That a core client undertakes such a commitment to the $ALC product suite is great news. However, to maintain the thesis $ALC needs to follow-up over the coming months with additional material NHS contracts, including with new customers.

Agree @mikebrisy .This is the crux of it. Stickiness of the revenue is a pretty central part of the thesis for any SaaS business and especially one with the sort of long sales cycle that ALC has. Contract renewals are just confirmation of that. But has anyone really doubted the quality of the product? The issue remains capital management. Today's renewal is just another mile marker indicating the product is actually doing what it says on the box.

@mikebrisy fair comment. this announcement is good news, a new client would be great news.