Ann: Swift Signs $3.4 Million in New Contracts, page-17

The communication still isn’t good enough from management in my opinion.
It’s good to update the market, but the announcement proclaims in the heading these are ‘new’ deals.
But very quickly in the first line we realize these are just deals with existing customers.
The announcement goes onto to say:
- Shell = contract upgrade (maybe some revenue uplift here?)
- Western Areas = continuing (ie: no upgrade?) for 36 months (no revenue growth?)
- AngloGold Ashanti - extended for 12 months (no revenue growth?)
- McKenzie - renewal / extension (doesn’t appear to be any revenue growth?)
So, the $3.4m number might sound good, but is there actually much of a revenue increase at all?
What is the impact on Annual Recurring Revenue?
Given all deals below $1m each, can’t imagine the Shell deal has increased by more than $200k annually.
If there is no big revenue increase, that is fine as well, retaining revenue very important as well.
But don’t dress it up as something that it is not, the market is smart enough to know what it isn’t.
Total transparency and progress on the bottom line is what Swift need to get new investors on board