Actual Experience wins multi-year contract with global energy supplier

23rd Aug 2021 08:04

(Sharecast News) - Analytics-as-a-service company Actual Experience said on Monday that it has been awarded a multi-year continuous improvement contract by the UK arm of an unnamed global energy supplier.
Actual Experience stated the contract was for an initial three-year period, with potential for subsequent extensions, and came with a total expected value of approximately £1.0m.

The AIM-listed group also highlighted that contract win was only the first of a number of direct sales and channel partner sales opportunities that it was currently targeting, with the total addressable market of its sales pipeline growing from 4.0m to more than 10.0m since January 2021.

Chief executive Dave Page said: "This contract win is a significant milestone for Actual Experience. It follows our pivot to professional services and is validation of our new business strategy.

"With the potential to further enhance the value of this contract with our 'land and expand' strategy, in the UK and internationally, as well as providing an important reference customer, this contract is a significant milestone for the business."

As of 1105 BST, Actual Experience shares were up 5.22% at 106.80p.