Beeks Financial Cloud secures three additional contracts

(Sharecast News) - Beeks Financial Cloud said on Wednesday that it had secured three additional contracts across its analytics, Proximity Cloud and Private Cloud offerings, with a combined total contract value of about £1.7m.

The AIM-traded cloud computing and connectivity provider for financial markets said the wins reflected continued commercial momentum across its product portfolio, including a second deployment for its recently launched Market Edge Intelligence AI-powered analytics offering.

The contracts include a 34-month software deal for Beeks Analytics and Market Edge Intelligence with an existing global financial services customer, for deployment in London.

The contract has a total value of about £0.5m and includes opportunities for further expansion.

Beeks also won a three-year Proximity Cloud contract with a new global technology customer, worth about £0.6m, again with scope for future expansion.

A further three-year Private Cloud contract was signed with a longstanding strategic partner, with a total contract value of about $0.8m, or £0.6m.

The company said revenue recognition from the analytics and Proximity Cloud contracts was expected to begin this month, supporting the board's expectations for the current financial year.

Revenue from the Private Cloud contract is expected to start in the 2027 financial year.

Chief executive officer Gordon McArthur said the wins demonstrated continued demand across Beeks' product range and reflected the breadth of opportunities across infrastructure, connectivity, analytics and AI-powered insight.

"We are particularly encouraged by the early adoption of Market Edge Intelligence® following its launch earlier this year," he said.

"The contracts further strengthen our revenue visibility across each of our offerings."

At 1159 BST, shares in Beeks Financial Cloud Group were up 11.98% at 213.87p.

Reporting by Josh White for Sharecast.com.

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