Pareteum Corp (NYSEAMERICAN: TEUM) is having an incredibly strong start to the trading session this morning, and for good reason. The company offered a press release early this morning that informed investors of a record-breaking contract. Today, we’ll talk about the contract, what we’re seeing from the stock, and what we’ll be watching for with regard to TEUM ahead.
TEUM Signs Record-Breaking Contract
As mentioned above Pareteum Corporation is having an incredibly strong start to the trading session this morning after announcing a record breaking contract. In fact, the company announced that it has executed agreements that represent a 36-month contractual revenue backlog of a record $147 million. The agreements were entered into on December 31, 2017.
The agreements represent some tremendous growth for the company as well. In fact, the fourth quarter of 2017 represents an increase of 58% in contract agreement executions over the third quarter of 2017. TEUM also informed investors that the compounded annual growth rate or CAGR of the company’s 36-month contractual revenue backlog is 389% since January 1, 2017. In a statement, Vic Bozzo, CEO at TEUM, had the following to offer:
“Across geographies and the fastest growing application markets including Internet of Things (IoT), Application Programming Interfaces (APIs), and Connectivity to enable mobile virtual networks, we are proud of our results-oriented sales team for delivering these industry leading results. The technology innovations and product enhancements we made this year allow us to enter 2018 poised to make another quantum leap forward in our business.”
The above statement was followed up by Hal Turner, Executive Chairman and Principal Executive Officer at TEUM. Here’s what he had to say:
“These contracts establish Pareteum as one of the fastest growing Cloud Communications companies in the world. The excitement of adding Blockchain capabilities, Artificial Intelligence and Machine Learning solutions, and, then applying these services to enable our customers, defines the opportunities we see ahead. In addressing these market segments, broadly including business, Smart City municipalities and the Internet of Things developer communities, we see material progress coming. We are appreciative for the support fo our shareholders as we completed the transition to a full software and service cloud company in 2017. Our results are, we believe, derived from how our services and solutions solve customer problems, saving materially in operations expense, and most importantly creating faster revenue for our customers, while opening new sources of revenue that would have previously required multiple vendors and complex system integrations.”
What We’re Seeing From The Stock
One of the first things that we learn when we get started in the world of investing and trading is that the news moves the market. It’s no surprise that with such positive news out of TEUM, we’re seeing strong movement in the value of the stock. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:19), TEUM is trading at $3.07 per share after a gain of $0.41 per share (15.41%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on TEUM. In particular, we’re interested in following the company’s continued transition into software and cloud services, as it seems to be working wonders to date. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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