Australian mining software company RPMGlobal says it has increased recurring subscription licence sales 13% year-on-year to A$54.1 million in FY22.
The ASX-listed company, which also has a mining consulting arm, said one-off, perpetual software licence sales dipped from $5.2m in FY21 to only $1.8m in the 12 months to June 30 this year while the recurring licence business surged. “The company successfully continued its transition from perpetual licence sales to subscription licence sales over the last 12 months,” it said.
RPMGlobal finished FY22 with a total contracted value (TCV) of software sales at $55.9m.
Meanwhile, the company’s annually recurring software revenue rose by about one-third in FY21 to $32.8m.
“The company now has $95.5m in pre-contracted non-cancellable software subscription revenue, which will be recognised in future years, up $29.8m from the same time last year,” RPMGlobal said.