accesso identifies future growth targets

September 25, 2023

Access technology provider accesso Technology Group has announced that it is in a strong position for future growth having made three recent acquisitions.

While reporting a loss before tax of US$840,000on the six months to 30th June, the UK-based technology provider advised that the loss came during a period when it spent US$2.5 milion related to its acquisitions of VGS, Paradocs Mountain Software and Digisoft.

Reporting revenue of US$65.8 million in the first six months of the year - an increase of 3.2% from a year ago as visitor demand stabilised after the pandemic rebound - accesso noted that its income was also impacted by lower contributions from an unnamed major USA-based customer and an increasingly competitive UK distribution market.

Cash EBITDA for the period was down 39% to US$6.5 million, which Accesso said was in line with expectations, reflecting the expected increase in overheads as staffing increased and investment was made in acquisitions and other growth opportunities.

Growth was delivered with a 14.3% revenue increase in accesso LoQueue as well as 15.1% growth in its assigned seating product, accesso ShoWare, across both North and South American markets.

During the period, accesso signed 16 new venues across attractions, live entertainment, water parks, zoos and aquariums, and theme parks. The group also signed five ski resorts including the first accesso Paradox customer post-acquisition, along with three further wins post period end.

Commenting on the results, accesso Chief Executive, Steve Brown stated “I am extremely proud of our team for continuing to deliver high quality results alongside the effort to complete three acquisitions that further pave the way for our future growth. Looking ahead, we anticipate our performance for the full year 2023 to be in line with our expectations.

“As anticipated, demand has stabilised following a period of accelerated growth, and after two years of temporarily reduced overheads, improved hiring conditions mean we have been able to successfully recruit for open positions.

“Having navigated our business through the pandemic and capitalised on a generational shift in attitudes towards technology in our sector, we are now deepening our focus on Accesso’s long-term future.”

Brown went on to say “we have also made high value improvements to our existing product set to extend our leadership and expand our opportunities.”

accesso releases new ski app
accesso has also announced a new iteration of its ski mobile app offering, featuring powerful enhancements - as well as all-new features and functionality - to help operators redefine the skier experience.

Commenting on the addition to its product range, accesso Senior Vice President of Enterprise Solutions, Ben Mathews noted “with the launch of our enhanced mobile app offering for ski, we’re introducing new tools and integrations that eliminate friction throughout the day, allowing guests to increase their time on the mountain.

“Today, skier expectations for what makes a ‘great day on the mountain’ are higher than ever. With the help of these new tools, our clients can facilitate the experiences their guests are demanding and keep them informed of the ones they may not know about.”

Click here to contact accesso via their entry in the Australasian Leisure Management Supplier Directory.

Images: accesso's Qsmart virtual queuing technology (top) and the company now has a new ski app (below).

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