Recent Wins Add $5.9 Million of Contracted Revenue.
Calgary, Alberta--(Newsfile Corp. - November 30, 2021) - Sylogist Ltd. (TSX: SYZ) ("Sylogist" or the "Company"), a leading public sector SaaS company, is pleased to announce several representative new customer wins:
Serenic Navigator:
$3 million award, including $460 thousand in subscription revenue, over an initial two-year term and $230 thousand in subscription annual recurring revenue (ARR) thereafter, with a leading global health non-profit
$180 thousand of subscription ARR with a US-based Regional Planning Authority
Mission CRM (recent acquisition):
$500 thousand award with a major Canadian healthcare non-profit
InfoStrat SAVIN Victim Notification:
$2.1 million of services and subscription ARR tied to three US state awards
"As anticipated, we are seeing concrete evidence of organic growth in several lines of business," commented Bill Wood, Chief Executive Officer. "We made strategic investments in FY2021 to position the company for growth, including materially investing in our sales & marketing and account management activities across the business. As a result, in addition to several material new SaaS bookings we've secured, we expect to see the pace of growth accelerate over the coming months, reaching the high single digits in FY2022, while maintaining solid profitability and a Rule of 40 posture, if not better."
About Sylogist
Sylogist is a public sector SaaS company that provides comprehensive ERP, CRM, fundraising, education administration, and payments solutions that allow its customers to carry out their missions. It serves over 1,700 customers globally, including all levels of government, non-profit and non-governmental organizations, educational institutions, and public compliance-driven and funded companies. The Company has industry-leading profitability, an exceptionally strong balance sheet, a track record of successful acquisitions, and a portfolio of mission-critical SaaS solutions. Full financial statements together with Management's Discussion and Analysis are available on SEDAR at www.sedar.com.
The Company's stock is traded on the Toronto Stock Exchange under the symbol SYZ. Information about Sylogist can be found at www.sylogist.com.
Forward-Looking Statements
Non-GAAP Financial Measures
For further investor information, please contact:
Rudy Shirra, Manager, Corporate Development & Investor Relations
Sylogist Ltd.
(403) 266-4808
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