In the half-year ended 31 March 2020, the corporate reported a 6 % bump in revenue after tax at $19.1 million, up from $17.9 million the identical interval final 12 months.
Revenue in the meantime grew 7 % to $138 million, up from $128.5 million, whereas annual recurring income (ARR) is up 33 % to $110 million.
TechOne CEO Edward Chung mentioned the corporate has delivered its 11th 12 months of file revenue, income and SaaS charges.
“Our SaaS ARR is up 33 percent and we increased the number of large-scale enterprise SaaS customers by 22 percent to 475. Our SaaS business is growing very fast, even in the midst of COVID-19,” Ching mentioned.
“Our SaaS customers have hundreds of thousands of users, making ours the largest multi-tenanted ERP SaaS offering in Australia.”
The firm additionally revealed its UK enterprise had improved barely with a lack of $800,000, in comparison with final 12 months’s $900,000 loss. “We see significant growth opportunities in the coming years,” Chung mentioned of the UK enterprise.
Chung mentioned COVID-19 “had minimal impact” on TechOne, because of its ”swift” and “seamless” transition into distant working preparations the place employees continued supporting its prospects.
TechOne chairman Adrian Di Marco mentioned, “Our results are due to the continuing strong demand for our global SaaS ERP solution.”
“Customers are now differentiating between inferior ‘cloud-hosted’ solutions, offered by our competitors, and the significant benefits and efficiencies offered by our true multi-tenanted Global SaaS offering.”
Looking forward, TechOne mentioned it sees its SaaS ARR improve to greater than 30 % over the total 12 months. “Having said this, COVID-19 is an evolving situation, and we have reflected this in our full-year guidance of net profit before tax up 8-12 per cent,” Chung added.