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An announcement from Technology One Limited ( (AU:TNE) ) is now available.
Technology One Limited has reported its 16th consecutive year of record financial performance, with a 19% increase in profit before tax, surpassing its guidance. The company achieved a total annual recurring revenue (ARR) of $554.6 million, marking an 18% increase, and set a new long-term target of $1 billion ARR by FY30. The success of its SaaS+ model, which simplifies implementation processes, has been a key driver of growth, particularly in the UK market where ARR increased by 49%. The company also completed the acquisition of CourseLoop, enhancing its higher education product suite. With strong cash flow generation and strategic R&D investments, Technology One aims to double its size every five years.
The most recent analyst rating on (AU:TNE) stock is a Buy with a A$45.00 price target. To see the full list of analyst forecasts on Technology One Limited stock, see the AU:TNE Stock Forecast page.
More about Technology One Limited
Technology One Limited is Australia’s largest ERP SaaS company and the world’s first SaaS+ company. It focuses on providing enterprise resource planning solutions with a strong emphasis on SaaS offerings. The company operates in various regions including Australia, New Zealand, the South Pacific, Asia, the United Kingdom, and Europe, with a significant market focus on local government and higher education sectors.
Average Trading Volume: 912,423
Technical Sentiment Signal: Buy
Current Market Cap: A$11.24B
For an in-depth examination of TNE stock, go to TipRanks’ Overview page.