What's Going On With Creative Realities Stock?

Creative Realities, Inc. CREX shares are moving on a company announcement of a contract valued at $46 million.

The Details: On Wednesday, Creative Realities announced via a press release an exclusive contract to deploy a digital-out-of-home (DOOH) advertising network in more than 1,000 locations in "the experiential leisure vertical throughout the United States."

The customer is a DOOH network operator that has secured private equity funding. The company will support the execution of these installations by Creative Realities over the next 18 months. Based on the current parameters of the contract, the contract will be valued at $46 million of revenue for Creative Realities. A joint announcement between the two firms is expected later this month.

Additionally, the company also revised its revenue guidance, expecting $60 million in 2023. The company is also holding over $110 million in backlog as it has continued to secure contracts.

"The formidable capabilities of CRI are additionally showcased to provide quality hardware, technical expertise, installation support and ongoing maintenance at enterprise scale," stated Rick Mills, CEO of Creative Realities.

Creative Realities helps clients use place-based digital media to achieve business objectives such as increased revenue, enhanced customer experiences, and improved productivity.

Price Action: According to data from Benzinga Pro, Creative Realities shares were down 1.36%, trading at $2.17 at the time of publication. The stock has a 52-week high of $2.69 and a 52-week low of $1.65.

As of publication, the daily volume for the stock was at 525.5k, up from the 100-day average of 26.6k.