D4T4 Solutions announces multi-year contract wins
By Josh White
Date: Wednesday 22 Dec 2021
(Sharecast News) - Data technology company D4T4 Solutions announced multi-year contract wins on Wednesday, which it said would contribute "significant revenue" to current-year results, and increase its key annual recurring revenue metric.
The AIM-traded firm said the wins included a multi-year contract extension and upsell to a US-based global top 10 financial services company, which was an existing Celebrus Customer Data Management (CDM) client.
It involved the new sale of both the Celebrus Customer Data Platform (CDP) and Celebrus Fraud Data Platform (FDP) products, representing the first sale of the group's FDP product.
The company said the commitment deepened the relationship with the "key" 1financial sector customer "significantly".
Additionally, a Europe-based global top 10 banking sector customer for Celebrus CDP renewed its licence and converted to a multi-year annual recurring revenue model.
The company said the client's decision was driven by the new features available in recent releases of the CDP product around identity and data activation.
Its board said the multi-year contract wins added more than £3m per annum to the group's annual recurring revenue, as well as over £9m to the current year's revenues.
Along with existing contracted second half annual recurring revenue and continued visibility of the pipeline for the rest of the financial year, the company said the new wins underpinned its confidence in achieving board expectations for the full year.
As it said in its half-year results on 1 December, customer and new partner responses to the June launch of the group's Celebrus FDP were "very positive", with a number of current customers and new prospects continuing their assessment and testing.
"These customer successes support our confidence that we will meet board expectations for the current year, and that we will also show a healthy uplift in annual recurring revenue for the year," said chief executive officer Bill Bruno.
"I'm proud of our team for securing the first sale of the Celebrus FDP that launched in June this year along with a significant new Celebrus CDP licence.
"This is a key first milestone and we continue to see the pipeline for and interest in our fraud capabilities grow in a space that is becoming increasingly important to our customers."
At 1539 GMT, shares in D4T4 Solutions were up 11.17% at 316.83p.
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