Q-Free has signed an optional extension of a state-wide ATMS contract in the US. The contract is expected to generate a revenue of approx. MNOK 20 over a 30-month period. The contract will be classified as recurring revenue.
-Again, we see that an important customer utilizes their option to extend the use of our services on a central system. The contract helps secure our annual recurring revenue and cashflow moving forward, comments President and CEO of Q-Free, Thale Kuvås Solberg.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Rita Bøe Isaksen, Board Secretary in Q-Free ASA, on 23 November 2022 at 08:35 CET.
For further information, please contact:
Thale Kuvås Solberg, President & CEO, +47 936 800 30
Trond Christensen CFO, +47 481 02 754
About Q-Free: Q-Free ASA (OSE: QFR) is a global innovator in intelligent transportation systems that improve traffic flow, road safety, and air quality. With an open, collaborative approach to tolling, traffic and active transportation management, Q-Free works with customers and partners on every continent to digitize infrastructure and overcome modern mobility challenges for the greater good of society. Headquartered in Trondheim, Norway, Q-Free has annual revenues of approximately NOK 900 million and employs approximately 350 transportation innovators, experts, and enthusiasts. To learn more about how Q-Free is “changing the movements of life”, visit www.q-free.com or Twitter:@Q-FreeASA