Published on: February 2, 2022
Major deal prompts revenue uplift
Beeks has announced a second major contract win for its Proximity Cloud product range, effectively a private cloud specifically tailored for financial markets clients. The deal is for $2.2m over four years, and although some of the upside is already anticipated in our (and consensus) numbers, we upgrade estimates to reflect the positive news. We increase our FY22E revenue estimate and both revenue and profit in FY23E. The group will be reinvesting the additional revenue, so we leave FY22E earnings estimates unchanged at this time.