Atoss Software jumps as strong Q3 underlines continued demand

ATOSS Software SE

24/10/2022 08:59

** Shares in Atoss Software  AOFG.DE  jump 10% after the
company reported strong Q3 results in challenging macro
environment and said it would slightly exceed its FY guidance
    ** Its Q3 sales revenue came in at EUR 28.3 mln ($27.8 mln),
up 19% on the year and in line with Jefferies' estimate
    ** "It shows that demand for software-based solutions for
the strategic management of employees continues given the macro
headwinds," Jefferies says
    ** The brokerage notes the recurring revenues, a key factor
in the future growth of the company, continued to grow
significantly and reached 60% of sales in Q3 vs 53% last year
    ** The company expects to slightly exceed its 2022 forecast
for a total revenue of EUR 110 mln and an EBIT margin of more
than 25%
    ** The stock is at the top of Germany's small-cap index
 .SDAXI  and headed for its best day since January
($1 = 1.0168 euros)
 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))