I give up. It's a portion of their total Comcast revenue, but yes the program that accounted for $4.9M in revenue last quarter is going away. They're winding it down. Do you understand winding down a program? Anyway I'm tired of arguing this. Good luck on SPRT!
Comcast Cable
The Company is a party to that certain Master Services Agreement Call Handling Services (the “Master Agreement”) dated October 1, 2013 with Comcast Cable Communications Management, LLC (“Comcast”). Under the general terms of the Master Agreement, the Company and Comcast also enter into individual agreements, or statements of work, that provide additional terms applicable to individual client programs. The Company and Comcast entered into Statement of Work #1 dated October 1, 2013 (the “Statement of Work #1”) pursuant to which the Company provided high speed Internet repair ("HSI Repair") and Wireless Gateway technical support ("Wireless Gateway Support") to Comcast end-customers.
On November 21, 2019, the Company received an initial written notice from Comcast notifying of Comcast’s intent to terminate a portion of the support related to a specified business unit of Comcast and the customer support that this business unit provides to its end-customers, effective on March 21, 2020. Since receiving the initial notice, the Company has been in discussions with Comcast to obtain more information about Comcast’s intent and the wind down of the program to better understand the scope of the proposed termination. For the three months ended September 30, 2019, the revenue derived by the Company that was attributable to this program for this Comcast business unit was approximately $4.9 million.
The Master Agreement, including Statement of Work #1, between the Company and Comcast Cable and all other client programs were not terminated by Comcast and remain active at this time. Although the volume of business done with Comcast will be reduced, the Company believes its remaining business with other business units of Comcast is not impacted by this most recent notice from Comcast.
