Technology One (TNE) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of Indigenous land and introduction of directors and executives.

• AGM held on 19 February 2025 at Brisbane Convention & Exhibition Centre, with agenda covering financial results, significant achievements, FY25 outlook, and long-term strategy.

• Hybrid format enabled both in-person and online shareholder participation.

Board and executive committee updates

• Rick Anstey retired after 19 years, recognized for his role in UK expansion and board culture.

• New director Paul Robson introduced, bringing extensive technology and governance experience.

• Board skills matrix published, aiding transparency in director competencies.

Financial performance review

• FY24 profit grew 18% to $152.9m, with ARR up 20% to $470.2m, driven by UK and SaaS+ growth.

• SaaS and recurring revenue rose 19% to $266.3m; UK sales ARR up 70% to $8.7m.

• Cash and investments increased 25% to $278.7m; net assets up 24% to $379.3m; no debt.

• R&D investment reached $128.0m, up 14%, representing 25% of revenue.

• 15th consecutive year of ARR and profit growth; profit before tax just under $153m.