Cerillion (CER ), a provider of B2B digital monetisation and customer management solutions, announced a new £10m contract with an existing telecommunications customer operating in the EMEA region (Europe, Middle East and Africa).
The new contract will have a 10-year term. The customer will be upgrading its core BSS platform to Cerillion 23.1 and joining Cerillion's Evergreen Software Programme, which grants continuous access to Cerillion's latest product developments.
Louis Hall, CEO of Cerillion, commented:
"We are delighted to be deepening our relationship with this important customer. The company has chosen to broaden its take-up of our modules and services. These pre-integrated modules can be adopted together for a fully comprehensive solution or used individually for select functions. As this major new contract demonstrates, over time, we typically find that customers that have originally selected elements of our offering go on to adopt more modules, given the attractive commercial and operational benefits."
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The new £10m 10-year contract with an established EMEA-based telecom will support Cerillion's current market forecast. The telecom has been a Cerillion customer for the past 20 years, and has chosen to extend its software licence and support agreement to enable flexibility and future growth.
In its most recent final results for the year ended 30 September 2022, Cerillion reported revenues up 26% to a record £32.7m, driven by major new customer implementations and strong demand from existing customers, such as the one announced today.
Cerillion's backorder book reached a new high of £45.4m at year-end, with a new customer sales pipeline of £209m, up 43% year-on-year. Final dividend for the year was also up 28% to 9.1p/share.
Cerillion scored its largest ever contract last summer worth £15m, and the momentum continues into 2023 with today's £10m contract. The company has high revenue visibility, and is well-funded to maintain its growth trajectory in the telecom enterprise software sector.
Cerillion shares were up 2.24% on today's announcement. Shares are up 46% in the past year and 708% since April 2018.
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