3 ASX All Ords tech shares making moves on earnings updates

These tech shares are making moves on the ASX boards on Wednesday following the release of their results…

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A number of ASX All Ords tech shares have released their latest results on Wednesday.

Three results that have dropped today are summarised below. Here's how investors have responded to them:

Hansen Technologies Limited (ASX: HSN)

The Hansen share price is down 4%. This morning, this billing technology company reported a 0.1% increase in half-year operating revenue to $149.1 million and a 29.7% decline in underlying net profit after tax to $16.6 million. The latter reflects its focus on investing for growth by building back staffing capacity to pre-pandemic levels.

In light of this profit decline, the Hansen board elected to cut its dividend by 28.6% to 5 cents per share.

Readytech Holdings Ltd (ASX: RDY)

Another ASX All Ords tech share that is sliding 4% today is ReadyTech. This is despite the enterprise software provider releasing its half-year results and reporting a 34.1% increase in revenue to $47.9 million and underlying EBITDA of $15.6 million. The former reflects like-for-like growth of 13.4% and the acquisition of IT Vision.

Management also confirmed that it remains on target to achieve its FY 2023 guidance and reaffirmed its FY 2026 goal of over $160 million of organic revenue.

Siteminder Ltd (ASX: SDR)

The Siteminder share price has bounced back from an early decline and is now up 2%. This follows the release of the hotel technology company's half-year results. Siteminder reported a 30.1% increase in annualised recurring revenue (ARR) and a net loss of $24.7 million.

Management notes that subscriber and subscription revenue growth accelerated during the half as the ramping of its go-to-market capacity post-COVID gained momentum. In addition, its transaction product growth has continued to be a highlight, which management believes reflects the significant opportunity within its customer base.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Hansen Technologies, ReadyTech, and SiteMinder. The Motley Fool Australia has recommended ReadyTech. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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