KRM22 plc (LON:KRM), the technology and software investment company, with a particular focus on risk management in capital markets, has announced a contract extension with an existing Risk Cockpit customer.
Further to the Company’s trading update of 22 July 2021, the Company has signed a three-year contract extension with a tier one customer, with Annual Recurring Revenue (“ARR”) of £0.4m per year, an increase in existing ARR of £0.15m per year. In addition to the immediate increase in ARR, the contract includes an option to increase ARR further by up to £0.2m by March 2022.
Keith Todd CBE, Executive Chairman and CEO at KRM22 commented : “I’m pleased that we can announce this contract signature. As stated in the trading update, the precise timing of contract signature is uncertain however we expect further contract signatures in the near future. The contract extension for a further three years is endorsement of our Risk Cockpit product applied to operational risk management.”
