TechnologyOne, Australia’s largest ERP Software as a Service (SaaS) company, announced Tuesday its financial results for the year ended 30 September 2020, showing continuing growth with Underlying Profit up 13 per cent on the prior year, underpinned by the continuing fast growth of the TechnologyOne Global SaaS ERP solution.
Revenue from our SaaS & Continuing Business was up 12 per cent.
The company says its Global SaaS ERP solution is transforming customers’ business and makes life simple for them. When COVID-19 hit, the company says the solution enabled SaaS customers to seamlessly shift to remote working, and the tend is reflected in the financial results.
Key results were as follows:
- Underlying Profit Before Tax1 of $86.1m, up 13 per cent
- Revenue from our SaaS and Continuing Business of $269.8m, up 12 per cent
- SaaS Annual Recurring Revenue (ARR)2 of $134.6m, up 32 per cent
- Reported Profit Before Tax of $82.5m, up 8 per cent1
- Total Revenue3 of $299.0m, up 4 per cent
- Expenses of $216.5m, up 3 per cent
- Cash Flow Generation4 of $66.4m, up 49 per cent
- Cash and Cash Equivalents of $125.2m, up 19 per cent
- Total Dividend of 12.88cps, up 8 per cent
- R&D investment of $68.1m before capitalisation, up 13 per cent, which is 22 per cent of revenue
TechnologyOne says it sees continuing strong growth in the future, and expects to double in size again in the next 5 years.
TechnologyOne SaaS ARR grows 32 per cent
The TechnologyOne Global SaaS ERP solution is growing very fast with SaaS Annual Recurring Revenue (ARR) of $134.6m, up 32 per cent. The growth is all organic and includes no acquisitions, according to the company.
TechnologyOne added 104 enterprise customers this year to its Global SaaS ERP solution and now has 539 large scale enterprise customers, with hundreds of thousands of users, making it the largest single instance SaaS ERP offering in Australia.
This year TechnologyOne continued to win new, large enterprise customers from competitors. 30+ organisations replaced our competitors’ systems, including systems from Oracle, SAP, Microsoft, and Infor.
TechnologyOne continued its success in the Local Government sector, where it closed 40 major deals with $45+ million in total contract value. It now has more than 300 council customers.
In the Higher Education sector, TechnologyOne closed 10 major deals with $10m in total contract value, cementing our position as the dominant provider to the APAC Higher Education sector.