The RPMGlobal Holdings Ltd (ASX: RUL) share price is breaking a new record on Friday morning. This comes after the mining software company announced a sales update for the 2021 financial year.
After surging 5% to touch an all-time high of $1.825 in opening trade, the RPMGlobal share price is currently trading at $1.80, up 3.76%.
How is RPMGlobal performing?
Investors are buying up RPMGlobal shares following the company’s latest release to market.
In today’s statement, RPMGlobal revealed trading conditions have continued to be positive, resulting in an overall stronger FY21 financial performance.
The company advised that total contracted value (TCV) from software subscriptions sold and software revenue from perpetual licence contracts totalled $52.9 million. This is an increase of $9.5 million from when the company reported its sales update on 18 June 2021.
Unaudited figures indicate that TCV achieved $47.7 million, up $13.2 million from FY20 ($34.5 million). In addition, annual recurring revenue (ARR) from software subscriptions stands at around $21.9 million per year. This reflects a significant uplift from the $12.7 million in ARR attained in the prior comparable year.
However, perpetual software licence revenue sold during FY21 finished slightly lower at $5.2 million. The company recorded $6.9 million in software licence sales at the end of FY20. Around $2.2 million has been sold since the last reported sales update 2 weeks ago.
RPMGlobal is expecting to release its FY21 full-year results sometime in late August.
About the RPMGlobal share price
It has been a great 12 months for RPMGlobal investors, with the company’s shares accelerating by more than 70%. In 2021 alone, the RPMGlobal share price has posted gains of around 35%, signifying positive sentiment.
Based on the current price, RPMGlobal has market capitalisation of roughly $397 million, with approximately 229 million shares on issue.
The post Why the RPMGlobal (ASX:RUL) share price hit an all-time high today, up 5% appeared first on The Motley Fool Australia.
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More reading
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended RPMGlobal Holdings. The Motley Fool Australia has recommended RPMGlobal Holdings. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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