RPMGlobal (ASX:RUL) shares gain on software sales update

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RPMGlobal (ASX:RUL) shares gain on software sales update

 RPMGlobal (ASX:RUL) shares gain on software sales update
Image source: © Buranatrakul | Megapixl.com

Highlights

  • Shares of RPMGlobal surged by over 3% to trade at AU$1.70 during early trading hours on Monday.
  • On a year-to-date basis, the total contract value (TCV) from the sales of software licence has reached AU$50.3 million.
  • The company is expected to launch five new software products in financial year 2022.

On Monday, ASX-listed software and service company, RPMGlobal Holdings Limited (ASX:RUL) shared an update on software licence sales for the financial year 2022 (FY22) on a year-to-date basis.

Following this update, shares of RPMGlobal were spotted trading 3.06% higher at AU$1.70 apiece at 10:28 AM AEST on the ASX.

Details of the software licence sales update

Through today’s ASX announcement, RPMGlobal has informed its shareholders that the total contract value (TCV) from the sales of software licence has reached AU$50.3 million on a YTD basis. TCV from software licence sales has increased by AU$2.9 million in just two weeks. The TCV includes AU$1.7 million from perpetual license contracts.

RPMGlobal reported an AU$0.5 million increase in the annual recurring revenue from software subscriptions over the last two weeks. Now, it has reached AU$31.6 million.

The mining technology company said that it has AU$90.0 million in pre-contracted non-cancellable software subscription revenue. Reportedly, it would be recognised in coming years.

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RPMGlobal share price performance

In past one year, the share price has dipped by 4.26%. The shares sank by over 20% on YTD basis, and in last six months, the share dipped by 23%.

In last five years, the shares have managed to gain 206%.

Financial performance of RPMGlobal

In the first half of FY22, the company has delivered total revenue of AU$40.5 million, up by 12% in comparison to the previous six months (2HFY21). The subscriptions increased by 26% to AU$11.5 million in comparison to 2HFY21. The advisory reached AU$12.8 million during the half.

The underlying operating EBITDA surged by 457% to AU$3.9 million. The net operating revenue surged by 12%, with a 2% increase in the operating expenses.

Image source: © Vladthefool | Megapixl.com

Meanwhile, the company shared that it expects a significant increase in software sales with the opening of borders in mining countries. Also, the company expects to record considerable sales revenue with the five new software products scheduled to be released in FY22.

About RPMGlobal

RPMGlobal offers mining software, technical consulting, mining advisory services and training in the area of mine planning. According to the company’s official website, the company has been delivering advisory and consulting services and technical software for more than five decades.

The strategic focus of RPMGlobal is to deliver mining productivity through innovative service offerings and technology enablement. The company guide its customer through emerging changes in the industry. In addition to this, the company help its customers in meeting the shift in social norms and investors’ expectation of zero-carbon.

Suggested reading: 10 buzzing ASX-listed critical metal stocks to power new energy future

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