Company did not provide specific guidance for the current quarter or full year in the press release
Overview
Infrastructure software firm's Q2 revenue rose 13% but slightly missed analyst expectations
Adjusted EPS for Q2 increased to $0.35 from $0.32 a year earlier
Company saw strong growth in subscriptions and ARR, led by Resources and Public Works/Utilities
Result Drivers
Sector demand - Growth led by Resources sector and Public Works/Utilities, according to CEO Nicholas Cumins
AI integration - Co reported progress in integrating AI into engineering applications, with early customer adoption and positive feedback
Platform investment - Implementation of new finance and quote-to-cash platforms absorbed within margin targets, laying foundation for future efficiency
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
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