Technology One Ltd. (TNE.AX,THNOF), an Australian SaaS ERP provider, Tuesday reported higher profit in first half of fiscal 2026, driven by increased revenues. The company also reaffirmed its upgraded fiscal 2026 guidance issued at their February AGM.
In Australia, the shares were losing around 3.1 percent, trading at A$27.74.
The company expects to achieve fiscal 2026 Annual Recurring Revenue or ARR growth goal of hitting the top of 16 percent to 18 percent guidance range.
Further, the firm said it is on track to double business again and surpass total ARR of A$1 billion plus by fiscal 2030 from current base of A$598.0 million.
The economies of scale from its global SaaS+ ERP solution is also projected to drive continued profit before tax margin expansion to 35 percent plus in the long term.
In the first half, net profit attributable to members grew 6 percent to A$66.79 million from last year's A$62.97 million. Earnings per share increased to 20.28 cents from 19.08 cents a year ago.
Profit before tax grew 9 percent year-over-year to A$89.1 million.
Revenue from ordinary activities increased 11 percent to A$318.42 million from A$285.69 million last year.
ARR for the first half was $598.0 million, a growth of 17 percent from the prior year. Net Revenue Retention or NRR was 114 percent.
Further, citing the strong results and its confidence going forward, the firm increased interim dividend by 21 percent from last year to 8.0 cents per share. The payment date of the dividend is June 12.
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