Hansen Technologies (HSN) $5.42

HSN –4.58% announced 1H25 results and outlook with key metrics toward the top end of guidance and FY25 targets reiterated;

• Revenue of $178.6m (+6% YoY) was toward the top end of the guide ($175-180m).
• EBITDA of $38m (27% YoY) was toward the top end of the guide ($37-39m)

HSN has reiterated FY25 guidance including: 1) FY25 revenue between $398-405m; 2) u/lying EBITDA between $92-101m; and 3) Cash EBITDA between $76-85m.  Importantly, Powercloud is now cash generative, and is one of the best turnarounds we have seen for a while.