Rosslyn Data Technologies PLC (LON:RDT) said it has secured renewals for a number of 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 £900,000, a total value of around £1.5mln and will expire between September 2021 and June 2023.
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Rosslyn said the clients an international telecoms business, a world-renowned American university and a UK government department.
The group also reiterated that it will enter the 2021 financial year with an expected ARR of over £6mln, and that the contract renewals reflected “increasing client confidence” and the durability of its products and services.
"We're pleased that these blue-chip clients are prepared to commit to Rosslyn for longer periods. 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", said chief executive Roger Bullen.
The company's shares rose 1.4% to 5.4p in early trading on Thursday.