Technology consultancy firm Atturra cracks $300 million revenue mark

Australian tech and business consultancy Atturra has pushed its revenues beyond the $300 million mark, growing by a further 24 percent despite what the firm described as a challenging market.

Marginally eclipsing the $300 million revenue mark, by just $600,000, Atturra latest twelve-month growth spurt to July represents a slight slowdown on the previous period’s figures, when it jumped 36 percent to $243 million following a 32 percent rise the year prior.

Still, the latest period of growth maintains a four-year CAGR of above 30 percent, with the firm having more than doubled its revenues since its ASX-listing in 2022. And despite the recent dip, Atturra is forecasting revenues to further boom to $384 million over the current period.

At present, the firm has a headcount of more than 1,200 employees spread across business applications, data & integration, managed services, cloud solutions, and advisory, with its public sector business accounting for 38 percent of its revenues followed by the education, energy & resources, and manufacturing sectors each contributing between 8 percent and 14 percent.

Atturra chairman Shan Kanji noted the impressive growth had been achieved against a backdrop of “unfavourable economic conditions, and in particular a challenging Canberra market,” while CEO Stephen Kowal acknowledged much of it was due to recent acquisitions.

All up, Atturra made six purchases over the course of its past financial year, including management consultancy Exent, SAP specialists Chrome Consulting and DalRae Solutions, and manufacturing solutions provider ComActivity. The acquisitions of managed services provider Plan B and Boomi partner Kitepipe also extended the firm’s reach to New Zealand and the US.

They’re part of the more than a dozen bolt-ons added since Atturra’s formation, which itself emerged out of a previous acquisition spree executed by forerunner FTS Group ahead of its rebranding and IPO. While the firm’s latest addition, Melbourne-based IT services provider Blue Connections, sits within the current period, Atturra is suggesting a slowdown in such activity.

Growth strategy

“It was an unusually busy year, but you’ll probably see us do a few bigger acquisitions and then super niche and specialised ones,” Kowal told online industry publication techpartner.news. “You can never quite plan it out, because you don’t know what’s coming to market, but theoretically, from a planning point of view, I would anticipate a lower overall volume moving forward.”

Being publicly-listed, Atturra has a very transparent commitment to growth, and continues to aim at least 20 percent-plus per year through a mix of organic and M&A activity. It’s unclear what the business would be worth if it went to market now, but CyberCX, which reportedly had revenues almost exactly that of Atturra’s current forecast, just sold to Accenture for a sum thought to be above $1 billion.

“Last year, we experienced a relative increase in revenue outside the Canberra market, and I anticipate the trend will continue this year”, Kanji concluded. “We have remained a strong presence in the Canberra market, so when demand increases – and I believe it is a matter of when, not if – Atturra as a sovereign, end-to-end IT solutions provider is set to come out stronger.”