Actual Experience plc (LON: ACT), the analytics-as-a-service company, has today announced that, further to the announcements made in August 2017 and October 2018, it has received a new Open Purchase Order from one of its channel partners. This new instruction brings the cumulative total to more than four times the value originally ordered in August 2017. The previously existing PO value has been utilised to support recent monthly sales invoices and the increased value of the PO is required to facilitate expected levels of future billings.
This uplift in order value reflects continued commercial momentum with this partner. Specifically, the PO will enable the partner to undertake deployments with an increasing number of its customers without the need to submit individual orders for each new customer and deployment stage. As before, this expanded PO has no set time limit and therefore does not represent a revenue commitment within a specific timeframe.
Dave Page, CEO of Actual Experience plc, commented:
“We are excited about the pipeline development progress made by two of our partners since the two large scale deployments announced last year. This continuing expansion of the Open PO with one of these partners reflects their own internal forecast for our product and their commitment of resources to meet that forecast. We view the open PO, its continued expansion, and the significant increase in engagement from both partners, as leading indicators of future revenues, most likely in the second half of this year. The value of the previously announced deployments combined with the scale of our partners and their evident commitment reinforces our belief that each partner has the potential to generate at least $10m annual revenue to Actual Experience.”
