Business
Trading Update and Notice of Results
Trading Update and Notice of Results.
About this update from Checkit Plc
[{"type":"text","content":"\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF\n UK MARKET ABUSE REGULATION\n . UPON THE PUBLICATION OF THIS ANNOUNCEMENT THIS INSIDE INFORMATION IS CONSIDERED TO BE WITHIN THE PUBLIC DOMAIN.\n \n \n \n \n \n 16 February 2023\n \n \n \n \n \n \n \n \n Checkit plc\n \n \n \n (\"Checkit\" or the \"Group\")\n \n \n \n \n \n \n \n \n Trading Update and Notice of Results\n \n \n \n \n \n \n Checkit plc (AIM: CKT), the intelligent operations platform for the deskless worker, is pleased to report an unaudited trading update for the year ended 31 January 2023 (\"FY23\").\n \n \n \n \n \n \n \n \n \n \n (£'m) Reported\n \n \n \n \n \n \n Twelve months to\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n 31 January 2023\n \n \n \n \n Actual\n \n \n \n \n \n 31 January 2022\n \n \n Actual\n \n \n \n \n % Change\n \n \n \n \n \n \n \n ARR1\n \n \n \n \n \n \n 11.5\n \n \n \n \n \n \n 9.0\n \n \n \n \n \n 28%\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Revenue from continuing operations\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Recurring\n \n \n \n \n 9.6\n \n \n \n \n 6.8\n \n \n \n \n +41%\n \n \n \n \n \n \n Non-recurring\n \n \n \n \n 0.7\n \n \n \n \n 1.6\n \n \n \n \n (58) %\n \n \n \n \n \n \n \n Total Group\n \n \n \n \n \n \n 10.3\n \n \n \n \n \n \n 8.4\n \n \n \n \n \n \n 22%\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n ·\n ARR increased by 28% to £11.5m, vs. consensus market expectations of £10.8m (+20%)\n \n \n ·\n Net cash at 31 January 2023 of £15.6m vs. consensus market expectations of £15.2m\n \n \n \n \n \n ARR growth was better than expected during H2 amidst a challenging economic and political environment, driven by consistent sales momentum, with contracts signed offering further expansion opportunities underpinning the Board's confidence in future growth.\n \n \n \n \n \n Checkit has continued to expand into the US market, achieving 91% year on year ARR growth to £2.8m as a result of a number of contract wins, including continued growth in its footprint with its ...