Technology One (TNE) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of Indigenous land and a welcome to both in-person and online attendees.

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

• Introduction of board members, executive team, and auditors; confirmation of quorum and no apologies received.

• Recognition of retiring director Rick Anstey for 19 years of service and his role in company growth.

Financial performance review

• Annual Recurring Revenue (ARR) grew 20% to AUD 470.2 million, with FY24 profit up 18% to AUD 152.9 million, driven by UK and SaaS+ growth.

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

• Cash and investments increased 25% to AUD 278.7 million; net assets up 24% to AUD 379.3 million; balance sheet remains debt-free.

• Net Revenue Retention (NRR) reached 117%, above the long-term target.

• R&D investment reached AUD 128 million, up 14%, representing 25% of revenue.

Dividend announcements

• Full-year dividend increased 15% to AUD 0.2245 (22.45 cps), with a payout ratio of 62% and 65% franking.

• Dividend paid every year since 1996; strong balance sheet supports ongoing dividends.