Consulting Systems Integrator, K2fly Signs Westgold in 5-Year Partnership & Subscription Deal

  • Dec 19, 2019 AEDT
  • Team Kalkine
Consulting Systems Integrator, K2fly Signs Westgold in 5-Year Partnership & Subscription Deal

Technology company, K2fly Limited (ASX: K2F), focussed on serving the asset intensive industries announced on 18 December 2019, that Westgold Resources Limited (ASX: WGX) has signed a long term contract to utilise the existing Infoscope software and partner with K2fly to develop additional enhancements of the software with a view to integrating Westgold’s tenement and titles’ management applications.

The contract, subject to normal commercial termination and default clauses, now includes royalties, contracts, permits, licensing, environmental and stakeholder management to provide a consolidated management tool.

Westgold Resources is well-known as one of the largest regional consolidations within the gold sector, operating three (3) gold production hubs in Murchison Region of Western Australia. The Group is managing more than 350 titles and a complex set of resources including mineral deposits; road and infrastructure networks; licenses, permits, service contracts and stakeholder engagements.

K2fly’s Business Segments

Infoscope

Infoscope, an Enterprise Land Management, Natural Resource Governance and Stakeholder Relations solution for the Energy and Resources market offers a high level of efficiency and a smarter way for small and large enterprises to manage land and maintain their social license to operate through the delivery of governance, risk and compliance. It engages the stakeholders with Spatial Intelligence and is integrated with SAP HANA & Esri’s ArcGIS.

K2fly Total Contract Value (TCV) from the SaaS business segment has continued to be on an uptrend over the last few months, increasing sharply from AUD 1.275 million in Q1 FY20 to AUD 3.504 million in Q2 FY20, depicting a significant uptick of 174% in the quarter-to-date as the contract terms extend.

As of the date of the announcement, the Annual Recurring Revenue (ARR) has risen by around 29% to AUD 1.453 million, maintaining the dynamic business momentum. The company is expecting the trend to continue as many multi-year contracts and major new software developments are in the pipeline. While the potential contracts are still in negotiation, K2flly will inform the market as they materialise in due course.

Management Commentary

Nic Pollock, K2fly CEO

Stock Performance: K2fly’s market capitalisation stands at around AUD 20.09 million with ~ 82.01 million shares outstanding. On 19 December 2019, the K2F stock was trading at AUD 0.0242 with approximately 85k shares traded at AEDT 01:41 PM. Besides, K2F has delivered positive returns to its shareholders, including 88.46% Year-to-date, 36.11% in the last six months and 28.95% in the last three months.

Read More

Vancouver Based Resource Company, Teck Resources Renews K2fly RCubed Contract for 3 years

Understanding the Ground-Breaking Technology SaaS: K2fly Seizing the Market Opportunity


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above article is sponsored but NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. We are neither licensed nor qualified to provide investment advice through this platform.

 

All pictures are copyright to their respective owner(s).Kalkinemedia.com does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.

 

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

CLICK HERE FOR YOUR FREE REPORT!
   
x
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK