Enlitic (ASX:ENL) secured 20 new agreements, across migration technology contracts and software license agreements for its product, Ensight, for a total estimated contract value of about AU$2.5 million in revenue, according to a Wednesday Australian bourse filing.
The company expects 75% of revenue from these new agreements to be recognized in the current year to reach an operational cash flow break-even by the end of the year.
The company's shares fell 4% on market close.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.