Proactiveinvestors Australia K2fly Ltd https://www.proactiveinvestors.com.au Proactiveinvestors Australia K2fly Ltd RSS feed en Tue, 23 Jul 2019 21:28:59 +1000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - K2fly advances resources-focused software-as-a-service model ]]> https://www.proactiveinvestors.com.au/companies/news/223628/k2fly-advances-resources-focused-software-as-a-service-model-223628.html K2fly offers consulting services to companies such as resource industry operators

It has the Infoscope land information management system as a service offering

K2fly resells access to other companies’ software and will integrate resource governance pick-up RCubed into its software offering

What does K2fly do?

K2fly Ltd (ASX:K2F) is a consulting systems integration and Australian technology Company focused on process improvement and digital transformation.

The company targets clients in a number of industries such as the energy, resources, water and oil & gas industries with its software and consulting services.

K2fly resells software for a number of vendors from across the world — which have included SAP SE (FRA:SAP) (NYSE:SAP) (ETR:SAP) (SWX:SAP), General Electric Company (NYSE:GE) (ETR:GEC) (SWX:GE) (BMV:GE), Capita PLC (LON:CPI) (FRA:CTAA) (OTCMKTS:CTAGF), ABB Ltd (NYSE:ABB) (SWX:ABBN) (STO:ABB) (ETR:ABJ) (OTCMKTS:ABLZF), OBI Partners and Kony.

Subiaco-based K2fly is moving towards a software-as-a-service model, picking up a new resource governance software acquisition in June 2019 as it adopts the model.

K2fly’s South African acquisition RCubed names AngloGold Ashanti Limited (NYSE:AU), Imerys SA (EPA:NK) and Teck Resources Ltd (TSE:TECK) on its client list.

The now subsidiary company is named for its lead software, RCubed.

Australian company K2fly is led by chief executive officer Brian Miller, a 30-year veteran of the information technology industry who has a deep connection to both sport and business.

Miller has successfully grown a number of software and services businesses over the decades, assisting tier-one clients pursue IT strategy.

He has a postgraduate psychology degree and has been involved with 10 Olympic games, having worked with more than 120 Olympic medallists from four countries.

What does K2fly own?

A lead asset for K2fly is the Infoscope land management system which collates corporate data to provide insight to a business’ assets and perspective.

The data collaboration visualisation tool tracks compliance with land-use access restrictions, allowing its users or clients to consider two parts of the triple bottom line considered by government agencies when assessing licensing and permit applications — social and environment considerations.

Infoscope can help out with stakeholder management, tenement management considerations, cultural heritage considerations or limitations on land use, and track native title or title applications over land.

The information management system can also be used for environmental management and life-cycle ground disturbance management processes.

K2fly’s other offerings fall into the mobility solutions, Internet of Things (IoT), smart grid and meters and asset management and solutions categories.

The company boosted quarterly invoices by 52% to $1.5 million in the June 2019 quarter, when compared to the corresponding quarter in 2018.

Financial year invoicing is now about $4.2 million, a 62% increase on 2017-18.

This including an $82,000 R&D tax refund from the Australian Government received in the June quarter.

The company had $1.06 million on June 30, 2019 and about $850,000 in aged receivables, including a lion’s share from tier-one clients.

Inflection points Continued evolution to a software-as-a-service model Signification transactions, such as acquisitions Cross-selling of RCubed services to K2fly client base Cross-selling of K2fly services and vendor offerings to key RCubed clients Integration of the two businesses and rationalisation of duplicate corporate services Refinement of global strategy Financing milestones K2fly reports “record” financials, confirms CEO Brian Miller

“We had a record quarter last quarter for the quarter just closed,” K2fly chief executive officer Brian Miller told Proactive Investors a week ago.

“Got up to about $1.5 million invoicing. The previous (quarter) last year would have been in the high nine-hundreds, so more than a 50% increase.

“For the overall year, we were previously around the two-and-a-half mill mark for invoicing and we’re now up to nearly $4.2 (million), that’s give or take a 60% increase, so we’re happy with that.

“From a cash position we’ve got more than a million dollars in the bank at the moment and about $850k of Asia receivables and something like $50k worth of work in progress, so … very happy with the turnout thank you.”

 

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Tue, 09 Jul 2019 20:30:00 +1000 https://www.proactiveinvestors.com.au/companies/news/223628/k2fly-advances-resources-focused-software-as-a-service-model-223628.html
<![CDATA[Media files - K2Fly achieves record quarter to cap off strong FY19 performance ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13960/k2fly-achieves-record-quarter-to-cap-off-strong-fy19-performance-13960.html Wed, 03 Jul 2019 10:38:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13960/k2fly-achieves-record-quarter-to-cap-off-strong-fy19-performance-13960.html <![CDATA[News - K2fly caps off strong growth in FY19 with a record June quarter ]]> https://www.proactiveinvestors.com.au/companies/news/223237/k2fly-caps-off-strong-growth-in-fy19-with-a-record-june-quarter-223237.html K2fly Limited (ASX:K2F) raised invoices of around A$1.49 million in the June quarter representing a 52% increase on the prior June quarter in FY18.

Total invoices raised for FY19 were around A$4.18 million which is an increase of more than 62% compared to the A$2.57 million raised in FY18.

These results for the quarter reflect that K2F’s current operations are steadily moving towards achieving its objective, which is to grow revenue and move to net positive cash flows.

The company sells its own software (RCubed and Infoscope), resells third party’s software, and provides experienced consultants to clients using the software.

Many of K2F’s clients are tier one companies from various sectors including resources and energy such as Fortescue Metals Group (ASX:FMG).

