Checkit (AIM: CKT)

Currency in GBP

Last close As at 06/02/2023

GBP0.24

−4.00 (−14.55%)

Market capitalisation

GBP29m

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.

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.

Sector

TMT

Equity Analyst

Key Management

  • Greg Price

    CFO

  • Keith Daley

    Chairman

  • Kit Kyte

    CEO

Balance Sheet

Forecast net cash (£m)

15.2

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 44.7 52.8 (38.9)
Relative 39.3 38.2 (40.4)
52 week high/low 47.0p/14.0p

Financials

Checkit has made further progress with its US growth strategy, recently signing three new material contracts in the US with a total minimum value over three years of $1m. The company has also signed a contract renewal with a major UK customer, worth £2.1m over four years. These wins confirm Checkit’s ability to win new customers in the US and retain existing customers. We maintain our forecasts. An FY23 trading update is scheduled for 16 February 2023.

Y/E Jan Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2021A 13.2 (2.5) (3.1) (5.2) N/A N/A
2022A 13.6 (4.2) (4.7) (7.0) N/A N/A
2023E 10.4 (6.5) (7.6) (7.1) N/A N/A
2024E 12.5 (3.7) (5.2) (4.9) N/A N/A

Thematics

Digital Marketing and Internet Media Technology Platform

TMT

MediaWatch – January 2023

Consumer

IPO apocalypse

TMT

ESG, moving beyond the box tick

TMT

Direct tech investors

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