Accesso Technology Group (LON: ACSO) released its Full Year 2023 financial results, showcasing key metrics. The company’s revenue grew by 7.0% to US$149.5 million compared to FY 2022, despite a 24% decrease in net income to US$7.69 million, resulting in a profit margin of just 5.1%, down from 7.2% in FY 2022. Earnings per share (EPS) also declined to US$0.19 from US$0.24 in FY 2022.
Despite missing analyst estimates by -1.4%, revenue was driven by the Ticketing segment, which accounted for US$104 million or 70% of total revenue, while General & Administrative costs were the largest operating expense at US$94.5 million or 86% of total expenses.
Looking ahead, accesso Technology Group is expected to experience an average annual revenue growth of just 7.2% over the next three years, compared to a forecasted growth rate of 10% for the Software industry in the United Kingdom as a whole. While there are positive signs for the British Software industry and an increase of shares by
