Smart Employee Benefits - CEO, John McKimm.
CEO, John McKimm.
Source: Smart Employee Benefits.
  • Smart Employee Benefits (SEB) has surpassed $76.5M in contract wins for FY2022
  • The figure breaks down into $70.8M+ for professional services and $5.7M+ for software and solutions
  • The company expects substantial near-term growth from a robust Canadian and U.S. sales opportunity pipeline
  • Smart Employee Benefits is an insurance technology company focused on benefits administration through software and services
  • Smart Employee Benefits (SEB) opened with a gain of 3.44 per cent, trading at $0.15 per share

Smart Employee Benefits (SEB) has surpassed $76.5M in contract wins for FY2022.

Professional services wins exceed $70.8M, including $33.1M of option years.

Software and solutions wins have a minimum value in excess of $5.7M.

All contracts are multi-year with recurring revenue and terms between 2 and 11 years.

The news follows three new contract wins for FY2022 in Canada and the U.S. The company has vendor status to bid on the delivery of IT solutions and services. The clients’ IT budgets represent hundreds of millions of dollars annually. 

The company has also added three new vendor management agreements authorizing it to supply ITS software, solutions and services. IT budgets for the three entities exceed approximately $40M annually. The arrangements have terms up to five years.

Smart Employee Benefits’ sales opportunity pipeline in Canada and the U.S. remains very strong for 2022. It expects substantial growth as its fiscal year progresses. Its RFP win rate remains above 65 per cent, which is in line with 2021.

“Typically, our contracts take several months to deploy, and although we will realize some revenue in 2022, the full revenue and profitability of these new contract wins won’t flow through our results until 2023,” stated CEO John McKimm. “Furthermore, these new wins add to our large base of recurring revenue, which is currently over 90 per cent of our contracted revenue.”

Smart Employee Benefits is an insurance technology company focused on benefits administration through software and services.

Smart Employee Benefits (SEB) opened with a gain of 3.44 per cent, trading at $0.15 per share.


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