Highlights
- Total Contract Value (TCV) growth of 42% to $14m in Q1 FY2022, compared to the prior quarter and up 125% compared to Q1 FY2021, resulting from three new major contracts all signed on 5-year contract terms (including contracts with Newmont and Sibanye-Stillwater) – growth to record level
- Annual Recurring Revenue (ARR) growth of 20% to $4.1m in Q1 FY2022, compared to the prior quarter and up 79% compared to Q1 FY2021
- Invoices Raised grew 1% to $2.6m in Q1 FY2022 compared to the prior quarter and up 58% compared to Q1 FY2021, influenced by annual invoicing cycle with Q1 traditionally being a low invoicing quarter
- Cash Receipts from Customers grew 34% to $2.7m in Q1 FY2022 compared to the prior quarter and up 26% compared to Q1 FY2021, driven by invoicing of new contracts signed in recent quarters and is also influenced by the invoicing cycle
- Largest contract signed to date with Rio Tinto of TCV $3.44m / ARR $620k – post quarter end
- Executive restructure: Brian Miller former CEO moved into an Executive Director role and Nic Pollock former Chief Commercial Officer was promoted into CEO role; a review of the operating model resulted in Sara Amir-Ansari being appointed as inaugural CFO
- Cash balance on 30 September 2021 was $5.7m (no debt) with a cash balance of $6.25m at the date of this announcement
