TNE +8.2%: hosted their AGM today and struck a confident tone, guiding to the high end of its full-year profit growth range and highlighting a robust second-half outlook. Recurring revenue momentum remains strong, reinforcing TNE’s position as one of the highest-quality SaaS names on the ASX.
- FY pretax profit growth expected at the high end of +18–20%
- Annualised recurring revenue expected at the high end of +16–18%
- Management expects H2 to be robust
The company continues to benefit from structural demand for enterprise software and long-duration recurring revenue growth.
Another steady upgrade-style update from TNE, execution remains best-in-class, and the business continues to deliver consistent compounding earnings growth. No earnings impact from AI at this stage.
MM is bullish TNE ~$23
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