(Alliance News) - Shares rose in D4T4 Solutions PLC on Wednesday after announcing the awarding of multi-year contracts for its Celebrus suite of products that will significantly contribute to current year results.
Shares Middlesex, England-based firm were up 13% at 322.00 pence each on Wednesday morning in London.
The data solutions provider said that these contract wins included a multi-year contract expansion and upsell to a US-based global top ten financial services company that is already a customer.
D4T4 sold its Celebrus Customer Data Platform and its Celebrus Fraud Data Platform products to top ten financial services company.
The data solutions firm also added that this represented the first sale of the Celebrus Fraud Data Platform product.
Furthermore, a Europe-based global top ten banking sector customer for Celebrus Customer Data Platform renewed its license and converted to a multi-year annual recurring revenue model.
Together, these multi-year contract wins add over GBP3 million per annum to the firm's annual recurring revenue as well as GBP9 million to the company's current year revenue.
Along with second half annual recurring revenue rate and continued good visibility, the D4T4 is confident that these new contract wins will enable it to achieve board expectations for the year.
"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. 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 license," Chief Executive Bill Bruno commented.
He added: "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."
In the previous year, D4T4 generated a pretax profit of GBP4.4 million on revenue of GBP21.7 million.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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