Source: Sharecast
However, Cordel warned that "economic uncertainty", particularly in the USA, has led to protracted sales cycles and delayed revenues, impacting "normally strong" H2 revenues.
Cordel said that after reviewing the timing of likely near-term contract wins, it currently expects to report FY25 revenues in the range of £4.7m to £5.0m, up from £4.4m a year earlier.
Overall, Cordel said it has made "satisfactory trading progress", securing two existing contract expansions and five new customers in the course of FY25.
The AIM-listed group's closing cash position was expected to be stronger year-on-year, subject to normal cash collection performance in June 2025.
Chairman Ian Buddery, said: "Our recent breakthroughs in Multimodal Artificial Intelligence have accelerated the acceptance of our PTC solution by the rail industry and the board has confidence in the revenue growth this will deliver in FY26.
"We are frustrated by lower industry activity in the current second half but our team continues to push hard on every revenue opportunity that can be secured by the 30 June close."
As of 0830 BST, Cordel shares had sunk 18.77% to 6.60p.
Reporting by Iain Gilbert at Sharecast.com