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Technology One Limited (ASX:TNE)

ALERT: Price-sensitive ASX Announcement for TNE
Current share price for TNE : $30.100 -2.92 (-8.84%)+
Announcement
Release
20 May 2025 8:25AM
Price at Release
$33.020
Full Release
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Summary
Technology One Limited (TNE) announced a strong financial outlook, expecting FY24 profit growth between 13% and 17% driven by the continued adoption and success of its SaaS+ ERP platform. The transition from legacy on-premise software to SaaS+ has accelerated, with over 95% of customers now on the SaaS platform, leading to higher recurring revenue, improved customer retention, and strong margins. The company highlighted the successful delivery of major software upgrades for customers with minimal disruption, and noted that its robust pipeline, high customer satisfaction, and commitment to innovation are positioning it well for continued growth. TNE maintains its strategy of investing in product development and expanding into new verticals, while focusing on operational excellence and delivering shareholder value.
Key Points
  • FY24 profit growth guidance is 13%-17%.
  • SaaS+ platform adoption now exceeds 95% of customer base.
  • Recurring revenue and customer retention at record highs.
  • Major software upgrades delivered with minimal customer disruption.
  • Ongoing investment in product development and innovation.
  • Strong pipeline and customer satisfaction underpin future growth.
  • Focus remains on expanding market reach and operational excellence.
  • On track to deliver long-term shareholder value.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.