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INS - Intelligent Systems estimates Q4 license revenue
S&P Insurance Select Industry Index
Extending its Q3 strong demand, Intelligent Systems (INS) announced that a major customer has reached another license tier ahead of expectations.For Q4, the company forecasts to recognize license revenue of ~$2M which is comparable to 3Q20 license revenue; FY20 revenues are expected to reflect continued Y/Y growth.Intelligent Systems no longer expects to recognize license revenue in 1Q21.Looking ahead, the company still projects, from customer work currently in progress, additional significant license revenue in the 2H21.