Rosslyn Data Technologies (AIM: RDT) has renewed three client contracts with extended durations that it says will underpin its current annual recurring revenue (ARR) expectations in future periods.
The big data specialist said the three contracts have a combined ARR of £0.9 million, a total value of around £1.5 million and will expire between September 2021 and June 2023.
The end clients are an international telecoms business, a world-renowned American university, and a UK government department, this morning’s statement detailed.
The group said these long-term commitments reflect increasing client confidence in Rosslyn and the durability of its products and services.
Shares in Rosslyn Data Technologies were trading 1.42% higher at 5.375p on Thursday.
Rosslyn also reiterated this morning that it will enter the 2021 financial year with anticipated ARR in excess of £6.0 million.
“We're pleased that these blue-chip clients are prepared to commit to Rosslyn for longer periods,” said Chief Executive Officer of Rosslyn Data Technologies, Roger Bullen.
He added, “This says a great deal about client confidence in Rosslyn, our products, support and staff, also to our ongoing commitment to maintain and improve our products.”
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