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Bulls N' Bears 22 Jul 2024

K2fly reveals 20 per cent growth in recurring revenue

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.

Bulls N' Bears 24 Jun 2024

K2fly to cash in on new software deal with Canadian miner

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.

Bulls N' Bears 21 Jun 2024

K2fly shares soar on the back of binding buyout deal

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.

Bulls N' Bears 30 Apr 2024

K2fly hits 15 straight quarters of recurring revenue growth

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.

Bulls N' Bears 12 Apr 2024

World’s biggest iron ore producer contracts K2fly software

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.

Bulls N' Bears 30 Jan 2024

K2fly records 14th consecutive quarter of ARR growth

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.

Bulls N' Bears 01 Nov 2023

K2fly grows annual recurring revenue to $7.9m

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.

Bulls N' Bears 25 Jul 2023

K2fly financial year revenue surges 38 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.

Bulls N' Bears 14 Jul 2023

K2fly inks five-year partnership deal with Roy Hill

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.

Bulls N' Bears 20 Jun 2023

BHP agrees to three-year deal extension with K2fly

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.

Bulls N' Bears 20 Apr 2023

New contracts see K2fly boost revenue growth by 19 per cent

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.

Bulls N' Bears 23 Jan 2023

Major contracts round off strong quarter for K2fly

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.

Bulls N' Bears 12 Dec 2022

K2fly lands three-year deal with global miner

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.

Bulls N' Bears 28 Nov 2022

K2fly inks deal with world-leading steelmaker, mining company

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.

Bulls N' Bears 22 Nov 2022

K2fly signs up MinRes in $1.75 million software deal

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.

Bulls N' Bears 21 Nov 2022

K2fly snares Rio for another software contract

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.

Bulls N' Bears 01 Nov 2022

K2fly breaks more records in latest quarter

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.

Bulls N' Bears 30 Sep 2022

K2fly seals new three-year deal for management software

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.

Bulls N' Bears 28 Sep 2022

Fortescue tops up K2fly software contract

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.

Bulls N' Bears 22 Aug 2022

K2fly unveils new ESG software platform and collaboration

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.

Bulls N' Bears 21 Jul 2022

Big clients drive record growth for software provider K2fly

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.

Bulls N' Bears 09 May 2022

K2fly adds BHP to growing arsenal of clients

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.

Bulls N' Bears 29 Apr 2022

K2fly clocks up record quarter

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.

Bulls N' Bears 10 Nov 2021

K2fly extends lucrative Glencore mining software contract

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.

Bulls N' Bears 18 Oct 2021

K2fly delivers record quarterly revenue growth

ASX-listed software-as-a-service provider, K2fly has tabled a record 79 per cent growth in annual recurring revenue in the September quarter this year when compared to the corresponding quarter in 2020. The boost to the company's top line follows the signing of three major long-term contracts that also lead to a record 125 per cent growth in total contract value in the period.

Bulls N' Bears 05 Oct 2021

K2fly seals Rio Tinto data management deal

ASX-listed proprietary software provider K2fly has strengthened its partnership with resources giant Rio Tinto, signing a contract to apply its ground disturbance data management system across all of the miner's Pilbara sites in Western Australia. Perth-based K2fly now provides services to Rio Tinto across five of its nine product areas.

Bulls N' Bears 20 Sep 2021

K2fly locks in Sibanye-Stillwater software deal

ASX-listed K2fly Ltd has clinched a five-year contract with leading platinum, palladium and gold producer Sibanye-Stillwater, who has signed on for the implementation of the resources software-as-a-service provider's Decipher mining tailings management solution. K2fly says the South African-headquartered Sibanye-Stillwater intends rolling out K2fly's software at all of the miner's more than three dozen tailing storage facilities it operates in southern Africa and the United States.

Bulls N' Bears 17 Sep 2021

Newmont renews with K2fly

ASX-listed resources software provider K2fly Ltd has bedded down a five-year extension to its existing contract with the world's largest gold company, Newmont Corporation in relation to its resource governance software-as-a-service solution. Perth-based K2fly says the extension deal, which takes the Newmont contract period out to March 2028, has a total contract value of A$1.3 million.

Bulls N' Bears 23 Jul 2021

K2fly tables plan for executive changing of the guard

ASX-listed mining technology company K2fly has laid out plans for an executive changing of the guard with Chief Commercial Officer and veteran industry leader Nic Pollock to take the helm as Chief Executive Officer from the start of September this year. Current CEO Brian Miller says he remains committed to the company and will continue as an Executive Director.

