Trading Statement
Summary by AI BETAClose X
Quartix Technologies plc
("Quartix", "the Group" or "the Company")
Quartix Technologies plc, a leading supplier of subscription-based vehicle tracking systems, software and services, is pleased to report that it will publish interim results for the six-month period ending 30 June 2026 (the "Period") on Monday 27 July 2026. They will be posted on the Company's website that morning, together with an accompanying presentation.
Estimated Financial Results for the Period
Management estimates that the financial results for the Period will be as follows:
· Revenue: £19.4m (**restated H1 2025: £17.3m)
· EBITDA £6.9m (restated H1 2025: £6.2m)
· Adjusted EBIT £4.6m (restated H1 2025: £4.0m)
· Free cashflow: £2.6m (H1 2025: £2.5m).
· Closing cash balance of £4.7m (H1 2025: £4.1m)
Notes:
These figures may be subject to revision following completion of management accounts for June and preparation of the interim results.
**Included within the Annual Report for 2025, which can be accessed on the Company website, is an explanation for the change in accounting policy that was processed in the 2025 financial statements.
The estimated free cashflow is stated after accounting for a £1.1m corporation tax payment in relation to the Group's change in accounting policy on property, plant and equipment (IAS 16) at the end of 2025 and the Company anticipates making an additional payment of approximately £400k in July following the refiling of the 2024 tax return.
Annualised Recurring Revenue ("ARR")
ARR is the key forward-looking measure of growth for the Company and an important indicator of shareholder value. ARR reported by the Company relates solely to committed software subscription revenues and does not include other service revenues which may recur.
On a trailing-twelve-month ("TTM") basis to 30 June 2026 the Company's ARR has grown by £3.8m, or 11% (30 June 2025: £4.1m TTM) reflecting continued double-digit growth. £2.1m of this growth was achieved during the Period.
Net revenue retention ("NRR") on a TTM basis marginally decreased from 97.3% in June 2025 to 96.9% at the end of the Period. The reduction in NRR was primarily attributable to the UK which had delivered 100% NRR in the 12 months to 30 June 2025. Improvement in this measure is targeted across all territories.
Measures of ARR and ARR growth are calculated on a constant-currency basis2.
Customer acquisition
On a TTM basis the customer base grew by 6% to 33,550 and the total subscription base increased by 7% to 342,679, demonstrating the resilience and quality of the Group's recurring revenue model.
Although the number of new customers acquired and new subscriptions installed in the Period were weaker than in the same period last year, (decreasing by 8% to 3,632 and by 11% to 36,226, respectively), the Company has a good order backlog for installation in the second half.
The key metrics for the Group are shown below:
|
Country |
ARR Growth in Period (£m) |
ARR (£m) |
TTM Growth |
New Subscriptions (units) |
Subscription Base (units) |
TTM Growth |
New Customers |
Customer Base |
TTM Growth |
|
UK/EI |
0.7 |
20.4 |
7% |
12,248 |
167,891 |
2% |
832 |
12,019 |
1% |
|
France |
0.8 |
10.6 |
14% |
12,015 |
96,770 |
11% |
1,169 |
10,101 |
6% |
|
USA |
0 |
3.4 |
1% |
2,990 |
29,025 |
(3%) |
402 |
3,883 |
(3%) |
|
Italy |
0.3 |
2.2 |
39% |
4,701 |
23,408 |
38% |
620 |
3,560 |
33% |
|
Spain |
0.2 |
1.4 |
31% |
2,831 |
16,638 |
27% |
417 |
2,704 |
15% |
|
Germany |
0.1 |
0.9 |
20% |
1,409 |
8,586 |
14% |
188 |
1,224 |
14% |
|
Other |
- |
- |
(21%) |
32 |
361 |
(24%) |
4 |
59 |
(17%) |
|
Total |
2.1 |
38.9 |
11% |
36,226 |
342,679 |
7% |
3,632 |
33,550 |
6% |
Outlook
The Company is confident of achieving market expectations1 for the year for revenue, Adjusted EBIT and free cashflow and expects to declare an interim dividend of 2.7p per ordinary share (2025: 2.5p).
Andy Walters, Executive Chairman of Quartix, commented:
" We have made solid progress in the first half of 2026. Over the past 12 months, annualised subscription revenue has increased by £3.8m, or 11%, to £38.9m, representing continued double-digit growth. We enter the second half of the year with a strong order book for installation and expect improved performance in H2. The Board is confident of delivering results for the full year in line with market expectations."
Notes:
1 The Company believes that market expectations for 2026 were, prior to this announcement, revenue £40.3m, adjusted EBIT £10.1m, EBITDA of £15.0m, and free cashflow of £4.9m.
2 Comparisons made on the basis of constant-currency measurements are based on closing exchange rates applicable at 30/6/2026 of $1.3221 and €1.1604 to pounds sterling.
For further Information please contact:
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