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NTG Clarity Announces Work Valued at $14.6M CAD

newsfile ·  Jan 30 12:00

Toronto, Ontario--(Newsfile Corp. - January 30, 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 contracts totaling approximately $14.6M CAD from existing customers in the financial, IT, and telecom sectors. The POs and contracts are expected to have gross margins in line with historical margins.

NTG enters the new year in a strong position, capitalizing on the massive opportunities created by Saudi Arabia's Vision 2030 plan and its related digitization initiatives. With over 20 years of experience in the Saudi market, NTG's commitment to quality continues to earn larger and longer-term contracts from loyal customers.

In the last while NTG has won:

  • $11.6M in renewals across multiple POs and contracts to provide offshore and onsite software development services.

    • Many of these renewals represent an increase in the number of resources contracted as our customers increasingly trust NTG to deliver their digital transformation roadmaps

  • $2.2M in new work and renewals across multiple POs to provide offshore and onsite software development services.

    • This represents a subset of POs expected to be billed against previously announced contracts, including the $53M three-year contract announced in August 2024, as work on these engagements continues and ramps up.

  • $800K across multiple POs to provide licensing, customization, and support to our NTGapps platform for existing customers in the Telecom and IT sectors, showing continued growing demand for NTG's software product suite.

These orders increase NTG's backlog of unbilled purchase orders and contracts on-hand as of December 31, 2024, as well as any contracts and POs announced since then, to approximately $105M, reinforcing the company's strong position for sustained profitable growth.

"We continue to see our clients renew and expand their contracts - clear evidence of their deep trust in NTG and the recognition of the value we provide as a part of their long-term digital strategy," said Adam Zaghloul, Vice President of Strategy & Planning at NTG Clarity. "Our unwavering commitment to high-quality service at competitive prices continues to exceed expectations, driving both retention and expansion. By consistently adapting to our clients' evolving needs, NTG is not only strengthening existing relationships but also attracting new clients and securing major contract wins, accelerating our growth."

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.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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