NTG Clarity Networks (NCI) investor relations material

Market opportunity and positioning

• Saudi Arabia is undergoing a $1.3 trillion investment-driven digital transformation, with a rapidly growing ICT market projected to reach $76.05 billion by 2029 at an 8.5% CAGR.

• 95% of revenue is generated from Saudi Arabia, with a 20+ year track record and a 3-year revenue CAGR of over 60%.

• The company leverages a Canadian-led, Egypt-based, Saudi-focused model, utilizing Egypt's skilled IT workforce for cost-effective solutions.

• Major clients include leading banks, telecoms, and government entities in the Middle East.

Business model and operations

• Operates two main business lines: digital transformation development services and proprietary software.

• Offshore services offer faster deployment and higher margins, with 50% customer savings over onsite services.

• NTGapps platform enables customizable, no-code enterprise applications for various sectors.

• 1,300+ IT, network, and engineering professionals support operations across the Middle East.

Growth, contracts, and customer metrics

• Recent contract wins total $53M, with increasing contract size and length, and a backlog exceeding $88M.

• 18 consecutive quarters of LTM revenue growth, with ~25% increase in customers and ~90% retention.

• Approximately 54% of customers increased services, and 85% of revenue is recurring or re-occurring.