Crimson Tide PLC (LON:TIDE) surged on Tuesday on a series of contract awards with the rail sector worth £600,000.
The AIM-listed firm is the creator and marketer of mpro5, an app for businesses that tracks staff, manages schedules and automatically compiles reports.
READ: Crimson Tide surges as it unveils series of rail contract wins
The tech company said two London stations managed by Network Rail have invested in the app to reduce the amount of paper used in workflows and incident audits.
Chiltern Railways has extended their contract after a year resulting in a “significant” increase in monthly subscriptions, while MTR Elizabeth Line has chosen mpro5 as its default workflow tool of choice.
“Within eighteen months of entering a sector, we are contracted to, or in discussions with, the majority of major players in the rail business in the UK,” said executive chairman Barrie Whipp.
“mpro5 has a very real opportunity of becoming an industry-standard tool, and from the feedback we are getting from our clients, it should be.”
Shares jumped 11% to 2.5p on Tuesday at the opening bell.