Accesso Technology Group (LON:ACSO) has announced its full year 2023 financial results, providing investors with key metrics to watch. The company reported a revenue of US$149.5m, representing a 7.0% increase from the previous fiscal year. However, net income decreased by 24% to US$7.69m, resulting in a lower profit margin of 5.1% compared to 7.2% in FY 2022. Additionally, earnings per share (EPS) dropped to US$0.19 from US$0.24 in FY 2022.
Looking at the revenue breakdown, the Ticketing segment was the main contributor, generating US$104.0m or 70% of total revenue. On the expenses side, General & Administrative costs were the largest operating expense at US$94.5m, accounting for 86% of total expenses. Going forward, Accesso Technology Group forecasts an average annual revenue growth of 7.2% over the next three years, slightly below the projected growth rate for the Software industry in the United Kingdom of 10%.
While Accesso Technology Group beat analyst expectations in terms of revenue and EPS, there are some risks that investors should be aware of when considering investing in this company. Two warning signs were identified during its performance:
Firstly, despite reporting positive financial figures overall, Accesso Technology Group’s profitability has decreased significantly compared to the previous year due to a decline in net income and EPS. This decrease may indicate that the company is facing challenges in expanding its business or increasing its efficiency while keeping costs under control. Secondly, although Accesso Technology Group forecasts moderate growth over the next three years, it lags behind other companies in its industry that have projected higher growth rates for this period
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