Quote Originally Posted by justakiwi View Post
I believe "closed contract" refers to "signed" contracts, as opposed to contracts still in negotiation. The initial contract covers the major project work to set them up (including devices) then there is a recurring subscription payable to continue to use the IKE platform and analysis (companies can either do their own analysis or pay IKE to do it). I have read a full explanation of this somewhere in the past, but having trouble remembering where now.


This might help:
Yes and they said at half year they have a strong new opportunity pipeline, so I'm confident the closed contracts strength will continue on in the short-medium term.

At the moment 26% of revenue is subscription (exc transaction).
My take is closed contracts represents future transaction and hardware revenue only.