10 Jan 2022
Quartix Technologies - Fleet subscriptions grow at 17% as earnings beat expectations
Today’s post YE update reveals a strong 2H Fleet performance. FY21 revenue, cashflow and YE net cash are in line with expectations; however, Adj EBITDA is substantially ahead of forecast at £5.7m (v. £5.0m expected) since the incremental investment in sales and marketing planned for 2H21 was held back in light of the Omicron wave. Despite the pandemic, strong growth continues in the Fleet telematics business, both in the core UK market and particularly in the overseas operations. As flagged, nea ....
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Quartix Technologies - Fleet subscriptions grow at 17% as earnings beat expectations
Quartix Technologies PLC (QTX:LON) | 155 7.8 3.2% | Mkt Cap: 75.0m
- