Key highlights

  • Technology One Ltd (ASX:TNE) closed at $31.48 on 20 October 2026, up 0.58%.
  • The shares are down approximately 20.02% over the past year.
  • Technology One reported first-half ARR of $598.0 million, up 17%, and a record Interim Dividend of 8.0 cents on 19 May 2026.

Shares in Technology One Ltd (ASX:TNE) closed at $31.48 on 20 October 2026, rose 0.58% on the day from a previous close of about $31.2985.

Over the past 12 months the stock lost approximately 20.02%. Working back from the closing price, a 12-month change of approximately -20.02% implies a share price of about $39.36 a year earlier. The annual decline is much larger than the move in a single session, which is a reminder of how far a stock can travel over a year.

In dollar terms, the 12-month move amounts to about $7.88 per share, from roughly $39.36 to $31.48, while the move during the 20 October session was about 18.2 cents per share. The two figures measure different time frames and are reported here on their own terms.

About Technology One

Technology One Limited is a Brisbane-based enterprise software company that describes itself as Australia’s largest ERP Software-as-a-Service (SaaS) company. It sells what it calls SaaS+ solutions to government, education, utilities and other large organisations, and has been expanding in the United Kingdom.

Latest development

The share price figures above are not connected here to the company’s results. On 19 May 2026 Technology One announced results for the half year ended 31 March 2026. It reported profit before tax of $89.1 million, up 9%, and profit after tax of $66.8 million, up 6%. Annual Recurring Revenue (ARR) was $598.0 million, up 17%, with net revenue retention of 114%.

Total revenue was $322.7 million, up 11%, with SaaS and recurring revenue of $299.2 million, up 13%. Total expenses were $233.6 million, up 12%, and Research and Development Investment before Capitalisation was $84.1 million, up 22%, or 26% of total income. UK ARR was $53.0 million, up 23%. Free Cash Flow was $20.3 million, down 15%, and cash and investments were $245.5 million, up 16%. A record interim dividend of 8.0 cents per share, up 21%, was declared.

The company reaffirmed upgraded full-year FY26 guidance issued earlier in the year, targeting profit before tax growth of 18% to 20% and ARR growth of 16% to 18%, with profit before tax Margin expanding by about two percentage points and free cash flow equal to net profit after tax.

Sector context

Enterprise software suppliers to government and large organisations tend to earn recurring revenue under long contracts, which makes ARR and net revenue retention the main yardsticks. Many have shifted customers from on-premise systems to cloud subscriptions and are adding artificial intelligence features.

Expansion into overseas markets, such as the United Kingdom, usually requires upfront investment before revenue scales.

Risks

First-half profit before tax growth of 9% was below the full-year guidance range of 18% to 20%, so the company’s guidance relies on higher second-half growth. Free cash flow fell 15% in the period.

Expenses grew 12%, research and development spending is rising and the UK expansion is still building scale. Government and enterprise software sales can be affected by procurement timing.

Share price movements add a separate layer of uncertainty. The stock’s one-day move of +0.58% on 20 October 2026 and its 12-month change of approximately -20.02% show how far the share price can move, and past movements do not indicate future direction.

Catalysts to watch

Items to watch include the full-year FY26 result against guidance, ARR growth, the UK ARR trajectory, free cash flow conversion and the company’s guidance for FY27.