GEO issues higher earnings guidance as trading resumes

Thu, 09 Nov 2023

Following a two-day trading halt, software as a service provider GEO has issued stronger earnings guidance and said achieving breakeven could come in early 2024.Its board also said initial interest received has justified launching a formal process to assess buyer interest in the company.The company said thanks to higher prices, its annualised recurring revenue (ARR) is now expected to be $4-4.2 million at Dec 31 2023, which would be 20-25% growth on the June 30 figure.This rate of growth is unlikely to be sustained, as future price increases ar...

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