German provider of workforce-management software, Atoss Software, has increased its revenue and earnings for the second quarter, leading to an upgraded outlook for 2023. The company now expects to achieve revenue of at least 142 million euros ($158 million) for the year as a whole, up from its previous estimate of EUR135 million. Additionally, Atoss Software is anticipating an earnings before interest and taxes margin of approximately 30%, compared to the prior projection of 27%.
During the second quarter, Atoss Software reported an operating profit of EUR12.6 million, a substantial increase from EUR7.8 million in the same period last year. This boost in profits can be attributed to the company’s strategic investment in research and development, allowing them to expand their technology leadership and grow their workforce.
Revenue also showed significant improvement, reaching EUR37 million in Q2, compared to EUR27.5 million in the previous year. Atoss Software highlighted that their software business was the primary driver of this growth, with their cloud business also experiencing expansion.
The company’s strong performance in the second quarter helped compensate for weaker demand in the first half of the year. Atoss Software benefited from a higher-than-planned order intake from the prior year, which contributed to a cloud order backlog of EUR56.3 million at the end of the first half, up from EUR43.3 million at the end of December.
Overall, Atoss Software’s positive financial results and optimistic outlook demonstrate their continued commitment to innovation and growth within the workforce-management software industry.