Sales bookings were in line with last year and we established our first $1m+ ARR US customer. Checkit has continued to deliver against its strategy to transition the business exclusively to higher quality and higher value recurring revenues. Shaun Dobson / Harry Gooden / George TzimasĪmidst a turbulent economic and political backdrop, Checkit has achieved a set of financial results in the first half of FY23 in line with Board expectations, generating an overall increase in ARR of 48% to £10.2m (FY22: £6.9m). Singer Capital Markets (Nominated Adviser & Broker) Management is accelerating its plan to achieve profitability and believes that monthly cash burn peaked in the period.Losses from continuing operations increased by £2m to £4.6m (H1 FY22: £2.6m) reflecting the planned winding down of the BEMS business and increased investment in the growth of the subscription business.Total revenue from continuing operations declined by 31% to £5.4m (H1 FY22: £7.9m), as a result of the previously announced discontinuance of one-off BEMS projects with minimal software input.H1 recurring revenue increased by 44% to £4.4m (H1 FY22: £3.1m), representing 82% of total revenue (H1 FY22: 39%). ![]() ![]() Annual recurring revenue ("ARR") increased year on year by 48% to £10.2m at period end (H1 FY22: £6.9m), reflecting upsell and customer wins.Interim results for the six months ended 31 July 2022Ĭheckit plc (AIM: CKT) announces its unaudited results for the six months ended 31 July 2022 (the "Period" or "H1 FY23"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE WITHIN THE PUBLIC DOMAIN. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF UK MARKET ABUSE REGULATION.
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