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Redknee rises after several recent orders

Redknee CEO Lucas Skoczkowski
Redknee CEO Lucas Skoczkowski
Shares of Redknee (TSX:RKN) are up more than 10% today on the heels of several recent orders.

The company Wednesday secured $8-million in order from an unnamed company it described as a “a leading communications service provider (CSP) in the Americas region”. The service agreement, says the company, will allow the CSP to provide next-gen data services.

“We are pleased to support this leading service provider, an affiliate of a global group operator, to monetize its next-generation services and offerings,” said CEO Lucas Skoczkowski. “These orders demonstrate the confidence Redknee’s customers have in our capabilities and solutions to support their data monetization strategies. Redknee’s continued commitment to invest in our real-time software will ensure that our customers are the best equipped in the industry to increase revenues, improve profitability and deliver an advanced customer experience.”

Wednesday’s order added to a $6-million deal revealed on September 9th, and a $7-million order announced late in August, both to unammed service providers. The orders came after a Q3 in which Redknee lost (U.S.) $6.87-million on revenue of $63.9-million, a quarter Cantor Fitzgerald Canada analyst Justin Kew described as “messy”.

At press time, shares of Redknee were up 10.1% to $3.92.

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About The Author /

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
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