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Checkit (AIM: CKT)

Last close As at 19/09/2024

GBP0.21

▲ 0.50 (2.44%)

Market capitalisation

GBP23m

Checkit optimises the performance of people, processes and physical assets with its intelligent operations software. It is headquartered in Cambridge, UK, and has operations centres in Fleet, UK, and Tampa, US.

Checkit’s workflow management software connects and empowers 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.

Latest Insights

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TMT | Update

Checkit — Contract expansions drive order intake

TMT | Flash note

Checkit — No intention to bid for Crimson Tide

TMT | Flash note

Checkit — Potential bid for Crimson Tide

TMT | edison tv

Checkit – executive interview
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Sector

TMT

Equity Analyst

Katherine Thompson

Key Management

  • Greg Price

    CFO

  • Keith Daley

    Chairman

  • Kit Kyte

    CEO

Balance Sheet

Forecast net cash (£m)

5

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (8.7) (6.7) (27.6)
Relative (8) (7.6) (33.3)
52 week high/low 30.5p/18.5p

Financials

In H125, Checkit reported year-on-year growth in annual recurring revenue (ARR) of 9%, with strong order intake partially offset by higher churn. Existing customers contributed more than half of ARR growth, evidence of the land and expand strategy at work. The company maintains its short- and medium-term outlook, including its target to reach EBITDA break-even in FY27, with the narrowing H125 EBITDA loss confirming progress towards this. We maintain our ARR, revenue and EBITDA forecasts and reduce our cash forecasts to reflect one-offs and higher R&D investment.

Y/E Jan Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2023A 10.3 (6.4) (7.3) (6.9) N/A N/A
2024A 12.0 (3.4) (4.2) (4.1) N/A N/A
2025E 14.2 (2.3) (3.8) (3.5) N/A N/A
2026E 16.9 (0.9) (2.6) (2.4) N/A N/A

Research

Flash note

TMT

Checkit — No intention to bid for Crimson Tide

Flash note

TMT

Checkit — Potential bid for Crimson Tide

TMT

Update

Checkit — Contract expansions drive order intake
View All

Further insights

insight

Seven things every investor needs to know about Checkit

Thematics

thematic

TMT

MediaWatch – Encouragements and frustrations

thematic

TMT

MediaWatch – Glimpses of positivity

thematic

TMT

MediaWatch – Rinse and repeat

thematic

Consumer

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media
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