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Accesso Technology targets expansion of recurring revenue base

Snapshot

  • Provides ticketing e-commerce, virtual queuing and guest experience solutions
  • Operates in leisure, entertainment and cultural markets in several countries
  • In bid discussions after several approaches
Theme Park

Quick facts: Accesso Technology Group PLC

Price: 190 GBX

LSE:ACSO
Market: LSE
Market Cap: £52.63 m
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With customers now deploying multiple accesso solutions on an integrated basis and a lengthy company sale process in the rear-view mirror, I am generally optimistic about the future

Chief executive, Steve Brown

 

What accesso Technology does

accesso Technology Group PLC (LON:ACSO) is an AIM-listed firm providing ticketing e-commerce, virtual queuing and guest experience solutions.

The company has active subsidiary companies in several countries, including the USA and Canada, and operates in the leisure, entertainment and cultural markets for customers as varied as Village Roadshow, Calgary Philharmonic Orchestra and Merlin Entertainments

How’s it doing

In a statement accompanying accesso’s full-year results, Steve Brown, CEO of the electronic queuing specialist, said transactional revenues were continuing to “grow double-digit” and now accounted for 80% of total revenues while the group had also “realised strong results in eCommerce transactional revenue and virtual queuing sales”.

For the year ended 31 December, the company reported adjusted earnings (EBITDA) of US$28.2mln, down from US$34.8mln in the prior year, while revenues were US$117.2mln compared to US$118.7mln in 2018.

The firm also hailed “positive momentum” in the its key performance metrics as it aimed to build its recurring revenue base in the coming year.

Inflexion points 

  • In February, accesso said it had reached renewal agreements with several clients including theme park owner Palace Entertainment and the Washington State Fair while also securing new customers such as ITV Broadcasting, the Mount Washington Cog Railway and The New York Botanical Garden
  • Steve Brown returned to the company as CEO in late January

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Investor Update: accesso Technology announces deal with The New York...

Top stories from the Proactive Investors UK newsroom: accesso Technology Group PLC (LON:ACSO) has signed a three-year partnership with The New York Botanical Garden (NYBG) to supply its Passport, Siriusware and Ingresso products. Based near The Bronx, the NYBG attracts over 1mln visitors...

on 13/6/19

2 min read