NTG Clarity Announces $50M Revenue Target for 2024 with Announcement of New POs for Work Valued at $6.5M CAD

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[{"type":"text","content":"NTG Clarity Announces $50M Revenue Target for 2024 with Announcement of New POs for Work Valued at $6.5M CAD\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Toronto, ON / TheNewswire / March 18,\n2024 / NTG Clarity Networks Inc. (TSX.V:NCI, OTC: NYWKF);\n \n \n NTG Clarity is excited to announce its 2024 revenue target\nof $50M (at an estimated gross margin of 40%), and that it has\nreceived 14 new purchase orders (POs). These POs are for $6.5M CAD in\nnew work and renewals for new and existing customers in the Financial,\nTelecom, Utilities, and Food & Beverage sectors.\n \n \n \n \n These contracts -- for both outsourced professional\nservices and software solutions -- will result in the placement of\nmore than 100 staff onsite and offshore to service these customers.\nThe breakdown of the work is as follows, with all customers in the\nMiddle East unless otherwise noted:\n \n \n \n \n \n \n $2.55M in POs new work:\n \n \n \n \n \n \n \n \n $1.8M for Outsourced Professional Services:\n \n \n \n \n \n \n \n \n \n \n $1.2M to provide offshore staff for three months for an\nexisting customer in the Digital Solutions sector\n \n \n \n \n \n \n $637K across two POs to provide onsite and offshore\nstaff to two existing customers in the Financial sector\n \n \n \n \n \n \n \n \n $750K for Software Products:\n \n \n \n \n \n \n $216K to provide our NTGapps software platform for new\ncustomer in the Utilities sector\n \n \n in Canada\n \n \n \n \n \n \n $162K to provide software support for our NTGapps\nplatform for an existing customer in the Financial sector\n \n \n \n \n \n \n $135K to provide a Utility Billing solution built on\nour NTGapps platform for a new customer in the Utilities\nsector\n \n \n \n \n \n \n $115K to build an ERP system on our NTGapps platform\nfor a new customer in the Food Beverage sector\n \n \n \n \n \n \n $108K to build an ERP system on our NTGapps platform\nfor an existing customer in the Financial sector\n \n \n \n \n \n \n $14K to further customize our NTGapps platform for an\nexisting customer in the Telecom sector\n \n \n \n \n \n \n \n \n \n \n Product contracts typically come with recurring revenue\nfrom support, maintenance, and change requests.\n \n \n \n \n \n \n $3.9M in POs for renewal work:\n \n \n \n \n \n \n \n \n \n \n ...

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