leadf
logo-loader
viewRosslyn Data Technologies PLC

Rosslyn Data Technologies renews three contracts in boost to recurring revenues

The renewing clients are an international telecoms business, a world-renowned American university and a UK government department

Rosslyn Data Technologies PLC - Rosslyn Data Technologies renews three contracts in boost to recurring revenues

Rosslyn Data Technologies PLC (LON:RDT) said it has secured renewals for a number of client contracts with extended durations that it says will underpin its current annual recurring revenue (ARR) expectations in future periods.

The big data specialist said the three contracts have a combined ARR of £900,000, a total value of around £1.5mln and will expire between September 2021 and June 2023.

READ: Rosslyn Data strengthens financial position with £7.3mln fundraise

Rosslyn said the clients an international telecoms business, a world-renowned American university and a UK government department.

The group also reiterated that it will enter the 2021 financial year with an expected ARR of over £6mln, and that the contract renewals reflected “increasing client confidence” and the durability of its products and services.

"We're pleased that these blue-chip clients are prepared to commit to Rosslyn for longer periods. This says a great deal about client confidence in Rosslyn, our products, support and staff, also to our ongoing commitment to maintain and improve our products", said chief executive Roger Bullen.

The company's shares rose 1.4% to 5.4p in early trading on Thursday.

Quick facts: Rosslyn Data Technologies PLC

Price: 5.55 GBX

AIM:RDT
Market: AIM
Market Cap: £18.86 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Rosslyn Data Technologies PLC named herein, including the promotion by the Company of Rosslyn Data Technologies PLC in any Content on the Site,...

FOR OUR FULL DISCLAIMER CLICK HERE

FansUnite Entertainment pleased Canada taking a look at allowing single...

FansUnite Entertainment (CSE: FANS- OTCQB: FUNFF) President Darius Eghdami joined Steve Darling from Proactive with news the company is hailing the Canadian government’s decision to introduce legislation that would legalize single-event sports betting in Canada. Eghdami talks about why that...

1 day, 9 hours ago