Published on: December 22, 2022

Major license fee underpins full-year result

Instem has announced a major contract extension with an existing customer for its Provantis study management software. The contract extension is worth $1.4m, of which some $1.2m is perpetual license fees (and historical usage charges) that will be recognised immediately. We make no changes to estimates, but clearly this revenue (which will carry a very high gross margin) provides material additional comfort around, and reduces risk within, our FY22E forecasts. The win emphasises the strong market position that Provantis commands; Instem’s core and long-standing software continues to deliver, and we have high hopes for the group in FY23 and beyond.

Related Content