News Articles for K2fly

Perth software companies INX Software and K2fly have completed their merger, rebranding as Quartex while also committing to remaining headquartered in Perth.

Two major Perth tech businesses are set to join forces to form one of Australia's largest providers of mission-critical software for high-risk industries.

Mining technology business K2fly has delivered a 20 per cent boost to its annual recurring revenue, with new sales and contract renewals driving the key performance metric from $7.5 million in the fourth quarter of FY23 to $9 million in the fourth quarter of FY24. Cash receipts from customers of $4.6 million also jumped by 28 per cent during the same period.

ASX-listed K2fly's cloud-based software solution that audits mineral inventories has attracted as new customer, with Canadian company Lundin Mining committing to a new three-year, $661,000 agreement. The deal – which has an annual recurring revenue value of $180,000 – will provide Lundin with a total mineral resource governance solution to be delivered at the corporate level, covering all of the company's material reporting sites.

Mining software provider K2fly's shares hiked 85 per cent today after revelations emerged that the company is set to be taken over by globally-renowned, technology-focused investment firm Accel-KKR. Under the binding scheme implementation deed signed by the two companies, K2fly shareholders will be entitled to receive 19c per share – representing a massive 90 per cent premium on the company's previous closing price of 10c.

Mining software provider K2fly has recorded a remarkable 15 straight quarters of annual recurring revenue (ARR) growth, which it says has been driven by contract renewals from two major clients. According to its March quarterly report, the company delivered an ARR of $8.3 million in the first three months of the calendar year, representing a 19 per cent increase compared to the previous corresponding period.

The world's largest iron ore and nickel producer, Brazilian powerhouse Vale, has contracted Perth based ASX-listed company K2fly to supply its unique mining software across 69 of its sites for at least three years. The deal will add almost half a million dollars a year to K2fly's all important “annual recuring revenue” figure that many software as a service companies are judged on.

Software provider K2fly says cost management remains its major focus as the company's latest financial report today revealed a remarkable 14th consecutive quarter of annual recurring revenue growth. The ARR was at $8 million in the past quarter, up 16 per cent compared to the previous corresponding period (PCP) and revenue was at $3.4million, up 21 per cent from the PCP.

Software provider K2fly has initiated a sweeping strategic review of its operations in a swift boardroom move designed to maximise the full potential of its innovative resource governance software solutions. After posting 13 quarters of increasing revenue on the trot, K2Fly has vowed not to sit on those laurels and has appointed Argonaut PCF and Atrico as joint advisors to steer its review.

K2fly has grown its annual recurring revenue (ARR) for a 13th straight quarter, revealing a 6 per cent jump up to $7.9 million in the company's latest financial disclosure … and it says there is still room to expand. Management says ARR was up 22 per cent on last year's corresponding quarter, while comparative revenue increased by 29 per cent.

Our weekly appointments wrap includes Wes Smith, Basil Lenzo, Nathan Harman, Chiara Pacifici, Joe Totaro, Kristie Young, Steven Lawrence, Neale Fong, Peter Mansell, Lee Guthrie, Paul Lombard and Sandra Bell.

Software provider K2fly has revealed a steady stepladder towards profit-making after its latest financial year report showed healthy revenue of $12.8 million – a jump of 28 per cent on the previous period. The company's positive result was bolstered by a 25 per cent increase in annual recurring revenue up to $7.5 million, putting its three-year compound annual growth rate at 48 per cent.

ASX-listed mining software provider K2fly has unveiled revenue of $4m for the final quarter of the financial year – a 38 per cent rise from the same period last year and up 18 per cent on the previous quarter. Management says the strong results wrapped up a solid year of growth, which saw revenue grow 28 per cent compared to the previous 12 months.

K2fly has inked a five-year deal, projected to have a total contract value of $2 million, with the world-class Roy Hill iron ore operation in Western Australia's Pilbara region. The agreement marks the second of two contracts signed with major Pilbara operators for its “ground disturbance” solution in less than a month, having secured a three-year contract extension with BHP in June.

ESG software provider K2fly will continue to supply mining behemoth BHP with its “ground disturbance” solution for another three years after the “Big Australian” agreed to a contract extension. Management says the new deal will generate annual recurring revenue of $664,000 and has a total contract value of $1.99 million. The deal will cover the global miner's iron ore operations in Western Australia's Pilbara region.

Mining software provider K2fly will supply Eramet SA with its resource disclosure solution after the French-owned miner signed a three-year deal worth $564,000 to cover its five operations and four commodities. Management says the partnership will provide an annual recurring revenue of $152,000 and it is hopeful the key relationship will lead to future opportunities in a growing prospective region.

ASX-listed mining software provider K2fly has unveiled revenue of $3.4m for the third quarter of the financial year – a 19 per cent rise on the company's income from the previous quarter. The company says the figure was a 35 per cent jump on the corresponding period last year and put the result down to freshly-inked contracts and “go live” milestones.

Mining software provider K2fly has reported revenue of $5.4m for the second half of 2022 – a 19 per cent rise on the company's revenue for the same period in 2021. The company has products at work in 62 countries and regards its revenue growth as testament to the success of its strategy of focusing on Tier 1 and 2 global mining companies.

A string of major contract wins with mining heavyweights Rio Tinto, Mineral Resources, Anglo America and ArcelorMittal Mining UK has seen mining software provider K2fly achieve record highs for the December quarter in its core financial metrics. Sales of $2.8 million for the quarter were up 33 per cent from the same period last year and the company also hit historic highs in the all important “annual recurring revenue” metric.

