Shore Capital Backs Accesso as New Strategy Gains Traction

Shore Capital, a broker that also counts Accesso Technology Group as a corporate client, sounded noticeably more optimistic this week. The firm said the ticket‑selling and tech company’s revamped strategy is finally showing signs of life – a welcome development after a rather mixed start to the year.

At the heart of the turnaround is a striking 49.7% surge in cash earnings for the first half of 2026, reaching $7.6 million. While revenue stayed relatively flat at $67.8 million, margins nudged higher to 11.2%, suggesting the business is getting better at turning sales into profit.

What’s really catching Shore’s eye is the rollout of accessoPay, a payments layer built in partnership with Adyen. It’s a modest‑looking addition, but the broker believes it could become an under‑appreciated earnings engine by tapping into the same transaction flows the company already processes for venues.

Equally intriguing is accesso Intelligence, the firm’s AI‑ and analytics platform. Early cross‑sell activity has already outpaced expectations, with several customers buying multiple Accesso solutions at once. It’s a small hint that the AI push isn’t just hype – it’s actually moving the needle.

Analyst Katie Cousins kept her full‑year revenue target steady at $146.5 million and cash earnings at $20.7 million, but she trimmed margin forecasts a touch. The adjustment reflects a broader market reality and the fact that Accesso is ploughing a bit more cash into near‑term investments.

From a valuation perspective, Shore thinks the market is undervaluing the upside. The stock trades at roughly 5.7 × forecast cash earnings and 11.3 × earnings, while delivering an 11% free‑cash‑flow yield – numbers that look attractive compared with peers.

The half‑year results also revealed some solid customer wins: seventeen new venues signed on, many opting for bundled product packages. That kind of breadth‑of‑adoption is exactly the kind of momentum the company’s leadership hoped to generate after the strategic overhaul earlier this year.

Of course, the real test still lies ahead. The autumn trading season – which includes the busy Halloween period – looms on the calendar, and it will be a good barometer for whether the new offerings can sustain growth beyond the early‑year bump.

All told, Shore Capital’s endorsement adds a bit of confidence for investors watching Accesso’s evolution. With cash earnings climbing, AI and payments solutions gaining traction, and a valuation that seems generous, the broker believes the company is finally on a path where the strategy starts to pay off.