The Altium Limited (ASX: ALU) share price will be one to watch on Wednesday as the software-as-a-service company holds its annual general meeting down at Sydney Harbour.
Ahead of the meeting the company has released its presentation and updated the market on its future plans.
What's happened?
Although the printed circuit board (PCB) software provider failed to provide the market with a trading update or any full-year guidance, it did confirm that it is on course to deliver on its target of US$200 million in revenue and an EBITDA margin of 35% by FY 2020.
This will be an impressive increase from the US$111 million revenue it generated and the EBITDA margin of 30% in FY 2017.
To achieve this lofty goal management will soon roll-out its high-end Nexus PCB and Altium Designer 18 products, introduce enterprise level solution sales, expand its direct sales presence in Europe, and scale up its licence compliance operations in China.
Should you invest?
I think Altium is up there with Aconex Ltd (ASX: ACX) as one of the best buy and hold investment options in the Australian tech sector.
The lack of guidance today was a touch disappointing, but let's not forget that this is a marathon and not a sprint. The long-term outlook is extremely positive and in my opinion makes it well worth being patient.
As a result, I would suggest investors consider snapping up shares on any share price weakness.
