Adveritas (ASX:AV1) said that it signed several renewal contracts with global sports betting organizations that contain higher contract rates and span more than one year, according to a Monday Australian bourse filing.
These renewal contracts drove up annual contract values by around 27% and are expected to generate cash receipts of AU$5 million over their term.
The firm noted that it achieved a milestone by securing its first AU$1 million annual contract value for a single enterprise-level customer. It is focused on securing further contracts with an annual contract value of AU$1 million in all its target verticals.
The digital advertising and marketing firm's shares rose 8% on market close on Monday.
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