Australian mining software and consulting company RPMGlobal is forecasting stronger FY24 revenue and EBITDA after reporting 18% year-on-year growth in its FY23 revenue to A$98.4 million and doubling EBITDA to $15m.
The Queensland-based company is guiding for FY24 revenue in the range $105-110m, and EBITDA of $17.5-19.5m.
RPMGlobal said revenue from software subscriptions climbed 50% yoy in FY23 to $39.3m. Total software revenue, including related services, was up 18% yoy at $66.1m. The company lifted its investment in software development by $1.7m to $18.2m in FY23.
Mining advisory contributed $31.3m of revenue in FY23, up 18% yoy.
“During the year the company sold $70.5m in software TCV [total contract value] revenue, of which only $7.8m was recognised as revenue in FY23 with the balance to be recognised across future years,” RPMGlobal said.
The company had $132.2m of pre-contracted software licence and maintenance revenue booked at the end of June, up $29.1m yoy.
It had $34.8m net cash on its balance sheet at the of FY23.
Share price down more than 3% Monday at $1.58, capitalising the company at $361 million.