Technology is helping to empower Indigenous communities.

Mining software supplier K2fly has secured a three-year deal worth more than $1 million with British-based multinational Anglo American for its Resource Disclosure solution. The deal is the Subiaco-based company's first with the global miner but just the latest in a raft of tier 1 mining companies K2fly has captured in recent weeks.

K2fly has landed another big fish with a world-leading steel and mining multinational company signing up for two products from the Subiaco-based software provider's Mineral Resource Governance platform. The five-year agreement with ArcelorMittal Mining UK, the mining arm of the ArcelorMittal group, is worth almost $2 million and adds to sales in the past week to tier 1 miners Rio Tinto and Mineral Resources.

Subiaco-based mining software provider K2fly has signed Mineral Resources to a three-year contract worth $1.75 million. The deal will cover Mineral Resources' iron ore and lithium operations and it comes hard on the heels of K2fly expanding its work with another tier 1 miner, Rio Tinto. The company's software products aim to support clients' ESG issues.

Software business K2fly has been contracted by Rio Tinto for another of its mining packages, the resources giant signing on for its Reconciliation Module in a three-year deal worth $360,000. It's the first sale of the product to any tier 1 miner and the sixth software solution the Subiaco-based company has sold to the global diversified company.

Ecocene blends a traditional environmental consultancy with new technology.

Mining software provider K2fly has tabled some healthy numbers from the September quarter with the company achieving record highs in its core metrics thanks to continued major tier 1 contract wins. The company operates in the global resources space under a ‘Software as a Service' business model – meaning its product is delivered on a subscription basis.

Our board moves wrap includes Robert Hubbard, Peter Coleman, Martin Rowley, Dylan Roberts, Rick Anthon, Oonagh Malone, Peter Main, Sam Lee Mohan, Stuart Carmichael, Rod Evans, Jenny Cutri, James Deacon, Pauline Vamos, Louis Chien, Lionel Liew, and Patrick Walta.

ASX-listed mining software provider K2fly has strengthened its ties with Imerys Group after inking a three year contract for use of its Land Access solution. The three year deal has a total contract value of $860,000 and an annual recurring revenue of $123,000 in exchange for a system that manages land access, studies, approvals, stakeholder engagement, operations and land use.

Fortescue Metals Group has extended its deal with software developer K2fly with an additional six-month contract worth $1.2m for the provision of mining software development services. The mining giant has been a long-term customer of K2fly, utilising its software to navigate regulatory requirements of the increasingly important environmental, social and governance landscape.

Mining software provider K2fly will launch a new technology platform later this year, capitalising on its experience gleaned from working with tier 1 and 2 miners in the increasingly critical environmental, social and governance sector. The company also unveiled collaboration to leverage its technology with Maptek, an organisation recognised as one of the world's biggest private mining software companies with clients in 95 countries.

ASX-listed mining software firm K2fly has tabled record growth in key metrics for the June quarter and the 2022 financial year after continuing its hot streak of contract wins. The company posted record results in annual recurring revenue, invoices raised and cash receipts in addition to closing out the financial year with a cashflow-positive quarter of $1.7 million.

Our board moves wrap includes Gary Phillips, Lisa Wynne, Sarah Sutcliffe, Adrian Gurgone, Brian Miller, Tara French, Bob Osmetti, Mark Calderwood, Nicholas Katris, Jessamyn Lyons, John Madden, and Tom Eadie.

Mining software developer K2fly has sealed a one-year deal worth $2.12 million with BHP to roll out its ground disturbance solution data management system to the mega-miner's iron ore operations in the Pilbara region of Western Australia. The company now provides its ground disturbance solution to the three biggest iron ore players in WA, with Rio Tinto and Fortescue Metals Group also on the roll call.

K2fly has tabled some healthy numbers from the March quarter with record invoices of $3.3m, maintaining its all-time high total contract values of $16.6m and cracking the $5m mark in annual recurring revenue for the first time. The company operates in the global resources space under a ‘Software as a Service' business model – meaning it delivers its software on a subscription basis.

After successfully shaking the tin for $6.2m, K2fly now has the largest privately owned mining software provider in the world on its register. Australian based Maptek has emerged from K2fly's latest capital raise with a 13.2 per cent holding in the ASX-listed mining software player. The deal also includes Maptek Chairman Peter Johnson taking a seat on the K2fly board as a non-executive director.

Subiaco-based software business K2fly has won work to roll out its resource governance solution across NYSE-listed Freeport-McMoRan's global operations.

ASX-listed K2fly has inked a $768,000 three-year contract with Freeport-McMoRan to provide its unique cloud-based “RCubed” mineral resource governance platform across all twelve of Freeport's global operations. Freeport is the 16th client to use K2fly's RCubed software that K2fly says is the only commercial solution of its type available anywhere in the world.

New research covering more than 600 businesses paints the most detailed picture assembled of WA's startup and tech sectors.

Mining software solutions provider K2fly has released impressive second quarter results for the 2022 financial year showing strong annual recurring revenue and order book growth combined with increasing deal size. K2fly also had its largest ever contract win signing Rio Tinto to a $3.44 million contract whilst Glencore also renewed an existing contract. Invoices were up 58.5 per cent from the same quarter last year.

Mining focused software-as-a-service provider, K2fly has extended a pre-existing contract for its ‘RCubed Resource & Reserves Solution' platform with global mining giant, Glencore Canada by three years. The agreement is set to contribute A$443,000 in total contract value and A$130,00 in annual recurring revenue to K2fly's coffers, with Glencore to use the product for its global zinc operations at 56 sites across seven countries.