NTG Clarity Networks Inc. announced that it has received 11 new purchase orders (POs) for a total of CAD 2.1 million in new work and renewals for existing customers in the Financial, Government, and Telecom sectors. These POs represent continued strong relations with existing customers. The new work expands on the products and services already provide, while the renewals continue some already large engagements with a key client in the Financial sector.

Also noteworthy is that the expected average gross margin on these contracts is approximately 40%, putting on track to reach targeted gross margin for 2024. The breakdown of the work is as follows, with all customers in the Middle East: CAD 1.967 million in renewals across 9 POs to provide on-site professional services to an existing customer in the Financial sector. CAD 185,000 in new work: CAD 175,000 to provide offshore professional services for two months for an Existing customer in the Government sector.

CAD 10,000 to provide expanded functionality to NTGapps platform for an existing customer in the Telecom sector.