REG - Crimson Tide PLC - Customer Contracts Update

Crimson TideAnnouncement

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RNS Number : 7312M  Crimson Tide PLC  24 December 2025

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:

 

 Crimson Tide plc                                             + 44 1892 542444
 Chris Fielding, Non-Executive Chair
 Jon Clarke, Chief Executive Officer

 Rachael Rowe, Finance Director

 Allenby Capital Limited - Nominated Adviser & Broker         +44 (0)20 3328 5656
 Jeremy Porter / Ashur Joseph (Corporate Finance)             info@allenbycapital.com
 Tony Quirke / Lauren Wright (Sales & Corporate Broking)

 

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