TechnologyOne: The Australian Oracle

I like companies that have a clear objective - and ideally - just one clear objective. It gives the board and employees something to focus on and prioritise. The Australian software company, TechnologyOne (ASX:TNE) has a very clear objective. In the past, that objective has been to get to $500mn annual recurring revenue (ARR), which they met 18 months earlier than initially expected. Now, their clear objective is targeting $1bn ARR by 2030. That's effectively five years to double in size. This ambition to double in size every five years appears to have been built into the company's culture for a while now - perhaps explaining why their share price is up 3,916% since they IPO'd at the height of the dot-com bubble.