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Checkit

LN: CKT

Market Cap£33.1m

Last Close 53p

Checkit optimises the performance of people, processes and physical assets with connected digital solutions. It is headquartered in Cambridge, UK and has its operations centre in Fleet, UK.

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Investment summary

Checkit grew normalised revenue 13% y-o-y in H122, with 16% h-o-h growth in annual recurring revenue (ARR). In H122, Checkit invested to grow its salesforce, enhance its technology platform and expand in the US, with the aim of capitalising on the opportunity in the deskless worker market. Management is confident about the outlook for the remainder of the year; our estimates are broadly unchanged.

Y/E Jan
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2020A 9.8 (4.9) (6.4) (4.0) N/A N/A
2021A 13.2 (2.5) (3.1) (5.2) N/A N/A
2022E 15.2 (3.7) (4.5) (7.2) N/A N/A
2023E 17.8 (2.0) (2.7) (4.4) N/A N/A
Industry outlook

With its workflow management software, Checkit is focused on connecting and empowering deskless mobile workers who are not able to use desktop software in their day-to-day working environment. Only a small proportion of the current enterprise software market is designed for this group of workers. Checkit’s sweet spot is supporting workers who perform a combination of routine tasks and infrequent but important tasks where the volume and variety of tasks is such that it is difficult to build a targeted application.

Last updated on 07/10/2021
Content on Checkit
Is it time to invest in the deskless revolution?
TMT | Edison TV | 5 October 2021
Checkit – Highlighting the opportunity
TMT | Update | 26 July 2021
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Share price graph
Balance sheet
Forecast net cash (£m) 5.1
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (7.8) (7.0) 17.8
Relative* (5.9) (5.9) (2.7)
52-week high/low 66.0p/44.0p
*% relative to local index
Key management
Keith Daley Chairman
Kit Kyte CEO
Greg Price CFO