Accesso Technology Group’s 2023 Financial Results: Overperforming Expectations Despite Decreasing Net Income

Accesso Technology Group (LON:ACSO) has reported its full year 2023 financial results, showing an increase in revenue to US$149.5m, up 7.0% from the previous year. However, net income decreased to US$7.69m, down 24% from the previous year. The profit margin also declined to 5.1%, 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$104.0m, while General & Administrative costs were the largest operating expense, totaling US$94.5m.

Looking ahead, accesso Technology Group is forecasted to experience 7.2% average annual revenue growth 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 6.0% increase in value over the past week