Bulls N' Bears 08 Mar 2021

K2fly adds Coeur Mining to North American customer base

K2fly has added NYSE-listed precious metals mega-miner, Coeur Mining to its Software-as-a-Service customer base after Coeur inked a 5-year deal for the company's industry-leading RCubed Resource Inventory software. The 5-year deal to be rolled out across Coeur's five North American mine sites is worth A$718,000 over the period and has pushed K2fly's total contract value for its software as a service offering to A$8.7m.

Bulls N' Bears 04 Feb 2021

K2fly lands Rio Tinto software contract

Iron ore monolith, Rio Tinto has signed up to a 3-year software-as-a-service contract with ASX-listed tech player, K2fly. Rio will make use of K2fly's Infoscope software platform to manage very sensitive heritage information across its iron ore mining operations in Western Australia's Pilbara region. K2fly said the total contract value for the deal with Rio was set at A$719,000.

Bulls N' Bears 02 Feb 2021

Wesfarmers takes position on K2fly register in software deal

Mining software-as-a-service provider, K2fly will buy the software assets developed by an offshoot of Wesfarmers subsidiary, CSBP in an all-scrip deal that will see CSBP emerge as the major shareholder of K2fly with just over 10 percent of its register. The deal, which involves K2fly picking up the business assets of CSBP offshoot, Decipher Mining, is valued at $3.7 million.

Bulls N' Bears 25 Jan 2021

K2fly lands lucrative Alcoa contract

Software as a service provider, K2fly continues to set the pace in the mining software space adding another global name to its client list. The company has signed a lucrative contract with alumina giant Alcoa USA Corp. which will see the K2fly's innovative RCubed software implemented across six key sites globally delivering more than $570,000 into its coffers over its initial 5-year period.

Bulls N' Bears 26 Nov 2020

K2fly mining software scores elite SAP global endorsement

ASX-listed K2fly has had its Land Access, Communities and Heritage, Ground Disturbance and Rehab software K2fly Solutions certified as an Endorsed App by global business processes provider SAP. K2fly is now one of only 12 companies around the world to be endorsed by SAP whose salesforce and marketing muscle will now be let loose selling K2fly solutions across its global network.

Bulls N' Bears 08 Jul 2020

K2fly does software deal with Wesfarmers subsidiary

ASX-listed mining “software-as-a-service” provider, K2fly, has continued to expand its mining software offerings by partnering with Wesfarmers-owned Decipher, to create an integrated monitoring and governance platform for tailings storage facilities. The partnership provides an elegant solution to effectively manage mineral waste – a hot topic concerning industry, regulators and environmentalists.

Bulls N' Bears 15 Jun 2020

South32 ticks off K2fly mining software with 5 year contract

ASX-listed mining ‘software-as-a-service' provider, K2fly, continues to build the annual recurrent revenue stream from its software contracts which hit A$2.2m this quarter after mega miner, South 32, locked in a 5-year contract for its “RCubed” mineral resource governance software. The company said its total contracted value for all multi-year contracts has jumped 45% to nearly A$7m.

Bulls N' Bears 20 Apr 2020

K2fly passes $2m p/a in recurrent software income

ASX-listed ‘software-as-a-service' provider, K2fly, said the annual recurrent revenue stream from its software contracts has now surpassed A$2.0M after it signed on yet more customers for its “RCubed” mineral resource governance software. The company said the total contract value for its multi-year contracts, mostly with global mega-mining clients, now tops A$6M after Belgium-based Sibelco signed on for a 3-year term and Kinross Gold Corporation inked a 5-year deal.

Bulls N' Bears 24 Jan 2020

Gold Fields Ltd signs on for K2fly software

K2fly has added another significant resource company to its rapidly growing, blue chip client list after West Australian miner, Gold Fields Ltd, signed on for a multi-year deal to use K2fly's innovative software package known as “RCubed”. The contract is worth in excess of $580,000 across the initial five years and comes on the back of a total of $1.67m worth of record invoicing in the December 2019 quarter.

Bulls N' Bears 19 Dec 2019

K2fly inks long term contract with Westgold

Listed mining software company K2fly has been racking and stacking a solid slew of major mining companies into its client base, inking yet another long-term contract, this one with serious mining player, Westgold. Westgold's new contract with K2fly holds an initial total contract value of over $580,000 with the two companies also looking to collaborate on future working enhancements to the existing software system.

Bulls N' Bears 16 Dec 2019

K2fly locks in Teck Resources

K2fly has reinforced its emerging prominence in the resource's software space with mining giant, Teck Resources, extending its annual “RCubed” software contract with K2Fly out to three-years. K2fly said it has now locked down total contract values of over $2 million from its RCubed software as a service, or “SaaS”, as clients sign onto three and five year terms. The latest numbers come only weeks after the ASX-listed company signed a five-year software contract with Rio Tinto.

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