Accesso benefits from pent-up demand, raises revenue guidance

(Sharecast News) - Technology solutions provider Accesso Technology said on Wednesday that it had continued to benefit from pent-up customer demand and an accelerating trend towards online commerce in its end markets.
Accesso stated that it had seen operators' need to manage capacity boost online reservation activity, while its virtual queueing solutions also saw demand "well beyond" historic levels - resulting in year-to-date revenues being "significantly ahead" of expectations.

"As a result, in the absence of major new impacts from the pandemic, the board now expects full-year revenue for 2021 to be in excess of $100.0m," said Accesso.

The AIM-listed group added that alongside strong trading, confidence in its future growth trajectory was also bolstered by "a significant uptick in demand" from potential customers.

In order to capture revenue opportunities, Accesso will now deploy additional resources across technology implementation, product development, and customer support, noting that while these investments would have only a "limited impact" on cash EBITDA in 2021, their full annualised effect would be felt in the 2022 trading year.

Chief executive Steve Brown said: "We are pleased by the robust results we are seeing as the leisure sector reopens. We're working hard to capture strong pent-up demand alongside ensuring significantly higher utilisation across our solution set.

"As our end markets emerge from the pandemic, we will continue to respond with adjustments to our business in order capture the long-term value associated with this uptick in demand for our technology".

As of 1000 BST, Accesso shares were up 5.93% at 625.0p.