Accesso Technology Group (LON:ACSO) has released its full year 2023 results, showcasing key financial figures that investors are keeping a close eye on. While the company reported a revenue of US$149.5m, which is a 7.0% increase from the previous fiscal year, 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. Earnings per share (EPS) also dropped to US$0.19 from US$0.24 in FY 2022.
In terms of revenue breakdown, the Ticketing segment was the primary driver, contributing 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. Looking ahead, the company forecasts a 7.2% average annual revenue growth over the next three years, slightly below the 10% growth forecast for the Software industry in the United Kingdom.
While Accesso Technology Group has beaten analyst expectations in terms of revenue and earnings per share, there are some risks to consider when investing in this company. Investors should be aware of two warning signs that were identified in their performance: firstly, they have experienced declining net income and profit margin; and secondly, their EPS has decreased compared to last year’s performance.
Despite these challenges, Accesso Technology Group remains well positioned for growth with its dominant market position in ticketing solutions and strong customer base across various industries such as sports and entertainment.
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