FY22 saw 10% recurring revenue and ARR growth despite lower services revenues as lead times for new vehicles remained extended. Growth in these high margin revenues advanced underlying EBITDA margins by 240bps. SAAS has seen a positive start to the year with evidence of improved supply chain conditions. We nevertheless leave FY23 forecasts largely unchanged (just adding recent M&A). We introduce FY24 estimates that model 11% recurring revenue growth and 80bps margin improvement in that year. An ....
30 Mar 2023
Solid growth drives margin expansion
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Solid growth drives margin expansion
Microlise Group plc (SAAS:LON) | 166 0 0.0% | Mkt Cap: 193.1m
- Published:
30 Mar 2023 -
Author:
Kevin Ashton -
Pages:
3
FY22 saw 10% recurring revenue and ARR growth despite lower services revenues as lead times for new vehicles remained extended. Growth in these high margin revenues advanced underlying EBITDA margins by 240bps. SAAS has seen a positive start to the year with evidence of improved supply chain conditions. We nevertheless leave FY23 forecasts largely unchanged (just adding recent M&A). We introduce FY24 estimates that model 11% recurring revenue growth and 80bps margin improvement in that year. An ....