Customer Contracts Update
Summary by AI BETAClose X
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION NO. 596/2014 (AS INCORPORATED INTO UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 AS AMENDED BY VIRTUE OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN
24 December 2025
Crimson Tide plc
("Crimson Tide", the "Company" or the "Group")
Customer Contracts Update
Crimson Tide plc (AIM:TIDE), the provider of the mpro5 process management app, announces that it has received formal notice from a significant customer, a major retailer (the "Customer"), that it intends to exercise a break clause in its existing contract with the Company. The break clause will take effect on 31 March 2026. To note, this does not relate to the contract renewal which was announced on 10 November 2025.
The Company remains in constructive dialogue with the Customer regarding transition arrangements and is implementing mitigation strategies to reduce the impact of this change.
Whilst the Company is disappointed to lose a valued customer, this change will release considerable resources previously dedicated to servicing this account. The Customer's requirements necessitated significant bespoke development within the platform, which has constrained product development capacity. The conclusion of this contract will enable the Company to redeploy resources towards higher-margin opportunities, accelerate delivery of core product enhancements and support the Company's strategy to build a more scalable SaaS platform. Whilst there will be an immediate impact on revenue, the Board believes that this transition will benefit the Company over the longer term.
The contract, which commenced on 1 December 2024, represented approximately 12% of the Company's annual recurring revenue ("ARR") for the financial year ended 30 April 2025 and 30 April 2026, albeit at below average margins for the reasons explained above.
The Company has separately secured renewal agreements with two customers, representing combined monthly recurring revenue ("MRR") of approximately £14,700 for 12 months. Both customers had previously served notice of non-renewal and were therefore classified as churned. Following a renewed focus by the current management team on customer retention, and the implementation of a structured retention strategy focused on maximising customer value from mpro5, the Company has successfully re-engaged and retained both customers.
Enquiries:
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Crimson Tide plc |
+ 44 1892 542444 |
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Chris Fielding, Non-Executive Chair |
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Jon Clarke, Chief Executive Officer Rachael Rowe, Finance Director |
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Allenby Capital Limited - Nominated Adviser & Broker |
+44 (0)20 3328 5656 |
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Jeremy Porter / Ashur Joseph (Corporate Finance) |
info@allenbycapital.com |
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Tony Quirke / Lauren Wright (Sales & Corporate Broking) |
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