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Investing.com -- German workforce-management software maker Atoss AG raised its 2026 operating margin target to about 37% on Friday, citing AI-driven efficiency gains that helped lift third-quarter operating profit 23% to €21.1 million, about 10% above analysts' expectations.

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The company, however, said it now expects full-year revenue at the lower end of its €210-€215 million range as sales of on-premise licences lag, and third-quarter revenue of €52.6 million came in slightly below the 53.1 million forecast in a Visible Alpha poll.

The company had already raised its previous target of at least 34% after the first quarter. Analysts had expected about 35%.

Third-quarter operating profit compares with €17.2 million a year earlier and analysts' forecast of €19.2 million. The operating margin was 40% versus 36% a year earlier, helped by cost control and AI productivity gains, mainly in software development.

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Third-quarter revenue rose about 11% from €47.2 million a year earlier. Cloud and subscription revenue rose about 26% to €29.5 million from €23.4 million. Licence revenue fell to €863,000 from €1.77 million.

In the first nine months, revenue rose 12% to €155.8 million and the operating margin was 37%, versus 35% a year earlier. Recurring revenue from cloud and maintenance was 73% of revenue, versus 70% a year earlier.

The cloud order backlog, covering fees customers have committed to pay over the next 12 months, rose 23% to €125.0 million. Annual recurring cloud revenue rose 25% to €119.4 million. New software contract value was slightly above last year's level.

Cash and other liquid assets rose 26% to €158.9 million. The company said recurring revenue is at the upper end of expectations and it is on track for a 21st consecutive record year.

Jefferies analysts said the company kept growing despite a weak economic backdrop, and that recurring revenue, 74% of third-quarter revenue versus 70% a year earlier, gives it good visibility of future sales. Cloud and subscription orders rose significantly from a year earlier, they said.

Supervisory board member Klaus Bauer stepped down on Sept. 30, ending his time as audit committee chairman. Chief Executive Andreas Obereder will move to the supervisory board at the turn of the year.

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