NTG Clarity Announces Work Valued at $12.5 Million

Rhea-AI Summary

NTG Clarity Networks (NYWKF) has secured new purchase orders and contract renewals worth $12.5 million CAD, demonstrating strong business momentum. The company received $4 million in new work, including $2M for software development services and $2M for their NTGapps platform. Additionally, $8.5 million in renewals were secured, comprising $5.1M for development services with expanded resources, $3M for offshore/onsite services under a previous $53M contract, and $400K for their NTGapps platform.

The company's referral-driven sales strategy is showing success, with significant client retention and expansion. These orders support NTG's 2025 revenue guidance of $75 million. The high renewal-to-new-work ratio demonstrates NTG's ability to maintain and grow existing client relationships while attracting new business.

Positive

• Secured $12.5M CAD in new orders and renewals
• Strong client retention with $8.5M in contract renewals
• Several renewals include increased resource allocation
• On track to meet $75M revenue guidance for 2025
• Growing adoption of NTGapps platform

Negative

• None.

Toronto, Ontario--(Newsfile Corp. - May 14, 2025) - NTG Clarity Networks Inc. (TSXV: NCI) (OTC Pink: NYWKF) (NTG Clarity, "NTG") is pleased to announce it has received new purchase orders ("POs") and contract renewals totaling approximately $12.5M CAD from existing and new customers.

In the last while NTG has won:

• $4M in New Work

  • $2M in purchase orders to deliver onsite and offshore software development services.

  • $2M in purchase orders for licensing, customization, and ongoing support of our NTGapps platform for an existing Telecom client.

• $8.5M in Renewals

  • $5.1M across multiple contracts for both offshore and onsite development services.

    • Several of these renewals include an increase in the number of contracted resources.

  • $3M in purchase orders for offshore and onsite development services.

    • These POs represent billings under previously announced agreements, including the $53M three-year contract announced in August 2024, as work continues to ramp up.

  • $400K in purchase orders for licensing, customization, and ongoing support of our NTGapps platform for an existing Telecom client.

The ratio of renewals to new work in these POs and contracts exemplifies NTG's ability to not only impress and expand engagements with existing clients, but also secure new projects through largely referral-driven sales efforts. Continued strong orders for new work and renewals puts us on track to meet our 2025 revenue guidance of $75 million.

"Our sales strategy is clearly gaining traction, as evidenced by several new contract wins aligned with our referral-driven, land-and-expand approach," said Adam Zaghloul, Vice President of Strategy & Planning at NTG Clarity. "Notably, $8.5 million of the announced purchase orders come from existing clients who are continuing or expanding their outsourcing engagement with us- often allocating more of their digital transformation budgets to NTG as a result of the consistent value we've delivered. We're also seeing accelerating interest in our NTGapps platform, which clients increasingly recognize as a flexible, scalable tool to support their evolving digital transformation needs."

About NTG Clarity Networks Inc.

NTG Clarity Networks' vision is to be a global leader in digital transformation solutions. As a Canadian company established in 1992, NTG Clarity has delivered software, networking, and IT solutions to large enterprises including financial institutions and network service providers. More than 1000 IT and network professionals provide design, engineering, implementation, software development and security expertise to the industry's leading enterprises.

Forward-Looking Information

Certain statements in this release, other than statements of historical fact, are forward-looking information that involves various risks and uncertainties. Such statements relating to, among other things, the prospects for the company to enhance operating results, are necessarily subject to risks and uncertainties, some of which are significant in scope and nature.

These uncertainties may cause actual results to differ from information contained herein. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of the management on the dates they are made and expressly qualified in their entirety by this notice. The company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

For Further Information:
Adam Zaghloul, Vice President, Strategy & Planning
NTG Clarity Networks Inc.
Ph: 905-305-1325
Fax: 905-752-0469
Email: adam@ntgclarity.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/252037

FAQ

What is the total value of new purchase orders and renewals announced by NYWKF in May 2024?

NTG Clarity (NYWKF) announced new purchase orders and contract renewals totaling approximately $12.5 million CAD, comprising $4M in new work and $8.5M in renewals.

How much of NYWKF's new contracts are from existing clients versus new customers?

$8.5 million comes from existing client renewals, while $4 million represents new work, showing strong client retention and ability to secure new business.

What is NTG Clarity's (NYWKF) revenue guidance for 2025?

NTG Clarity has provided revenue guidance of $75 million for 2025, which they are on track to meet based on their current contract momentum.

How much of the new orders are related to NTG Clarity's NTGapps platform?

Orders related to NTGapps platform total $2.4 million, with $2M for licensing, customization, and support from a new telecom client, and $400K from an existing client.

What portion of the $12.5M announcement is connected to NYWKF's previously announced $53M contract?

$3M of the renewals are purchase orders for offshore and onsite development services related to the previously announced $53M three-year contract from August 2024.