The Aconex Ltd (ASX: ACX) share price is up 5.4% today despite the software-as-a-service business releasing no news to the market today. Aconex shares have been volatile ever since the business hit the ASX boards back back in December 2014 as the market struggles to value the business.
Over FY 2017 the group delivered revenues of $161.2 million, but a net loss of $10.2 million. Operating income (EBITDA) came in at $15 million, which represented a gain of 10% on the prior year. For FY 2018 the group is forecasting revenue growth of 15%-19% with EBITDA higher than the prior year. Over the "medium to long term" it is also forecasting revenue growth of 20%+ alongside increasing EBITDA.
Aconex is one of a group of new software-related technology shares on the ASX including Altium Limited (ASX: ALU) and WiseTech Global Ltd (ASX: WTC) that have surged in price over the past six months. As such Aconex may have a strong 2018 if it delivers on its forecasts.
