As CEO Steve Brown described accesso Technology Group PLC’s “simply outstanding” 2021 performance, the company provided a “cautiously optimistic” assessment of the current year’s prospects.
According to accesso’s financial results for the year ended December 31, revenues increased by a whopping 123 percent to US$124.8 million. An increase of 346 percent in earnings (EBITDA) to US$28.1mln was achieved as a result of this. It had $64 million in net cash at the end of the time period.
In 2021, “accesso’s performance was nothing short of spectacular.” We achieved record revenue and profit during another difficult year in our end markets, which continued to recover at varying levels throughout the year,” CEO Brown said.
He noted that venue and destination operators were increasingly looking to gain efficiency, reduce labour costs, and optimise revenue through digital transformations like accesso’s.
Also read: The first winners of the “Chroma Precision Machinery and Measurement Technology Paper Award” have been announced
To ensure long-term revenue during the critical adoption phase, Brown said, “we’ll invest squarely behind this increased level of demand” in the near term.
As a result of this, we will see a return to normal operations and full staffing levels, which will support the increasing demand for our solutions and allow for continued innovation.
The company’s prelims did include a warning about rising costs as the industry moves back to normal staffing levels following the pandemic, as well as “overall industry pressure on wages.”
The trading volume in January and February was described as “encouraging” to investors.
Due to new customers being brought on board over the past two years, accessoPassport’s North American ticket sales were double what they were in 2019.
While we are aware of the early stage of the year, the impact of tiered pricing at higher volumes, and revised terms related to enterprise renewals, we are cautiously optimistic about another year of good progress,” accesso said in a press release.
Also read: Firms in the technology sector lead the hiring surge