $1.3 million, while contracted future invoicing stood at $4.4 million. Net new annualized contract value for the quarter was zero, impacted by two contract expirations due to one-off customer migrations.
Management maintained its full-year outlook, noting that financial performance in the second half of the year depends heavily on contract closings in the fourth quarter. Cirata strengthened its balance sheet during the period by completing an oversubscribed capital raise in July 2026, securing £5.4 million in gross proceeds. At quarter end, total cash and short-term trade receivables totaled $7.3 million, including $6.2 million in cash. Cash overheads for the quarter were $3.2 million, keeping cost levels in line with the expected annual range of $12 million to $13 million.
Looking ahead, Chief Executive Officer Stephen Kelly stated that the company is focusing on converting larger enterprise sales opportunities. Product progress includes moving its Cirata Symphony deployment to a live production environment with a major UK retailer, advancing a proof of concept with a large US bank, and providing the offering to IBM customers under an OEM agreement.
Key points
- Cirata plc (LSE:CRTA) reported closing annualized contract value of $5.2 million for Q3 FY26, down $0.1 million from Q2 FY26.
- Quarterly billings reached $1.3 million, with remaining contracted billings at $4.4 million and zero net new ACV in the quarter.
- Total cash and short-term receivables stood at $7.3 million as of September 30, 2026, supported by a July fundraise of £5.4 million.
- Quarterly cash overheads were $3.2 million, consistent with the company's full-year guidance range of $12 million to $13 million.
- Full-year guidance remains unchanged as management targets enterprise deal conversion in the fourth quarter.
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What were Cirata plc's Q3 FY26 financial highlights?
Cirata plc generated $1.3 million in billings and closed Q3 FY26 with $5.2 million in annualized contract value and $4.4 million in contracted future invoicing.
What is Cirata's current cash balance?
As of September 30, 2026, Cirata held $6.2 million in cash and $1.1 million in short-term trade receivables, bringing total liquid resources to $7.3 million.
Did Cirata change its full-year outlook for FY26?
No, Cirata left its full-year guidance unchanged, stating that second-half results are heavily weighted toward closing enterprise opportunities in Q4.