Another confirmation of sustained momentum. When one considers that the declared TCV achievement excludes any ‘perpetual license’ contracts, this signals a very healthy uptake of their subscription offering. Yes, they did say their new Subscription business would partly cannibalise the Perpetual Licensing business. However where Country Risk exists the PL offering will remain.
Couple of other observations. Given a constant time frame of 19 Nov to 22 Jan (essentially 2 months), if TCV increases by $ 7.3 m and ARR increases by $ 2 m, can we deduct that their average contract period is approx. 3 years ? If so, adds considerable weight to the value of ARR.
Second point. The release of their new ‘real time’ mine design software was end CY2019. Begs the question, are we seeing the inclusion of first contracts for the new software offering. They said this would be a ‘game changer’ for the mining industry. Maybe this is just the start of much more to come. Certainly, their comment on future reporting of TCV infers increased expectation.... $ 5 m increments.
Nice response to the news this morning, with the SP lifting to above $1. Stage is set !!
Rokewa
RUL Price at posting:
$1.01 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)