Significant Growth in New Business TCV
First quarter new business Total Contract Value (TCV) was $337 million, up more than 50% sequentially and more than 80% year-over-year, driven by new logo acquisitions.
DSS Contract Wins
Signed a large new logo win with a global technology supplier for quarterly procurement and services for 380,000 devices across 14 countries. Also secured a DSS contract with a biotech client covering more than 21,000 devices globally.
Recognition and Partnerships
Elevated to 'disrupter' status by Avasant in AI services. Named a leader in attack surface management by NelsonHall. Achieved titanium partner status with Dell.
Strong Pre-Pension Free Cash Flow
Pre-pension free cash flow was $23 million in the first quarter, up $11 million year-over-year, primarily due to improved working capital dynamics.
Improvement in Operating Expenses
Operating expenses declined approximately $16 million year-over-year, with SG&A down nearly 14% from a year ago.