(Alliance News) - D4t4 Solutions PLC on Wednesday announced two contracts with a combined value of over USD6.0 million with a "top 10 global bank" and a yearly recurring revenue of USD600,000.
Meanwhile, the Middlesex, England-based data management platform company posted half-year results, with pretax loss widening due to surging costs.
D4t4 said pretax loss in the six months to September 30 widened to GBP1.1 million from GBP325,000 a year prior. Revenue increased 7.4% to GBP8.1 million from GBP7.6 million but cost of sales increased by 41% to GBP5.0 million from GBP3.5 million.
D4t4 however raised its dividend by 3.5% to 0.88 pence per share from 0.85p.
Annual recurring revenue surged 52% to GBP15.8 million from GBP10.4 million, partially due to two contract wins.
The contracts have a combined value of USD6.0 million, with a "top 10 global bank" which uses the customer data platform and the fraud data platform of D4t4's Celebrus solution. Further, it has an annual recurring revenue of USD600,000.
One contract is a three-year enterprise license agreement, which converts subsidiaries and divisions from perpetual licenses to term licenses. It "allows the bank to expand the platform to new markets easily, thereby increasing the annual recurring revenue," D4t4 said.
The second contract "is the upsell of a production license for Celebrus FDP to a different division within the bank for one of their brands. The bank will leverage this license for the brand on a pilot basis prior to an expected expansion of usage globally to relevant markets," D4t4 explained.
Looking ahead, the company noted its "highly visible" pipeline of opportunities, adding that it is confident in achieving full-year expectations for financial year 2023 ending March 31, and delivering further annual recurring revenue growth.
D4t4 Solutions PLC shares fell 4.0% to 243.00 pence each on Wednesday afternoon in London.
By Tom Budszus; tombudszus@alliancenews.com
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