READ: K2fly Limited continues revenue growth with largest month to date

K2F recently completed the acquisition of RCubed, a resource governance software solution from South Africa.

RCubed’s major clients are Teck Resources, Anglo Gold Ashanti and most recently it won a new client in the form of Imerys from France.

The acquisition complements K2F’s governance software Infoscope, which also targets the resources sector.

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Wed, 03 Jul 2019 09:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/223237/k2fly-caps-off-strong-growth-in-fy19-with-a-record-june-quarter-223237.html
<![CDATA[Media files - K2fly acquires RCubed to boost resources and reserves SaaS offering ]]> https://www.proactiveinvestors.com.au/companies/stocktube/13892/k2fly-acquires-rcubed-to-boost-resources-and-reserves-saas-offering-13892.html Thu, 27 Jun 2019 09:40:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/13892/k2fly-acquires-rcubed-to-boost-resources-and-reserves-saas-offering-13892.html <![CDATA[News - K2fly continues revenue growth recording largest month to date ]]> https://www.proactiveinvestors.com.au/companies/news/222273/k2fly-continues-revenue-growth-recording-largest-month-to-date-222273.html K2fly Limited (ASX:K2F) invoiced clients $718,000 in May 2019 making it the company’s largest ever month for invoices and an increase of 67% on May 2018.

April 2019 invoices raised was also up 158% on April 2018 – the company noted that the June quarter is usually the largest revenue quarter.

The company is on track to invoice around $500,000 to its clients for June 2019 resulting in June quarter invoices of over $1 million.

Shares are up over 30% in the past month, closing yesterday at 18 cents.

As at 13 June K2F has more than $700k in cash and more than $1 million in aged receivables from existing clients.

RCubed acquisition completed

K2F has now completed the acquisition of the RCubed, a resource governance software solution from South Africa.

It has also acquired a new client in the form of Imerys, a French multinational company which specialises in the production and processing of industrial minerals.

RCubed’s major clients are Teck Resources Ltd (TSE:TECK) and AngloGold Ashanti Limited (JSE:ANG).

The acquisition complements K2F’s governance software Infoscope, which also targets the resources sector.

Two new clients in Queensland

During May, K2F also started assignments with two new name clients in Queensland; New Hope Corporation Ltd (ASX:NHC) and Stanwell Energy.

Contract extensions and additional work has also been won from existing clients Western Power, Arc Infrastructure, Fortescue Metals Group (ASX:FMG), Programmed, and Westgold Resources Ltd (ASX:WGX).

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Tue, 18 Jun 2019 08:57:00 +1000 https://www.proactiveinvestors.com.au/companies/news/222273/k2fly-continues-revenue-growth-recording-largest-month-to-date-222273.html
<![CDATA[News - K2fly one of the top performers on the ASX today ]]> https://www.proactiveinvestors.com.au/companies/news/198658/k2fly-one-of-the-top-performers-on-the-asx-today-198658.html K2fly Limited (ASX:K2F) shares are trading up 16.2% today or 3.5 cents higher to 25 cents per share.

The most recent market update the company had was on 31 May 2018 where it revealed it had won a short-term interim systems integration contract with Western Power.

Western Power is a Western Australian State Government owned corporation which is responsible for building, maintaining and operating an electricity network which connects over 1.1 million customers.

Up to $550,000 revenue over 3-4 months

The assignment will see K2fly providing leading edge support to the business function relating to a customer relationship management program.

The contract will run for about 3-4 months and due to its size, it will make a material contribution to K2fly’s revenues for FY2019.

The revenues arising from this contract are expected to be up to $550,000.

A technology company targeting asset-intensive industries

K2fly is a technology company which targets asset-intensive industries.

It supplies people and products, and has strategic alliances focussed on solving problems for clients.

K2fly owns the following technologies for use in tier I companies:

• Infoscope: A data collaboration solution;
• ADAM: asset data analysis management; and
• NovIn: real time asset inspection management app.

K2fly also re-sells software and has strategic alliances with global technology companies such as GE (NYSE:GE) and SAP (ETR:SAP).

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Tue, 12 Jun 2018 14:46:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198658/k2fly-one-of-the-top-performers-on-the-asx-today-198658.html
<![CDATA[News - K2fly will provide IT advice to Tier 1 electricity company ]]> https://www.proactiveinvestors.com.au/companies/news/191252/k2fly-will-provide-it-advice-to-tier-1-electricity-company-191252.html K2fly Limited (ASX:K2F) has won a contract to provide leading edge advice and guidance to the IT department of a Tier 1 government-owned electricity company.

A services contract with the Western Australian-based utility will result in the technology company securing revenues in the range of $250,000 to $300,000.

The contract will run for circa five months and is expected to make a material contribution to K2fly’s revenues in the current financial year.

Facing digital disruption challenges

Some of Australia’s major utility companies are preparing to face the challenges of digital disruption by introducing new solutions and technologies.

K2fly is well positioned to assist these companies combine effective corporate strategy with efficient technological delivery.

Provision of strategic advice

The new contract will see experienced K2fly practitioners provide strategic advice to the utility in this area.

K2fly targets asset intensive industries and owns the following technologies for use in Tier 1 companies:

- Infoscope, a data collaboration solution

- ADAM, Asset Data Analysis Management

- NovIn, Real time Asset Inspection Management app

It also re-sells market leading software which has been developed by industry leaders in the USA, Australia, Europe and the UK.

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Wed, 07 Feb 2018 08:26:00 +1100 https://www.proactiveinvestors.com.au/companies/news/191252/k2fly-will-provide-it-advice-to-tier-1-electricity-company-191252.html