TNE +11.33%: Posted a very strong 1H25 result this morning growing total revenue and annual recurring revenue significantly as well as upgrading profit guidance.
- 1H25 revenue $291.3 million, +19% y/y
- Total annual recurring revenue $511.1 million, +21% y/y
- Pretax profit $81.9 million, +33% y/y, a 5.6% beat to consensus $77.3 million
Management upgraded profit guidance for FY25, the second consecutive year doing so after a decade of flat growth – with the estimate lifted from 13% to 17%. After initially seeming like a farfetched goal, the business looks to be on the right track to achieve management’s target of $1 billion in recurring revenue by FY30.
MM is bullish toward TNE
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