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KRM22 PLC on Monday reported the signing of two new customer contracts for its Limits Manager application, with a total value of £800,000.
The London-based technology and software investment company focused on risk management for capital markets said the contracts cover a two and three year period respectively, and was signed with two existing ‘major’ futures commission merchants.
Since the launch of the Limits Manager application in early 2022, KRM22 has achieved £1.6 million in annualised recurring revenue, via ten separate FCM customers.
The two new contract wins increase the firm’s ARR on Monday by £300,000 to a total of £7.3 million.
KRM22 noted this increase underpins its full-year revenue forecasts, and is in line with existing market consensus for £7.9 million in ARR by the end of 2025.
‘These new contract wins for Limits Manager demonstrate the continued demand for KRM22’s enhanced risk solutions. With ARR increasing to £7.3 million, we remain on track to achieve our end-of-year target and progress towards building a cash-generative, profitable business,’ said Chief Executive Officer Dan Carter.
Shares in KRM22 were up 3.8% at 26.98 pence each in London on Monday afternoon. The stock is up 42% over the past year.
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