Datable Technology Corporation announced that it signed an agreement for a two-year contract renewal on August 2, 2022, covering the period ending on August 31, 2024. The customer is the home entertainment division of a global media and technology company that operates business units that provide cable, entertainment (major motion pictures, television, and theme parks) and streaming services. The customer has been using PLATFORM3 since 2017 to host its loyalty and consumer data program.

Datable also provides PLATFORM3 to the digital division of the global media and technology company which renewed its annual contract earlier this year. The Agreement pays Datable approximately $260,000 in license revenues, with additional revenues expected from transaction fees, rewards and upsells. Gross margin on the revenues is expected to be greater than Datable's gross margin of 43% in the first quarter of 2022 due to the product mix.

Datable now has close to $4 million in revenue under contracts for 2022 and future periods, of which approximately $3.5 million is expected to be recognized as revenue in 2022. This includes over $3.5 million in contracted revenues and close to $400,000 in expected program fees from customers. Datable expects gross margin to be between 40% and 50% in 2022, depending on the product mix.