TECHNOLOGY ONE Reports Q2 2023 Financial Results After May 23 Deadline
May 30, 2023
Earnings Overview
TECHNOLOGY ONE ($ASX:TNE) announced its financial results for the second quarter of fiscal year 2023, ending on May 23 2023, on March 31 2023. Total revenue for the period came to AUD 201.0 million, an increase of 16.9% compared to the same period the previous year. Net income also rose to AUD 41.3 million, a 24.4% increase.
Share Price
On Tuesday, TECHNOLOGY ONE reported its financial results for the second quarter of 2023 after the May 23 deadline. The company’s stock opened at AU$15.4 and closed at AU$15.8, representing an increase of 2.8% from its prior closing price of AU$15.3. Overall, the financial report was well-received by investors, with TECHNOLOGY ONE’s stock price climbing as a result. The second quarter of 2023 marks a new milestone for TECHNOLOGY ONE, as it continues to expand its presence in the technology sector and increase its shareholder value. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Technology One. More…
| Total Revenues | Net Income | Net Margin |
| 397.24 | 96.93 | 24.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Technology One. More…
| Operations | Investing | Financing |
| 151.9 | -74.57 | -54.56 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Technology One. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 504.88 | 251.42 | 0.78 |
Key Ratios Snapshot
Some of the financial key ratios for Technology One are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.5% | 13.9% | 31.4% |
| FCF Margin | ROE | ROA |
| 19.5% | 31.6% | 15.4% |
Analysis
We at GoodWhale have conducted an analysis of TECHNOLOGY ONE‘s fundamentals. According to our Star Chart, TECHNOLOGY ONE has a very high health score of 10/10 with regard to its cashflows and debt. This indicates that the company is capable to pay off debt and fund future operations. We also see that TECHNOLOGY ONE is strong in dividend, growth, and profitability, and medium in asset. Our conclusion is that TECHNOLOGY ONE has achieved stable and high revenue or earning growth due to its strong competitive advantage. We classify this type of company as a ‘gorilla’, and we believe investors of all types may be interested in this company. More…
Peers
Technology One Ltd is an established technology company that has been operating in the industry for many years. It has a range of competitors including Wonders Information Co Ltd, RocketBoots Ltd, and Sebata Holdings Ltd. Each of these companies are well-respected in their respective fields and offer a variety of products and services to the public.
– Wonders Information Co Ltd ($SZSE:300168)
Wonders Information Co Ltd is a technology company that specializes in providing innovative solutions for businesses and consumers. It has a market cap of 10.05B as of 2023 and a Return on Equity of -6.49%. The market capitalization of a company is an indication of its value and size, and Wonders Information Co Ltd’s market cap of 10.05B reflects its potential to achieve considerable growth. On the other hand, Return on Equity (ROE) is a measure of a company’s profitability, and Wonders Information Co Ltd’s negative ROE indicates that it may not be generating enough profits to cover its operating expenses.
– RocketBoots Ltd ($ASX:ROC)
RocketBoots Ltd is a technology-based company that provides innovative products and services in the aerospace industry. As of 2023, the company has a market cap of 6.03 million. This figure indicates that the company is well-established and has seen significant growth over the past year. The company offers a range of products and services, such as launch vehicles, space exploration systems, propulsion systems, and more. The company is also known for its research and development capabilities, which have enabled them to stay ahead of the competition. With its cutting-edge products and services, RocketBoots Ltd is well-positioned to capitalize on the increasing demand for space exploration and related services around the world.
– Sebata Holdings Ltd ($BER:3M9)
Sebata Holdings Ltd is a diversified holding company that specializes in providing solutions across the communications, media, and technology sectors. It has a market capitalization of 14.9M as of 2023 and a Return on Equity of -82.57%. This indicates that the company is not generating profits and may be in financial difficulty. The negative Return on Equity means that the company is losing money on its investments and shareholders have not seen any return on their investment. This could indicate poor management or lack of capitalization. Despite this, the company remains a major player in the communications, media, and technology sectors.
Summary
Technology One reported strong financial results for the second quarter of fiscal year 2023, with total revenue increasing by 16.9% and net income increasing by 24.4%. Investors should be pleased with these results, as the company has seen significant growth in both revenue and profits. This is a good sign of financial health and indicates that Technology One is well-positioned for future success. As such, investors may consider investing in Technology One, as they are likely to continue to experience strong growth in the coming quarters.
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