Tesserent adds 151 staff in FY2022

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Tesserent adds 151 staff in FY2022

Tesserent managed to add 151 staff, including cybersecurity talent, throughout the 2022 financial year to reach a total headcount of 459 at the end of June 2022.

The ASX-listed company credited its senior leadership team for being “a key differentiator” for attracting talent, with recent senior hires coming from competitors and other industry players.

“The business remains focused on recruiting and retaining key talent to continue to provide an outstanding level of customer service to our clients, whilst continuing to grow our coverage in all aspects of the Cyber 360 delivery to the market,” the announcement read.

Tesserent also reported its unaudited financial results for FY2022, with turnover (gross revenue from consulting and advisory services plus product sales) of $163 million, up 69 percent year over year, and EBITDA of $16.3 million, up 115 percent from last year.

The company cited contributions from both acquisitions and organic growth, which grew 64 percent and 25 percent, respectively, year over year.

EBITDA margin growth was at 10 percent, up from 7.8 percent in FY2021, crediting improved pricing and margin recovery on some contracts, as well as “enhanced” operating leverage.

Tesserent also reported growth in annual recurring revenue, with its proportion of total annual sales growing to 46 percent.

The company provided an update to its brand and business unit integrations, including the appointment of George Katavic as managing partner of Tesserent Federal to mark the completed integration of subsidiaries North, Claricent and Pearson.

In specific divisions, Rivium, now the integrated Security Data & Analytics Practice has doubled its consulting team during the period, and is also now operating at a turnover level close to three times more than before it was acquired by Tesserent in 2019.

Airloom, now the Security Strategy, Architecture & Engineering consulting services practice, achieved EBITDA growth of more than 1.6 times.

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