TechnologyOne (ASX:TNE) posts 22% rise in profit, shares jump

November 22, 2022 01:24 PM AEDT | By Khushboo Joshi

TechnologyOne (ASX:TNE) posts 22% rise in profit, shares jump — Image source: © Wrightstudio | Megapixl.com

Key takeaways from the financial results:

TechnologyOne has registered a profit after tax of AU$88.8 million, up 22% and an increase of 15% in the profit before tax to AU$112.3 million.
The company’s SaaS (Software as a Service) Annual Recurring Revenue (ARR) was AU$274.2 million, up 43%, while the total Annual Recurring Revenue was AU$320.7 million, up 25%.
The company marked an 18% rise to AU$369.4 million in its total revenue. Revenue from TNE’s SaaS and Continuing Business was up 22% to AU$358.7 million.
The company posted expenses of AU$257.1 million, up 20%.
As per TNE, the cash flow generated was AU$77.2 million, a rise of 21%. The cash and cash equivalents were AU$175.9 million, up 22%.
The company has provided a total dividend of 17.02 cents per share (cps), including a special dividend of 2.0 cps, up 22%.
Also, TechnologyOne registered an R&D investment of AU$92.2 million before capitalisation, up 19.6%. This is 25% of the revenue.

Share price performance of TechnologyOne

The shares of TechnologyOne have gained 4.70% in the past five trading days on the ASX. In the last month, the shares have gone up 7.04%, and in the last six months, the shares have risen 24.11% on the ASX. In the last five years of trading, TNE shares have moved up by 149.42% on the ASX (as of 12:34 PM AEDT, 22 November).

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