Business
TechnologyOne (ASX:TNE) share price higher on strong FY 2020 results
The TechnologyOne Ltd (ASX: TNE) share price is pushing higher this morning following the release of its full year results.
In morning trade, the enterprise software company’s shares are up 1.5% to $9.14.
How did TechnologyOne perform in FY 2020?
In FY 2020, TechnologyOne delivered a 4% increase in total revenue to $299 million. This was driven largely by its software-as-a-service (SaaS) business, which continues to growth strongly.
During the 12 months, the company reported SaaS Annual Recurring Revenue (ARR) of $134.6 million. This was a 32% increase on the prior corresponding period and up 22.1% from $110.2 million in the first half.
This was driven by the addition of 104 enterprise customers to its Global SaaS ERP solution,…
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