Quantum Base wins £0.25m contract extension

(Sharecast News) - Quantum Base announced a £0.25m expansion of its contract with its largest customer, a major international security printer, on Tuesday, adding to a previous £0.1m extension agreed earlier in the year. The AIM-traded firm said the additional revenue would be recognised in the current financial year ending 30 April.

It said the agreement, which allowed the customer to market and sell Quantum Base's Q-ID technology, was initially deployed on government tax stamps.

The expanded contract would broaden support to 170 smartphone models, covering more than 99% of usage in the company's target markets.

"I am delighted to announce the expansion of our contract with our largest customer - a significant commercial partnership for Quantum Base," said chief executive Tom Taylor.

"When we initially signed the agreement, it represented the first large-scale commercialisation of Q-ID technology.

"The decision to broaden the programme scope and advance our relationship at this relatively early stage serves as a strong indication of the real-world value that our product is delivering."

He added that trading remained in line with expectations, and that the company still anticipated signing four more commercial contracts by April 2026.

"Counterfeiting is on the rise globally, and we're experiencing high demand for our world leading innovation," Taylor said.

At 1419 BST, shares in Quantum Base Holdings were up 9.93% at 18.14p.

Reporting by Josh White for Sharecast.com.