K2fly Limited (ASX: K2F) is an ASX listed technology company offering cloud accessible enterprise-level technical assurance and reporting solutions across all aspects of the environmental, social and governance functions. The company offers an integrated software ecosystem for the management of physical assets in asset-intensive industries such as mining, oil & gas, utilities and agriculture sectors.
Headquartered in Subiaco, Western Australia, the company offers multiple Software as a Service (SaaS) solutions, such as Infoscope, RCubed, the SATEVA Suite and Decipher across Tier 1 and Tier 2 miners globally. These SaaS offerings have been deployed in more than 54 countries and across more than 500 sites.
InfoScope is a cloud-based data collaboration platform suitable for companies of all sizes. It is used by customers in various sectors such as mining and materials, energy, utilities, infrastructure, cultural and environmental.
RCubed is a cloud-based resource and reserve reporting solution that helps in reducing overhead and improves efficiencies and accountability for the teams involved in mineral resource inventory.
The company’s operations are classified into three operational areas - owned software, third party software, and consulting services. The company sells software licenses under a Software-as-a-Service business model. It is actively engaged in the direct sale of its own intellectual property rights (IPR) as well as the sale of third party IPR through its partnership arrangements.
K2fly provides its owned software to customers as a service either on the customer’s infrastructure or cloud hosted infrastructure sourced by the group. It is provided on a perpetual licence along with an annual support and maintenance arrangement.
The group provides third-party software to customers as a service either on the customer’s infrastructure or cloud hosted infrastructure.
The company also offers a range of services to customers on a ‘time and materials’ basis where the customer pays for the actual time spent by the group’s consultants delivering the service based on an hourly or daily rate. The company considers these services to be transactional services for which revenue is recognised over time when control of the services has transferred to the customer over time.