Why the RPMGlobal (ASX:RUL) share price will be in the spotlight today

The mining software company's shares could be on the move today…

industrial asx share price on watch represented by builder looking through magnifying glass

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

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.

More on Technology Shares

A young woman lifts her red glasses with one hand as she takes a closer look at news about interest rates rising and one expert's surprising recommendation as to which ASX shares to buy
Technology Shares

WiseTech share price higher on big news

This tech stock has found its new leader.

Read more »

Man holding a calculator with Australian dollar notes, symbolising dividends.
Technology Shares

$10,000 invested in DroneShield shares 5 years ago is now worth…

You might be laughing all the way to the bank if you had done this.

Read more »

Happy woman working on a laptop.
Technology Shares

Up 60% since April, why this $40 billion ASX 200 tech stock remains a 'compelling buy' today

A leading expert believes this $40 billion ASX 200 tech stock has a lengthy growth runway ahead of it yet.

Read more »

A man holds his head in his hands, despairing at the bad result he's reading on his computer.
Technology Shares

DroneShield shares sink 7% despite big news

Let's see what's going on with this market darling on Thursday.

Read more »

A man activates an arrow shooting up into a cloud sign on his iPad.
Technology Shares

Up 25% since April, is it too late to buy Xero shares today?

A leading expert gives his verdict on the growth outlook for Xero shares.

Read more »

Man looking at digital holograms of graphs, charts, and data.
Technology Shares

2 amazing ASX tech shares I wish I'd bought last year

These tech companies are among the world’s best companies.

Read more »

A man in a business suit and tie places three wooden blocks with the numbers 1, 2, and 3 on them on top of each other.
Broker Notes

3 reasons to buy this booming ASX All Ords tech stock today

A leading broker forecasts more gains to come from this surging ASX All Ords tech stock.

Read more »

Man ponders a receipt as he looks at his laptop.
Technology Shares

Brokers rerate 3 leading ASX 200 tech stocks

Experts reveal their ratings on the ASX 200 tech sector's three biggest companies.

Read more »