TechnologyOne has cracked $100 million the first half of 2016, with six months of sales dragged down by falling profits.
The Brisbane-based software company generated $101 million of revenue for the six months to 31 March 2016, a 12 percent improvement year-on-year.
However, its earnings and profits slumped, with EBITDA down 7 percent to $11.3 million and net profit after tax down 17 percent to $7.4 million.
Profits were hurt by $4.3 million of acquisition costs, a $900,000 loss on foreign exchange, investment in cloud and also ramping up the workforce developing its Ci Anywhere mobile platform, which is set to be rolled out in 2017.
The software company, which has more than 1,000 staff including 300-plus developers, expects a stronger second half, with a number of multimillion-dollar licence deals in the pipeline.
Cash was down $6.3 million due to costs, which included a $2 million payment for its acquisition of JRA in October 2015, plus $1.5 million for prepaid cloud infrastructure.
TechOne's cloud platform is built on Amazon Web Services; the Brisbane company was named Technology Partner of the Year at AWS Partner Summit in Sydney on 27 April.
TechOne made a pair of $10 million acquisitions in the 2015 calendar year, snapping up Gold Coast-based Icon Software in January 2015 then JRA in October.
The company's shares were up around 5 percent since the announcement.
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