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K2fly Limited (ASX:K2F) sells enterprise software and services across a range of ESG solutions to the mining sector. ESG is an increasing focus for not only mining companies but other stakeholders including shareholders and the broader community, and in many instances K2F has the only ‘off-the-shelf’ solutions in the market currently. The recent September quarter saw annualised recurring revenue (ARR) reach $6.5m, 8% above June 2022 and 59% above the previous corresponding period (pcp). This gro
Companies: K2fly Limited
RaaS - Research as a Service
K2fly Ltd (ASX:K2F) sells enterprise software and services across a range of ESG solutions to the mining sector. ESG is an increasing focus for not only mining companies but other stakeholders including shareholders and the broader community, and in many instances K2F has the only ‘off-the-shelf’ solutions in the market currently. The recent June quarter saw a number of quarterly records including record cash receipts at $5.4m (+170% on the pcp), and record operating cashflow (+$1.7m). Annualise
K2fly Ltd (ASX:K2F) has reported its FY22 results which follows on from the 4C data released in July. Revenues growth was in-line with forecast at $10.1m (+44%), with TCV and ARR already disclosed at $17.8m (+80%) and $6.0m (+76%) respectively. Gross profit was lower than forecast due to the mix between SaaS and consulting/implementation, with several large-scale implementations in FY22. We still see a step change in GP% over FY23 aided by the ARR starting base of $6.0m. Underlying operating cos
K2fly Ltd (ASX:K2F) has released its June quarter 4C which has seen records broken across the board. Cash receipts at $5.4m (+170% on the pcp) and operating cashflow +$1.7m were clear quarterly records. Annualised Recurring Revenues (ARR) reached $6.0m in June 2022, 76% above FY21 and above our $5.8m estimate. Relative to our assessed peer group this represents the highest growth rate over FY22. Cash at bank ended at a record $8.3m, aided by both a recent strategic placement and the seasonally s
K2fly Ltd (ASX:K2F) has announced its first contract with BHP, a one-year total contract value (TCV) of $2.1m to use its ground disturbance solution for BHP’s Pilbara iron ore division. With ARR of $620k, a three-year contract would represent a TCV closer to $3.4m by our estimates and equal the largest contract ever signed by K2F. Since the December half-year K2F’s ARR has increased 20% (to $5.8m) with the signing of contracts with South32 (Decipher), Freeport McMoRan (RCubed) and now BHP to exc
K2fly Ltd (ASX:K2F) is an enterprise software and services provider of a range of environment, social and corporate governance (ESG) solutions for the mining industry. While revenue details have largely been pre-disclosed, and addressed in our previous note (2 February 2022), the H1 FY22 result release reveals: (1) Some gross margin pressure due to higher consulting wage costs; (2) ~$0.6m or 20% higher than forecast operating costs; and (3) Continued spend on new product development ($2.4m over
K2fly Ltd (ASX:K2F) is an enterprise software and services provider of a range of environment, social and corporate governance (ESG) solutions for the mining industry. Its December quarter 4C relative to current RaaS estimates reveals: (1) Cash receipts, ARR and TCV assumptions are in-line, with growth on the PCP of 60%, 100% and 180% respectively; (2) Staff costs were higher than forecast as the company scales in anticipation of further contracts and spends more on recruitment fees; and (3) Con
K2fly Ltd (ASX:K2F) is an enterprise software and services provider across a range of environment, social and corporate governance (ESG) solutions for the mining industry. The group currently has nine solutions on the market which include resource and reserves reporting, land management and tailings management. The combination of acquiring niche software with existing users, continuous improvement of product features, and utilising a five-person-strong internal sales team to sell products into b
K2fly Limited (ASX:K2F) is a technology company providing enterprise grade software and consulting/implementation services, predominantly to the resources sector, and more particularly across key aspects of Environmental, Social and Governance (ESG) functions. The group currently has a suite of 9 solutions across four proprietary technologies which it delivers under a Software-as-a-Service (SaaS) recurring revenue model. Infoscope (acquired July 2017) is a Land Management System providing comple
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