Checkit Regulatory News (CKT)

12 June 2024

Checkit plc

("Checkit" or the "Group")

Contract Wins

Checkit (AIM: CKT), the automated monitoring platform for operational leaders, is pleased to announce a significant expansion with an existing US customer and a first customer for the recently launched AI module.

Contract Wins

The Group announces a significant expansion with Octaphama Plasma in the United States worth c.£718,000 over three years.

Octapharma will be expanding their use of the Checkit platform by integrating TTMUs (Tactical Temperature Monitoring Units) into their existing monitoring system, further protecting their operational data and mission-critical inventory. By leveraging the TTMUs offline data logging capabilities, Octapharma will have complete data redundancy across their entire network of plasma donation centres in the US. The investment highlights Octapharma's ongoing commitment to ensuring the safety and security of their plasma and operational data.

The Group is also pleased to announce a first signed contract for the recently launched Asset Intelligence product module, which applies advanced analytics and Machine Learning to IoT data which will help enhance customer sustainability, reduce costs, and improve revenue.

Commenting on the news Kit Kyte, Chief Executive Officer, said: "This latest win continues to validate our 'land and expand' strategy and demonstrates continued momentum in the US, a strategic priority for the business. Forward-thinking leaders like Octapharma understand why it's so critical to execute an operational data strategy, and we appreciate their trust and partnership. I am also thrilled that we have secured our first customer for the recently launched Asset Intelligence module, which marks the start of an exciting chapter in the evolution of our offering and our integrated end-to-end platform."

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