Accesso Technology Group (LON:ACSO) reported its full-year financial results for 2023, showing a significant increase in revenue to US$149.5m, up 7.0% from the previous year. However, net income decreased by 24% to US$7.69m from the previous year. The profit margin also declined to 5.1%, down from 7.2% in the previous year, with earnings per share (EPS) dropping to US$0.19 from US$0.24.
Despite the decrease in net income, accesso Technology Group’s revenue exceeded analyst estimates by 1.4%, and EPS surpassed analyst estimates by 78%. The Ticketing segment accounted for a significant portion of the company’s revenue, contributing US$104m, while General & Administrative costs were the largest operating expense, totaling US$94.5m.
Looking ahead, accesso Technology Group is forecasted to experience an average annual revenue growth of 7.2% over the next three years, compared to a 10% growth forecast for the Software industry in the United Kingdom. The company’s shares have seen a remarkable increase of 6% in value over the past week.
While there are positive aspects to accesso Technology Group’s performance, it is important to note that there are two warning signs that investors should be aware of before investing their money into this company’s stock market positioning.
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