Checkit : Annual Report and Accounts 2025-26

About this update from Checkit Plc

Strategic report Corporate Governance Financial statements i Powering Predictive Operations Annual Report and Accounts 2026 ii Strategic report Checkit's mission is to eliminate operational waste by evolving standard operating procedures into Predictive Operations, thereby ensuring compliance, maximising productivity, and unlocking new value opportunities at scale. Our business model combines a cloud-based platform, integrated sensors, and mobile capabilities. The Checkit platform provides the capabilities and intelligence to drive automation, analytics, and operational predictability. Integrated sensors capture real-time data from physical environments, enabling seamless data logging, precise accuracy, and operational scalability of use cases and automation. Mobile capabilities enable a connected frontline workforce, aligning operational procedures and protocols while delivering value to customers with simplicity in mind. Our value proposition derives from combining predictability through data-driven insights, scalability via integrated sensors and use cases, and simplicity through intuitive mobile applications - enabling customers to establish, evolve, and expand Predictive Operations. 1 Financial highlights Annual Recurring Revenue (ARR)1 £14.3m +2% (FY25: £14.4m, or £14.0m at constant currency) Recurring Revenue £13.2m +2%4 (FY25: £13.1m) Adjusted EBITDA2 £0.3m +113% (FY25: loss of £2.3m) Group Bookings3 £1.4m -34% (FY25: £2.1m) Total Revenue £13.7m -2% (FY25: £14.1m) Net Cash £3.0m (FY25: £5.1m) Contents Strategic report Highlights 1 Company overview 2 Investment case 4 Non-Executive Chairman's statement 6 Chief Executive Officer's review 7 Market Overview 11 Platform Overview 12 Business model 14 Business strategy 16 Financial review 18 Strategy in action 20 Environment, Social and Governance 24 Stakeholder engagement and Section 172 28 Principal risks and uncertainties 30 Operational highlights EBITDA profitability achieved £0.8m EBITDA profit generated in H2. Core product UI/UX refresh Launch of redesigned user interface and improved user experience. Structural reduction in cost base £4.0m cost reduction programme implemented, resulting in a cash generative H2. High quality recurring revenue base 96% of total revenue recurring in nature, providing strong forward visibility supported by multi-year customer contracts. Annual Recurring Revenue (ARR) ...

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