RPMGlobal (ASX:RUL) flags jump in software subscriptions for FY21

• Mining software solutions company RPMGlobal (RUL) is expecting a further increase to its FY21 total contracted value (TCV) software subscriptions
• Software subscriptions sold and revenue from perpetual licence contracts have totalled 52.9 million, with $9.5 million sold since June 18
• RPM is expecting to finish the financial year with TCV from software subscription at $47.7 million, an increase of $7.3 million from RPM’s last announcement on June 18
• The company is expecting to release its full-year results in late August
• On the market this morning, RPM is in the grey trading at $1.73 per share

RPMGlobal (RUL) is expecting a further increase to its FY21 total contracted value (TCV) software subscriptions.

Software subscriptions sold and revenue from perpetual license contracts have totalled 52.9 million, of which $9.5 million has been sold since June 18.

The mining software solutions company is expecting to finish the financial year with TCV from software subscription at $47.7 million, which is a jump from last year’s $34.5 million.

Notably, this is an increase of $7.3 million from RPM’s last announcement on June 18.

Currently, RPMS annual recurring revenue from software subscriptions is $21.9 million per annum, a huge jump from 2020’s $12.7 million per annum.

Perpetual software licence revenue sold during FY21 finished at $5.2 million, with $2.2 million sold since June 18.

RPM is expecting to release its full year results in late August.

On the market this morning, RPM is in the grey trading at $1.73 per share at 10:04 am AEST.