Pareteum +20% after announcing record backlog for 2017

|About: Pareteum Corporation (TEUM)|By:, SA News Editor

Pareteum (NYSEMKT:TEUM) -- making most of its moves lately due to its tiptoes into blockchain capabilities -- is up 20.3% this morning after noting it wrapped 2017 with a record revenue backlog.

The company (the former Elephant Talk Communications) executed deals that bring total 36-month contractual revenue backlog to $147M, after signing 28 new agreements in 2017.

Those new deals made up $117M of the backlog.

Q4 marks a 58% sequential gain in contract agreement executions, and compound annual growth rate of the backlog is 389% since Jan. 1, 2017, the company notes.