Rand Worldwide Inc (OTC:RWWI)

Rand Worldwide Inc. (OOTC:RWWI)  announced Q2 2024 results:

• Sales of $89.0 million vs $111.1 million in the prior year
• EPS of $0.34 vs $0.48 in the prior year

“A significant portion of revenues from the Company’s IMAGINiT division are from the resale of Autodesk software subscriptions. From December 2018 through March 27, 2023, Autodesk offered incentives which included pricing advantages and 0% financing offers to customers who purchased three-year subscriptions rather than annual subscriptions…

…Beginning on March 28th, 2023, the Company began offering annual installment billing arrangements to customers who purchase or renew licenses with multi-year terms. For the three months ended December 31, 2023, the Company’s revenues from three-year deals were approximately $27.3 million lower than in the same period in the prior fiscal year.”

Rand Worldwide Inc. (OOTC:RWWI)  a company that provides design automation and data management solutions announced fiscal first quarter 2024 results:

• Sales of $75.4 million vs $85.5 million in the prior year

• EPS of $0.25 vs $0.31 in the prior year

“Beginning on March 28th, 2023, the Company began offering annual installment billing arrangements to customers who purchase or renew licenses with multi-year terms. For the three months ended September 30, 2023, the Company’s revenues from three-year deals were approximately $15.9 million lower than in the same period in the prior fiscal year.”

Rand Worldwide Inc. (OOTC:RWWI) ($21.25; $710.0M market cap), a company that provides design automation and data management solutions announced fiscal third quarter 2023 results:

• Sales of $103.0 million vs $86.5 million in the prior year
• EPS of $0.46 vs $0.32 in the prior year

“A significant portion of revenues from the Company’s IMAGINiT division are from the resale of Autodesk software subscriptions. From December 2018 through January 6, 2023, Autodesk offered a pricing advantage to customers who purchased three-year subscriptions rather than annual subscriptions, and many of our customers took advantage of that discount. Since Rand Worldwide Inc. has no material post-sale obligation on these subscriptions, the Company recognizes revenues for the entire subscription term at the time of sale. In addition, through March 27, 2023, Autodesk provided 0% financing for customers who purchased or renewed three-year subscriptions. For the three months ended March 31, 2023, the Company’s revenues from three-year deals were approximately $24.9 million higher than in the same period in the prior fiscal year. Following the expiration of the 0% financing, the Company’s customers still purchased and renewed three-year subscriptions but at a lower rate.”

Rand Worldwide Inc. (OOTC:RWWI) ($17.00; $542.0M market cap), a company that provides design automation and data management solutions announced first quarter 2022 results:

• Sales of $83.2 million vs $70.5 million in the prior year
• EPS of $0.27 vs $0.22 in the prior year

“Since December of 2018, Autodesk has offered a pricing advantage to customers who purchase a three year subscriptions rather than annual subscriptions, and many of our customers have taken advantage of this discount.

For the three months ended December 31, 2021, the Company’s revenues from three-year deals were approximately $6.7 million higher than in the same period in the prior fiscal year.”

See our full coverage on RWWI here. 

Rand Worldwide Inc. (OOTC:RWWI) ($16.50; $526.0M market cap), a company that provides design automation and data management solutions announced full year 2021 results:

• Full year sales of $257.3 million vs $281.0 million in the prior year
• EPS of $0.62 vs $0.71 in the prior year
• Q4 sales of $72.0 million vs $25.5 million in the prior year
• EPS of $0.15 vs $0.04 in the prior year

As we have previously mentioned, a significant portion of RWWI revenues comes from its relationship with Autodesk. For the years ended June 30 2021 and 2020 revenues accounted for $55 million and $83 million respectively. 

Rand Worldwide Inc. (OOTC:RWWI) ($13.25; $422.4M market cap), a company that provides design automation and data management solutions announced Q1 2021 results:

• Sales of $52.8 million vs $77.6 million in the prior year
• EPS of $0.10 vs $0.16 in the prior year

Recall that the last 4 quarters benefitted from one time sales in relation to the business the company conducts with Autodesk, Inc. (NASDAQ:ADSK). 

Q1 2020 resultsSales of $77.6 million vs $41.8 million

• EPS of $0.16 vs EPS of $0.04