Stakk secures US$9M Candescent software deal

• Stakk signed a five-year, US$9 million agreement with U.S. financial infrastructure provider Candescent.
• Following the announcement, Stakk shares remained unchanged at $0.028.
• The deal aims to boost recurring revenue by integrating Stakk's technology into over 1,300 banks and credit unions.

Stakk (ASX:SKK) executed a five-year commercial agreement valued at US$9 million to integrate its technology directly into Candescent’s financial infrastructure platform.

The contract represents an immediate expansion of the fintech group's footprint compared to its prior operations, linking its platform to Candescent's network of more than 1,300 banks and credit unions serving over 30 million registered users.

The company stated that the deal provides an annual revenue commitment of approximately US$1.8 million, which it expects will contribute directly towards its FY27 revenue milestone of $55 million and its FY28 growth targets.

Following the announcement, the Stakk share price was unchanged at $0.028.

This contract follows recent commercial wins with the Federal Bureau of Investigation for signature verification capabilities and additional contract wins across the healthcare sector.

The expansion builds on Stakk's strategy to deploy its modular financial technology across regulated industries, following its recent US$63 million acquisition of U.S.-based ParaScript.