Accesso Technology Group (LON:ACSO) has released its full year results for 2023, highlighting key financial figures. The company reported revenue of US$149.5m, representing a 7.0% increase from the previous year. However, net income decreased by 24% to US$7.69m, resulting in a profit margin of 5.1% compared to 7.2% in the previous year. Earnings per share (EPS) also saw a decline from US$0.24 to US$0.19.
A breakdown of revenue and expenses over the past 12 months reveals that the Ticketing segment was the primary revenue driver, contributing US$104.0m or 70% of total revenue. General & Administrative costs were the largest operating expense at US$94.5m or 86% of total expenses, which significantly impacted the company’s earnings performance over the past year.
Looking ahead, accesso Technology Group is forecasting a 7.2% average annual growth in revenue over the next three years, which is slightly lower than the forecasted growth rate for the Software industry in the UK at 10%. While this may be concerning for investors looking for higher growth potential, it is important to consider how accesso Technology Group’s performance compares to industry standards and other factors such as market trends and competition when evaluating investment opportunities in this sector.
Investors should also be aware of two warning signs when considering investing in accesso Technology Group:
Firstly, despite reporting positive financial results overall, there are concerns about rising input costs due to inflationary pressures and supply chain disruptions.
Secondly, there are concerns about increased regulatory scrutiny and potential legal challenges related to data privacy and security issues.
Despite these challenges, accesso Technology Group’s shares have seen a positive movement over the past week with a 6.0% increase in price.
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It is important to note that this analysis provides general commentary based on historical data and analyst forecasts using an unbiased methodology but does not take into account individual objectives or financial situations.
Finally, Simply Wall St aims to provide long-term focused analysis driven by fundamental data rather than relying solely on price-sensitive company announcements or qualitative material without including them in our analysis.
