Cordel (LSE: CRDL), which provides SaaS-based rail inspection services using LiDAR (Light Distance and Ranging) technology, has been winning contracts in the US. It is also overhauling its management as it continues to build up revenues. Cordel could move into profit next year.
Cordel has won an important contract with Amtrak in the US. The six-and-a-half year contract is valued at $6.7m. There will be $1m recognised in 2022-23 and $2m in 2023-24, with the rest recognised in the remaining time of the contract.
The bid was won in competition with more established competitors and the tech...
