Technology One Ltd (ASX: TNE) shares are pushing higher on Tuesday.
The move comes after the enterprise software company released an update at its annual general meeting (AGM).
In early afternoon trade, the Technology One share price is up 7.04% to $23.25. By comparison, the S&P/ASX All Technology Index (ASX: XTX) is 0.57% higher.
Despite today's rebound, the stock remains down around 17% in 2026 to date. It has been caught up in the broader sell-off across global technology names linked to artificial intelligence (AI) concerns and valuation resets.
Here's what the company told investors.
Image source: Getty Images
FY26 outlook lifted at AGM
At its AGM, Technology One announced an upgrade to its FY26 guidance.
Management now expects profit before tax (PBT) growth of between 18% and 20%, up from its prior guidance range of 13% to 17%.
The company also upgraded its annual recurring revenue (ARR) growth guidance to 16% to 18%.
According to CEO Ed Chung, the upgraded outlook reflects confidence in the group's customer pipeline across Australia, New Zealand, and the UK, as well as momentum in its SaaS+ strategy.
Chung noted that Technology One has a long track record of delivering at the top end of its guidance ranges. He added that the business does not upgrade guidance lightly and only does so when it has strong visibility in the numbers.
The company highlighted that its first-half PBT growth is expected to be in the high single digits. A stronger second-half is anticipated as investments in AI showcase events and product launches begin to contribute.
From SaaS to SaaS+
Technology One reiterated that it has transitioned from being a SaaS business to what it calls a SaaS+ model.
Under this approach, the company provides an integrated enterprise software solution as a service (SaaS), including implementation, support, and ongoing upgrades, rather than just software licences.
The group services more than 1,300 organisations across government, education, and corporate sectors. It remains one of the ASX 100's larger technology companies, with a market capitalisation of about $7.6 billion.
Key dates ahead for investors
Investors will not have to wait long for more details.
Technology One is scheduled to release its half-year results on 19 May 2026. That update should provide greater clarity on first-half earnings, ARR growth, and margins.
In the meantime, the company also confirmed the retirement of long-serving Non-Executive Director Clifford Rosenberg, who has served on the board for 7 years.
With upgraded guidance now in place, attention will shift to whether Technology One can continue to deliver double-digit earnings growth in a tougher technology market.
