Investors sent Altium shares soaring higher throughout Tuesday, after the printed circuit board designer boosted its dividend and smashed earnings margin expectations.
Investors sent Altium shares soaring higher on Tuesday, after the printed circuit board designer lifted its dividend and smashed earnings margin expectations, riding the wave of the global computer parts shortage.
This move towards software-as-a-service saw recurring revenue make up 75 per cent of total revenue as underlying earnings before interest, tax, depreciation and amortisation grew 33 per cent to $US79.8 million. “This positive trend has accelerated our annual recurring revenue run rate and supports our drive toward our aspirational goal of $US500 million,” Mr Kostinsky said.
Bell Potter analysts seemed to agree, telling clients that Autodesk is still missing the range of functions performed by Altium’s cloud-based tool.
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