By Helena Smolak
Shares in Atoss Software climbed after the company raised its full-year guidance following an expansion of its cloud and subscription business that boosted net profit and revenue in the third quarter.
At 0845 GMT on Monday, Atoss’s shares were up 4.7% at EUR211.50.
The German workforce specialist said it is now targeting 2023 revenue of at least 145 million euros ($153.6 million), exceeding the EUR142 million it previously expected. The company also expect to exceed its forecast of an earnings before interest and taxes margin of around 30%.
Both targets had been increased after the first half of the year.
Atoss said net profit in the third-quarter rose to EUR8.6 million from EUR5.5 million in the previous year.
Third-quarter total revenue came in at EUR37 million, a 31% increase compared with the same period last year, it said. Of this amount, software revenue totaled EUR27.2 million, and revenue from the cloud and subscriptions was up 52% to EUR13.6 million and now accounts for a 37% of total revenue, it said.
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