- Kneat.com (TSX:KSI), a stock specializing in digitization and automated validation, has signed a three-year master services agreement with a multinational consumer food and drink producer
- Initial technology deployment will cover validation requirements for over 5,000 employees
- Kneat operates a digital validation platform for leading companies in highly regulated industries
- Kneat.com stock is up by 1.32 per cent trading at C$6.89 per share as of 9:39 am ET
Kneat.com (TSX:KSI), a stock specializing in digitization and automated validation, has signed a three-year master services agreement with a multinational consumer food and drink producer.
The deal will see Kneat digitize the client’s validation processes, beginning with equipment and computer system validation for a health sciences division with over 5,000 employees. Contingent on performance, there is potential for expansion to affiliate companies and business divisions.
According to Friday’s news release, Kneat has grown its presence among consumer goods companies in recent years thanks to its technology’s ability to mitigate brand risk and facilitate regulatory compliance.
Kneat.com’s income statements at a glance
Management has generated over 81x revenue growth from C$421,000 in 2017 to a record C$34.22 million in 2023, with the company having already set a new record through three quarters in 2024.
Revenue growth is paired with an over 13x increase in gross profitability from 2019 – Kneat’s first positive reading under the metric – to 2023.
Investors have shown high conviction in the company’s exponential growth story, bolstered by positive net income in Q3 2024, pushing the stock up by over 100 per cent year-over-year and by over 1,400 per cent since November 2016.
Leadership insights
“Today’s announcement highlights that life science applications for Kneat can be found outside traditional life sciences companies, as we bring another consumer products leader into the Kneat community,” Eddie Ryan, Kneat.com’s chief executive officer, said in a statement. “We are proud to be a part of this company’s world-class quality effort supporting their pursuit of health, wellness and nutrition for people around the world.”
About Kneat.com
Kneat operates a digital validation platform for leading companies in highly regulated industries, delivering independently verified up to 40 per cent reductions in documentation cycle times, up to 20 per cent faster speed to market and a higher compliance standard.
Kneat.com stock (TSX:KSI) is up by 1.32 per cent trading at C$6.89 per share as of 9:39 am ET.
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