Pinned straw:
BRISBANE, 19 November 2024 – TechnologyOne (ASX: TNE), Australia’s largest ERP SaaS company and the world’s first SaaS+ company, today announced its financial results for the year ended 30 September 2024.
It's their 15th consecutive year of record profit, record revenues, and record SaaS fees.
FY24-ASX-Results-Release-TNE.pdf
2024 Full Year Results Presentation.pdf
Other highlights that caught my eye:
Source: https://www.technology1.com/resources/media-releases/full-year-results-2024
TNE's share price closed up +10% @ $29.45/share but did get up as high as $30.34/share during the day.
This is one I wish I had not sold out of in June. Like @mikebrisy - who cut TNE loose this month - I thought they were overbought - with some upside already priced in - and that the share price could be smashed if they didn't live up to the market's lofty expectation with their results.
Well, they certainly did live up to the market's lofty expectations.
Very high quality company this one.
Disclosure: Not held currently - unfortunately.
A really impressive set of numbers. Technology One is showing everyone else how to execute as a software business. A long term target of $1b+ ARR by FY30 illustrates just how long the runway for growth can be for these types of companies and cash of $278m with no debt reinforces the position of strength TNE is operating from.
Valuation is of course a different issue!
(Held)