- NTG Clarity Networks (TSXV:NCI) is announcing C$14.6 million in new purchase orders and contracts from existing customers in the financial, IT and telecom sectors
- Contingent on Q4 2024 results, the company will have been profitable over the past four fiscal years
- NTG Clarity Networks, est. 1992, provides software, networking and IT solutions to large enterprises to expedite their digital transformation
- NTG Clarity stock has added 810 per cent year-over-year and 1,300 per cent since 2020
NTG Clarity Networks (TSXV:NCI) is announcing C$14.6 million in new purchase orders and contracts from existing customers in the financial, IT and telecom sectors. Here’s a breakdown:
- C$11.6 million in renewals to provide offshore and onsite software development services.
- C$2.2M in new work and renewals for similar services expected to be billed against previously announced contracts, including a C$53 million three-year contract announced in August 2024.
- C$800,000 to provide licensing, customization and support to installed NTGapps platforms, which offer customizable web and mobile application templates for businesses to transition into the digital age.
According to Thursday’s news release, NTG’s backlog of unbilled purchase orders and contracts now stands at C$105 million, “reinforcing the company’s strong position for sustained profitable growth” as it looks to capitalize on digitization initiatives within Saudi Arabia’s Vision 2030 plan.
NTG was net income profitable from 2021 to 2023 while growing revenue by 2.33 times from C$11.9 million to C$27.73 million. The company is on track to set new four-year records for both metrics in 2024.
Leadership insights
“We continue to see our clients renew and expand their contracts – clear evidence of their deep trust in NTG and the recognition of the value we provide as a part of their long-term digital strategy,” Adam Zaghloul, NTG Clarity Networks’ vice president of strategy and planning, said in a statement. “Our unwavering commitment to high-quality service at competitive prices continues to exceed expectations, driving both retention and expansion. By consistently adapting to our clients’ evolving needs, NTG is not only strengthening existing relationships but also attracting new clients and securing major contract wins, accelerating our growth.”
About NTG Clarity Networks
NTG Clarity Networks, est. 1992, provides software, networking and IT solutions to large enterprises to expedite their digital transformation. The company is primarily active in North America and the Middle East.
NTG Clarity stock (TSXV:NCI) last traded at C$1.82 per share. The stock has added 810 per cent year-over-year and 1,300 per cent since 2020.
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