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accesso Technology
(LSE:ACSO)
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Rating:70Outperform
Price Target:
358.00 p
▲(18.94% Upside)
Action:Reiterated
Date:09/15/26
The score is primarily driven by solid financial performance (strong growth and low leverage) and a moderately attractive P/E. These positives are tempered by mixed technical momentum and an earnings call that was constructive on strategy and cost control but flagged near-term revenue headwinds (virtual queuing decline, milestone slippage, and lower expected H2 revenue year-over-year).
Positive Factors
Strong profitability and gross margin
Recent revenue expansion, consistently positive profitability and a gross margin near 78% indicate a scalable software model with meaningful economic value. Although margins have moderated from earlier peaks, the combination supports reinvestment, resilience and durable earnings potential over the next several quarters.
Negative Factors
Virtual queuing revenue pressure
The sharp decline in virtual queuing revenue is a meaningful setback because it offset growth elsewhere and is expected to weigh on the second half. Contract changes may reduce the contribution of a previously important product, making near-term revenue recovery dependent on other businesses.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability and gross margin
Recent revenue expansion, consistently positive profitability and a gross margin near 78% indicate a scalable software model with meaningful economic value. Although margins have moderated from earlier peaks, the combination supports reinvestment, resilience and durable earnings potential over the next several quarters.
Read all positive factors
accesso Technology (ACSO) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£100.42M
Dividend YieldN/A
Average Volume (3M)51.73K
Price to Earnings (P/E)15.3
Beta (1Y)0.74
Revenue Growth-1.05%
EPS Growth-2.05%
CountryUK
Employees617
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.27
Shares Outstanding33,282,875
10 Day Avg. Volume59,107
30 Day Avg. Volume51,734
Financial Highlights & Ratios
PEG Ratio0.58
Price to Book (P/B)0.89
Price to Sales (P/S)1.10
P/FCF Ratio6.01
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£562.50Price Target Upside86.88% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.38
Revenue Forecast (FY)£146.13M
accesso Technology Business Overview & Revenue Model
Company Description
Established in 2000 and headquartered in Twyford, United Kingdom, accesso Technology Group plc provides advanced technology solutions tailored for the worldwide attractions and leisure sector. The company operates through two core divisions: Ticke...
accesso Technology Earnings Call Summary
Earnings Call Date:Sep 15, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 23, 2027
Earnings Call Sentiment Positive
The call was predominantly optimistic. Management maintained full-year guidance, reported nearly 50% growth in cash EBITDA, reduced underlying admin costs by 6.1%, and highlighted substantial progress in AI, payments, multiproduct adoption and the commercial pipeline. These positives were offset by flat reported revenue, a 50% decline in virtual queuing revenue, lower operating cash generation, Middle East milestone slippage, and slower customer decision cycles caused by AI uncertainty.Positive Updates
Cash EBITDA Increased Nearly 50%
Cash EBITDA was $7.6 million for H1 2026, almost 50% up on the prior period.
Negative Updates
Reported Revenue Remained Flat
H1 revenue was $67.8 million and remained flat period-over-period because growth in ticketing and distribution was offset by changes to queuing contracts.
Read all updates
Q2-2026 Updates
Positive
Negative
Cash EBITDA Increased Nearly 50%
Cash EBITDA was $7.6 million for H1 2026, almost 50% up on the prior period.
