Etherstack plc has secured a groundbreaking seven-year Master Supply Agreement with AT&T Services Inc. Under the deal, Etherstack’s US subsidiary will provide advanced telecommunications solutions built around Mission Critical Push-to-Talk (MCPTT) technologies. Central to this agreement is Etherstack’s proprietary LMR-IWF (InterWorking Function) product along with associated services. The contract guarantees Etherstack a minimum of US$2.5 million per annum in support and service fees, with potential extensions based on performance. Starting from the 2026 fiscal year, the company may also benefit from variable revenues linked to subscriber volume and professional services requests, though these figures are not yet quantifiable. The announcement highlights that the contract is expected to contribute approximately US$4 million to Etherstack’s revenue in fiscal year 2025, including US$2.37 million already reported in the first half of the year. This deal reinforces Etherstack’s position in the highly competitive field of mission critical communications, where its technologies are deployed in sectors such as public safety, defence, utilities, transportation, and resources. With its international footprint spanning key innovation hubs, Etherstack appears well-positioned to capitalize on the growing global demand for secure and reliable communications networks. From a market sentiment perspective, bullish observers may view the agreement with AT&T as a significant endorsement of Etherstack's technology and a catalyst for steady recurring revenue. The long-term nature of the contract and the potential for performance-based additional income provide attractive signals for growth and stability. Conversely, bearish sentiment might stem from uncertainties over the quantifiable impact of the variable revenue streams and the inherent risks associated with long-term contracts in a rapidly evolving technological environment. Overall, the deal marks an important milestone for Etherstack plc, with notable implications for both its technological credibility and financial performance.