RPMGlobal's First Half FY2024 Performance

RPMGlobal (ASX: $RUL) has reported a remarkable performance in the first half of the 2024 financial year, achieving record revenue and profitability. The company's transition from perpetual to subscription licensing has provided both operating and financial leverage to the business. RPMGlobal reaffirms its previous guidance for FY2024, projecting total revenue in the range of $110 million to $115 million, EBITDA in the range of $21.5 million to $23.5 million, and profit before tax in the range of $16.5 million to $18.0 million.

Executive Commentary on FY2024 Performance

The company's first half of FY2024 has set a new record in terms of revenue and profitability, aligning with our expectations. The transition from perpetual to subscription licensing continues to provide both operating and financial leverage to our business. We are pleased to reaffirm our previous guidance for FY2024, reflecting our confidence in the company's performance and outlook. Our software sales continue to be heavily weighted towards the second half of the financial year, and we are pleased with the growth in the APAC and EMEA regions. The strategic software highlights, including new product adoption and the signing of significant subscription agreements, demonstrate the strength of our software products and the growing market acceptance. We are optimistic about the future and believe that our software products and advisory services will continue to capture market share from our competitors.

Summary of FY2024 First Half Performance and Outlook

RPMGlobal's first half of FY2024 has seen the company achieve record revenue and profitability, driven by the transition to subscription licensing and strong software sales. The reaffirmation of the financial guidance for FY2024 reflects the company's confidence in its performance and outlook. The company's strategic software highlights, including new product adoption and significant subscription agreements, demonstrate the strength and growing market acceptance of its software products. With a positive outlook, strong balance sheet, and competitive offerings in both software and advisory services, RPMGlobal remains optimistic about the future.