Sharechat Logo

Plexure inks second $1M contract at end of 2016, pushing ACMR over $10M goal

Wednesday 4th January 2017

Text too small?

Plexure Group, the digital advertising firm formerly known as VMob, says it has passed $10 million in annualised committed monthly revenue (ACMR) after signing a new $1 million contract with an undisclosed client.

The company had been targeting $10 million in ACMR - a favoured revenue measure for software-as-a-service companies - by the end of calendar 2016, and announced a new $1.1 million contract with Arcos Dorados Inc, the biggest McDonald's franchisee in Latin America and the Caribbean, on Dec. 30. Today, Plexure said it had signed another material contract, worth about $1 million, after the market closed on Dec. 30. With those two contracts and expansion from existing customers, ACMR is now at $10.1 million, it said in a statement to the NZX.

"Plexure is at this time unable to announce details of the new contract as they remain confidential and commercially sensitive," the company said. "Further particulars will be announced to the market when the final terms and conditions have been agreed."

ACMR "can increase or decrease in any given month due to a number of factors", including foreign exchange movements and customers adding or removing services on a monthly basis, Plexure said.

"The company's directors remain confident about the growth opportunities for the business in 2017 and thank shareholders for their ongoing support," it said. 

The shares rose 3.1 percent to 33 cents. 

Stock market operator NZX is currently "assessing" Plexure's recent trading after the stock soared 26 percent on Dec. 29, a day before it announced the Arcos Dorados deal. The shares rose 33 percent to 32 cents when Plexure announced the deal on the final trading day of 2016. The stock had sunk to a record low 19 cents on Dec. 22.

 

BusinessDesk.co.nz

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ shares fell on global growth concerns
New Zealand dollar becalmed ahead of CPI data
Billionaire Aussie miner moves businesses to NZ in 'quixotic' CER gambit
RBNZ plucks bank capital numbers out of the air: Reddell
Genesis coal burn reached 5-yr high in 'unprecedented' conditions
Govt part-funds another $11m of low-emissions transport projects
January 22nd Morning Report
NZ dollar stalled ahead of CPI data; IMF trims global outlook
MARKET CLOSE: NZ stocks gain; investors seek value ahead of earnings season
NZ dollar drifts lower ahead of CPI; China GDP as expected

IRG See IRG research reports