Read all positive updates
Company Guidance
Accesso is holding guidance at $146 million revenue and approximately $20 million in EBITDA; July and August were broadly in line, with peak periods still to come around October and the early ski period at the end of the year, while $1.3 million of Saudi revenue is expected for the rest of the year versus $1.8 million previously expected, with 2 venues pushed into 2027. For payments, 13 customers have signed and contracted, representing about $50 million of total processing volume, with line of sight to about $300 million in relatively short order into next year and a total payments TAM of low $1 billion in terms of total processing volume.accesso Technology Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 154.07M | 158.36M | 152.29M | 149.51M | 139.73M | 124.79M |
| Gross Profit | 112.59M | 116.88M | 119.01M | 114.25M | 103.96M | 96.39M |
| EBITDA | 23.50M | 22.28M | 21.91M | 21.07M | 25.33M | 26.37M |
| Net Income | 10.02M | 11.22M | 9.08M | 7.69M | 10.06M | 22.02M |
Balance Sheet | ||||||
| Total Assets | 256.66M | 255.73M | 263.38M | 273.97M | 228.10M | 229.86M |
| Cash, Cash Equivalents and Short-Term Investments | 33.35M | 41.39M | 42.77M | 51.81M | 64.66M | 64.05M |
| Total Debt | 27.39M | 12.04M | 15.47M | 22.32M | 1.22M | 3.74M |
| Total Liabilities | 78.15M | 59.54M | 66.54M | 80.47M | 42.71M | 46.67M |
| Stockholders Equity | 178.51M | 196.20M | 196.84M | 193.50M | 185.39M | 183.19M |
Cash Flow | ||||||
| Free Cash Flow | 26.29M | 29.13M | 9.00M | 22.20M | 10.45M | 37.43M |
| Operating Cash Flow | 26.79M | 29.73M | 12.05M | 25.69M | 14.47M | 39.11M |
| Investing Cash Flow | -8.50M | -8.38M | -2.35M | -52.64M | -3.79M | -1.64M |
| Financing Cash Flow | -19.95M | -24.61M | -17.15M | 12.46M | -7.55M | -30.00M |
accesso Technology Technical Analysis
Positive
301.00
Price Trends
302.66
Positive
309.89
Positive
286.64
Positive
Market Momentum
2.96
Negative
52.73
Neutral
22.42
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:ACSO, the sentiment is Positive. The current price of 301 is below the 20-day moving average (MA) of 307.20, below the 50-day MA of 302.66, and above the 200-day MA of 286.64, indicating a bullish trend. The MACD of 2.96 indicates Negative momentum. The RSI at 52.73 is Neutral, neither overbought nor oversold. The STOCH value of 22.42 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:ACSO.
accesso Technology Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | £194.51M | 50.22 | 11.31% | 0.52% | 16.89% | 2.68% | |
72 Outperform | £215.12M | 24.10 | 15.05% | 3.43% | 6.41% | 10.61% | |
70 Outperform | £100.42M | 15.30 | 5.35% | ― | -1.05% | -2.05% | |
64 Neutral | £166.93M | 18.27 | 8.80% | 2.20% | 3.82% | -18.43% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
61 Neutral | £73.51M | -30.38 | -3.58% | 2.99% | -5.90% | -207.35% | |
56 Neutral | £69.58M | -20.06 | -26.19% | ― | 47.75% | -308.39% |
* Technology Sector Average
GB:ACSO
accesso Technology
310.00
-58.00
-15.76%
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55.00
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GB:AOM
ActiveOps plc
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GB:SAAS
Microlise Group Holdings Ltd.
63.50
-52.69
-45.35%
accesso Technology Corporate Events
Business Operations and StrategyStock BuybackFinancial DisclosuresM&A Transactions
Accesso Holds Revenue Steady as New CEO Drives AI-Led Platform Strategy
Positive
Sep 15, 2026
Accesso Technology Group reported interim results for the six months to 30 June 2026 broadly in line with expectations, with group revenue steady at $67.8m as growth in ticketing and distribution offset a planned decline in guest experience revenu...
Business Operations and StrategyFinancial Disclosures
Accesso stays on track for 2026 targets as integrated tech platform gains traction
Positive
Aug 3, 2026
Accesso Technology Group reported resilient trading for the first half of fiscal 2026, in line with board expectations and supported by cost-efficiency measures that have freed resources for selective investment in AI and payments capabilities. Un...
Business Operations and Strategy
Accesso contains IT security breach with limited operational impact
Negative
Aug 3, 2026
Accesso Technology Group has disclosed an IT security incident involving temporary unauthorised access to a limited part of its systems, which it says has not caused downtime or major disruption to operations or customer services. The breach, whic...
Business Operations and Strategy
Accesso Adds Shore Capital as Joint Corporate Broker to Bolster AIM Market Support
Positive
Jul 29, 2026
Accesso Technology Group plc, a specialist in technology solutions for leisure, entertainment and cultural venues, has appointed Shore Capital Stockbrokers Limited as its joint corporate broker. Shore Capital will work alongside Deutsche Numis, wh...
Business Operations and StrategyExecutive/Board Changes
Accesso Strengthens Board with Appointment of Veteran Software Finance Leader
Positive
Jul 20, 2026
Accesso Technology Group plc, the AIM-listed provider of ticketing, POS, virtual queuing and experience management software for leisure, entertainment and cultural venues, supports more than 1,100 clients worldwide. Its RD-led strategy focuses on ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.