Beeks Financial Cloud Group (LSE: BKS) secured two new contracts worth a combined $3.8 million, adding a major Canadian bank and expanding an existing partnership with a large Forex broker. However, the company did not disclose the names of the partners in the official announcement published today (Wednesday).

Beeks Financial Lands $3.8M in New Deals

The AIM-listed company signed a three-year Private Cloud deal with the unnamed Canadian lender valued at $1.5 million. Separately, Beeks extended its relationship with an FX broker through an additional £2 million Proximity Cloud contract, bringing that client's total commitment to £4 million over five years. Both agreements are set to start generating revenue during the second half of the company's current fiscal year, which ends in June 2026.

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"We have a wide range of opportunities progressing through our sales pipeline across the breadth of our product offering," CEO Gordon McArthur said in a statement.

Exchange Deals Fuel Recent Growth

Beeks has been riding momentum from contracts with global exchanges after reporting 26% revenue growth to £35.9 million for the year ended June 30. The company tripled sales from its Proximity and Exchange Cloud products to £10.3 million, helped by deals with the Australian Securities Exchange, Mexico's Grupo Bolsa Mexicana de Valores, and crypto platform Kraken.

After year-end, Beeks partnered with TMX Datalinx to power a new service called TMX Elastic Market Access, pending regulatory approval. That agreement gave Beeks another foothold in North America, where it has been working to expand its presence among financial institutions.

The company now has contracts with six of the world's 30 largest exchanges and said four more top-30 venues are in final negotiation stages. Beeks switched some Exchange Cloud deals to a revenue-sharing model during its last fiscal year, a move meant to shorten sales cycles by reducing upfront costs for exchange partners.

Private Cloud Bookings Pick Up

The Canadian bank deal marks another win for Beeks' Private Cloud unit, which lets clients run dedicated infrastructure inside their own facilities or third-party data centers. That business line helped push the company's annualized committed monthly recurring revenue to £31.5 million by September, up from £29.5 million at fiscal year-end in June.

Beeks reported what it called a strong start to its current fiscal year for Private Cloud, though the segment has grown more slowly than the Exchange Cloud business. Private Cloud revenue rose 5% to £14.7 million last year, while Exchange and Proximity Cloud sales nearly tripled.

Pipeline Reaches Record Levels

Beeks said its sales pipeline stands at record highs across all product lines, with multiple opportunities involving leading global financial institutions. The board repeated it expects to meet fiscal 2026 targets, though the year is still in early stages.

Statutory profit before tax nearly doubled to £2.79 million last year from £1.46 million, while underlying profit before tax jumped 41% to £5.5 million. The company's gross profit margin improved to 40.9% from 39.8%.

One major exchange contract won in the prior year was terminated during fiscal 2025, though Beeks said the financial impact would be minimal because the service hadn't fully launched. The company didn't name the exchange or disclose the contract size.