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Why RPMGlobal Holdings Ltd (ASX:RUL) shares are rocketing

The RPMGlobal Holdings Ltd (ASX: RUL) share price was changing hands 5% higher today following a trading update. RPMGlobal shares have risen from a low of $0.65 less than a month ago to trade around $0.96 today.

For context, the broader Australian share market or S&P/ASX 200 (ASX: XJO) was trading up 0.69% today.

RPMGlobal share price

Source: Google Finance.

Who is RPMGlobal?

RPMGlobal is an IT company within the mining industry that has traditionally provided advisory services and technical support in regards to mine preparation and planning.

Questions of where, when and how to dig are the types of questions RPMGlobal’s technical consultants and mining software addresses when dealing with miners looking to extract their commodity in the most efficient way possible.

Why we like RPMGlobal – Investors Podcast

Once you’re done reading this article I highly encourage you to listen to one of the most recent Australian Investors Podcast episodes, or read this RPMGlobal article, where our lead investment analyst takes an in-depth look at the company and why he owns it. You can tune in for free on iTunesSpotify, CastboxYouTube.

RPMGlobal’s profit guidance

In its statement to the ASX today, RPMGlobal provided said it was pleased to announce that the Total Contracted Value (TCV) of software subscriptions sold now stands at $30 million, up $4.6 million from its update last month.

This level of software subscriptions equates to an annualised recurring revenue (ARR) of $12.8 million. That’s a solid number considering the business is worth less than $200 million (cash adjusted), it’s only a small part of the overall business and it’s only recently started selling subscriptions (last two years).

What Happens Next?

Our Rask Invest members-only service first recommended RPMGlobal shares over a year ago because we believed it was materially undervalued. If you’re looking into RPMGlobal Global and wondering what comes next, please read our senior analyst’s full discussion available free here: Unearthing a hidden ASX tech share (EPIC POST)

To be clear, RPMGlobal is a high risk, small-cap company whose shares can be extremely volatile. So, at best, it should be a very small positon in a well-diversified portfolio. Don’t be fooled into thinking it’s going to keep going up like it is now.

Disclosure: The author of this article owns shares of RPMGlobal.

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