TechnologyOne, a Brisbane-based enterprise software company, has revised its full-year profit guidance upwards, citing strong growth in its consulting services and the upcoming launch of new artificial intelligence (AI) product upgrades. The company develops software solutions for sectors like universities and local councils. TechnologyOne now anticipates its pre-tax profit to increase by 18 to 20 per cent for the full year, a notable rise from its previous guidance of 13 to 17 per cent.
In addition to the profit forecast, TechnologyOne expects its annual recurring revenue (ARR) to grow between 16 and 18 per cent. This projection reflects sustained demand and customer engagement across its key markets. The company’s confidence is underpinned by a robust customer pipeline across Australia, New Zealand, and the United Kingdom.
Chief Executive Officer Ed Chung emphasised the data-driven basis for the upgraded guidance. “This increased guidance is not optimism – it is confidence in our customer pipeline in Australia, New Zealand and the UK. Driving this growth is the momentum of SaaS+, the response to Plus and our excitement in new AI products that will shortly be launched,” Chung said. He added, “We don’t guide up unless we can see it in the numbers.”
