The RPMGlobal Holdings Ltd (ASX: RUL) share price will be one to watch on Friday.
This follows the release of an update in relation to the mining software company’s sales for FY 2021.
What did RPMGlobal announce?
RPMGlobal shares will be in focus today after the company revealed its current trading conditions have been stronger than the previous year.
The company provided an update on total contracted value (TCV) and annual recurring revenue (ARR) for subscription software sales.
During FY 2021, RPMGlobal has achieved $40 million in TCV software subscriptions, with $40.4 million recorded year to date. This is an increase of $9 million from when the company reported $31.4 million in TCV sales early last month.
ARR from software subscriptions has also grown to $21.5 million, up from $20.1 million on 4 May 2021.
What does RPMGlobal do?
Founded in 1968, RPMGlobal provides advisory consulting, training and software for the mining and related services industries. The group operates across 3 segments, namely software, advisory, and GeoGAS.
The software division integrates planning and scheduling with maintenance and execution, and simulation and costings for mining companies.
Next up, the advisory division comprises consulting and advisory services, delivering expertise on technical mining papers. This provides insights into geology, engineering and environmental, social and governance factors, as well as mining logistics to resource companies.
And finally, the GeoGAS division provides services to coal mining customers such as gas content testing and relevant consulting services.
RPMGlobal share price summary
Over the last 12 months, the RPMGlobal share price has accelerated by almost 60%. In 2021, the company’s shares have lifted by nearly 30%.
Last Thursday, RPMGlobal shares hit a milestone all-time high of $1.735. It’s worth noting that at the current price of $1.66 before market open, they could break a new record today if investors respond positively to the company’s latest update.
RPMGlobal has a market capitalisation of roughly $380 million, with approximately 229 million shares on its registry.