This contract is massively bigger than their previous largest contract.
Last contract was $2m to $2.5m over five years or $400k to $500k a year in rev.
This one is $6.4m over seven years or on average $915k a year paid monthly.
So the new largest contract is about double the previous on the previous largest contract.
TCV should be sitting round $21m now with recurring rev around $4.7m.
$900k in capex expenditure this quarter for this bih contract. Announcement identifies this as being part of the outflow figure of $1415k in 9.7 of 4C.
So that means there is $515k of further expected outflow this quarter on further Paas contracts and some one off sales.
Think we will get another Paas contract before Christmas.
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