The RPMGlobal Holdings Ltd (ASX: RUL) share price is rebounding today after tanking more than 6% the past three consecutive trading days.
This comes after the mining software company announced a sales update for the 2022 financial year.
At the time of writing, RPMGlobal shares are up 4.43% to $1.65 each after reaching a high of $1.70 apiece this morning.
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How is RPMGlobal performing?
Investors are bidding up the RPMGlobal share price as investors digest the company's latest financial performance report.
In an announcement today, RPMGlobal revealed that trading conditions continued to be positive, bringing an overall stronger FY22 result.
As such, total contracted value (TCV) from its software license sales topped $55.9 million for the 12 months ending 30 June. This represents an increase of $5.6 million from the company's previous market update on 27 June.
Furthermore, RPMGlobal stated that perpetual software licenses revenue came to $1.8 million, despite less one-off product licenses sold in FY22. This is opposed to the $5.2 million that was achieved in the previous corresponding period.
Despite that fall, revenue from recurring subscription license sales improved by $6.4 million to $54.1 million in FY22.
The company noted the successful transition from perpetual license sales to subscription license sales over the past 12 months.
Lastly, annually recurring revenue (ARR) from software subscriptions totalled $32.8 million, up $10.9 million from the start of FY22.
Management advised that there is now $95.5 million in pre-contracted non-cancellable software subscription revenue. This is 45% higher than the $65.7 million recorded from the same time last year.
Investors might want to keep a close eye on RPMGlobal shares as the company expects to release its FY22 audited results next month.
RPMGlobal share price summary
Regardless of today's positive outcome, the RPMGlobal share price has struggled to take off over the last 12 months.
The company's shares have mostly traded sideways to register a loss of 9% for the period.
Although, when looking year to date, RPMGlobal shares are down 23% due to a broader market decline across the ASX.
Based on its current share price, RPMGlobal has a market capitalisation of roughly $383 million.
