Netcall shares soared 27.6% to 82.9p in early morning trading on Friday, after the company reported a $19 million multi-year contract win for its Liberty platform with an unnamed S&P 500 international financial services firm with operations based across 120 countries.
Netcall confirmed an expected $19 million in revenue for the initial three-year cloud subscription, with the deal projected to generate similar margins to the company’s overall group margin.
The contract is set to provide a significant contribution to Netcall’s revenue and profits, with the board anticipating an adjusted EBITDA for FY 2023 to come in at significantly higher levels than its previous expectations.
The S&P 500 client reportedly selected Netcall’s low-code product, Liberty Create, along with its Liberty RPA offering, which were designed to build and deploy power business applications across its slate of international operations, in order to deliver optimal outcomes for customers and other stakeholders.
The new contract win follows a global framework agreement reported by the firm on 9 August 2021, and the launch of its initial applications going live in North America and Europe.
“This landmark contract demonstrates the quality of the Liberty platform and its ability to support the world’s largest companies in their digital transformation efforts,” said Netcall CEO Henrik Bang.
“Having successfully deployed initial applications in North America and Europe, the customer will now use Liberty low-code and RPA across its global operations.”
“As well as providing a significant increase in revenue and profits to the Group, the contract further strengthens Netcall’s presence in the financial services industry, marking another step forward in the evolution of the Company.”
