Swift TV Lands $2.9 Million Chevron Deal to Boost Recurring Revenue
Swift TV Ltd (ASX: STV) has secured a five-year subscription agreement linked to Chevron’s Wheatstone Onshore facility, strengthening its presence in the resources sector and expanding its recurring revenue base. The contract, signed through Compass Group, carries a minimum value of $2.9 million and follows the recent deployment of 2,000 Swift TV devices at the site. The agreement marks Swift TV’s first major deployment within the Oil & Gas industry and is expected to generate 100% recurring subscription revenue over the contract term. Revenue has commenced immediately following the completion of the Wheatstone rollout. In addition, the arrangement includes the renewal of subscription and Pay TV services across two other Chevron locations, further enhancing revenue visibility.
Management views the contract as a strategic milestone, transitioning an existing customer from legacy services to the Swift TV platform while creating opportunities for further expansion across the resources sector. The company believes the successful deployment at Wheatstone could serve as a valuable reference site for future enterprise customers seeking advanced communication, engagement, and entertainment solutions.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Swift TV Lands $2.9 Million Chevron Deal to Boost Recurring Revenue
Swift TV Ltd (ASX: STV) has secured a five-year subscription agreement linked to Chevron’s Wheatstone Onshore facility, strengthening its presence in the resources sector and expanding its recurring revenue base. The contract, signed through Compass Group, carries a minimum value of $2.9 million and follows the recent deployment of 2,000 Swift TV devices at the site. The agreement marks Swift TV’s first major deployment within the Oil & Gas industry and is expected to generate 100% recurring subscription revenue over the contract term. Revenue has commenced immediately following the completion of the Wheatstone rollout. In addition, the arrangement includes the renewal of subscription and Pay TV services across two other Chevron locations, further enhancing revenue visibility.
Management views the contract as a strategic milestone, transitioning an existing customer from legacy services to the Swift TV platform while creating opportunities for further expansion across the resources sector. The company believes the successful deployment at Wheatstone could serve as a valuable reference site for future enterprise customers seeking advanced communication, engagement, and entertainment solutions.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au