NTG Clarity Announces Work Valued at $16.6 Million, Including First POs Under Previously Announced March 2026 Framework Agreement
Rhea-AI Summary
NTG Clarity (OTC: NYWKF, TSXV: NCI) announced approximately $16.6 million CAD in new purchase orders and contract renewals, reflecting ongoing demand for its offshore and onsite software development and NTGapps solutions.
The total includes $2.3 million in new POs from an existing real estate development customer under a three-year framework agreement announced in March 2026, covering part of the expected work for the remainder of 2026 and representing the first POs under that framework. NTG Clarity also reported $13.6 million in renewals, expansions and related POs with existing customers tied to a previously disclosed $53 million three-year framework contract from August 2024, plus $723,000 in new NTGapps orders. The company plans to start the March 2026 engagement with the placement of over 30 resources, and highlighted that its offshore development centre model and NTGapps offerings are aligned with customers’ cost and return-on-investment focus in Saudi Arabia and the Gulf region.
Positive
- $16.6M CAD total new POs and renewals announced
- First purchase orders under March 2026 three-year framework agreement
- $2.3M new POs from an existing real estate development customer
- $13.6M renewals and expansions tied to prior $53M framework
- $723K new NTGapps purchase orders from existing customers
- Planned deployment of 30+ resources for new March 2026 engagement
Negative
- None.
News Market Reaction – NYWKF
In the Jul 16 session, NYWKF gained 6.24%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Toronto, Ontario--(Newsfile Corp. - July 16, 2026) - NTG Clarity Networks Inc. (TSXV: NCI) (OTC Pink: NYWKF); NTG Clarity ("NTG" or the "Company") is pleased to announce it has received new purchase orders ("POs") and contract renewals totaling approximately
$2.3M in new purchase orders with an existing real estate development customer for offshore and onsite software development services- These POs represent billings against the previously announced three-year framework contract announced in March 2026.
- These POs cover a portion of the expected work for the remainder of 2026 only, with additional POs expected for 2027 and beyond as the engagement continues.
$13.6M in contract renewals, expansions, and related purchase orders with existing customers:$9.6M in renewed POs and contracts for offshore and onsite software development services.$4.0M in purchase orders for offshore software development services.- These POs represent billings against the previously announced
$53M three-year framework contract announced in August 2024.
- These POs represent billings against the previously announced
$723 K in new purchase orders for NTGapps for existing IT, Finance, and Telecom customers.
"Saudi Arabia's public and private sector focus on return on investment has sharpened, and these renewals show that NTG's value holds up under that increased scrutiny. Existing customers renewed, and most expanded, across offshore and onsite delivery, including further purchase orders under our
These are the first purchase orders under the new three-year framework agreement announced in March 2026. While NTG continues to finalize additional work with this customer, we look forward to starting the engagement with the placement of over 30 resources.
Amid regional uncertainty, enterprises in Saudi Arabia and across the Gulf are adjusting their strategies to focus on cost effectiveness and return on investment. NTG's offshore development centre model delivers high quality results at a competitive cost, positioning the Company well within this environment. NTG's software offerings like NTGapps also provide a quality, cost-effective, off-the-shelf alternative to expensive software platforms.
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 1,400 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, including statements regarding future contracts and performance, are forward-looking information that involves various risks and uncertainties. Such statements 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 management on the dates they are made and are 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/305355