The initial order covers the upcoming 9 months, after this period the number of licenses will be reviewed. The contract and order cover software licenses and server maintenance without any hardware content. As a strong player within defense and security, Saab has very high standards for their operations which has led to a thorough evaluation of XMReality Remote Guidance where they have evaluated both the software and potential use cases. The software evaluation also covered a safety accreditation.
“This is a very important order and positions XMReality in the aerospace and defense sector where safety standards and standards in general are very high. From my many years in this sector, I see a vast number of use cases where our Remote Guidance can create additional value and speed up processes.”, says Jörgen Remmelg, CEO at XMReality.
As per the contract terms, the majority of the commitment will be delivered at the beginning of the contract period. Hence the majority of the order value will be recognized as net sales in accordance with this.