Ticketing technology services operator Accesso has lifted its revenue forecast for the year citing evidence of “pent-up customer demand” over the last two months.
The UK-headquartered company, which is traded on the London Stock Exchange’s AIM, said year-to-date revenues in 2021 are “significantly ahead of expectations” and is now expecting full year revenue to be in excess of $100m – well up on the $83m forecast delivered as recently as May.
As well as increased demand for tickets, Accesso said it has been positively impacted by the accelerating trend towards online commerce in its end markets with attractions and other leisure facilities looking to utilise its range of services including virtual queueing solutions.
Accesso, which serves over 1,000 clients in 30 countries, said that to capture the current long-term revenue opportunity, it is now deploying additional resources across technology implementation, product development and customer support. While these investments will have a limited impact on Cash EBITDA in 2021, it said their full annualised effect will be felt in the 2022 financial year.
Steve Brown, Accesso’s chief executive, said: “We are pleased by the robust results we are seeing as the leisure sector reopens. We’re working hard to capture strong pent-up demand alongside ensuring significantly higher utilisation across our solution set.
“As our end markets emerge from the pandemic, we will continue to respond with adjustments to our business in order capture the long-term value associated with this uptick in demand for our technology.”