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…

| More on:
A woman sits in front of a computer and does some calculations.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

More on Technology Shares

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Five happy friends on their phones.
Share Market News

Goldman Sachs says these ASX tech stocks can rise 18% to 30%

The broker sees big returns on offer from these shares.

Read more »

A guy helps a girl lift a couch, both are laughing.
Technology Shares

3 of the best ASX tech shares to buy and hold until 2030

I think these stocks have exciting futures.

Read more »

A young woman uses a laptop and calculator while working from home.
Technology Shares

If I'd put $5,000 in Block shares 5 months ago, here's what I'd have now

Was it a good idea to invest in this payments stock five months ago?

Read more »

Close up of a sad young woman reading about declining share price on her phone.
Technology Shares

Why is the Brainchip share price sinking over 7% today?

What's going on with this tech stock on Wednesday?

Read more »

woman working on tablet
Technology Shares

Missed out on Nvidia? My best ASX tech stock to buy and hold

Do you have FOMO after the US chip maker's share price rocketed? Here's an Aussie company worth backing instead.

Read more »

Three businesspeople leap high with the CBD in the background.
Technology Shares

Guess which ASX small-cap stock is rocketing 45% on 'pivotal moment'

Investors have responded very positively to an announcement.

Read more »

A man looking at his laptop and thinking.
Technology Shares

Why are these ASX tech shares getting smashed today?

Owners of these two stocks are missing out today.

Read more »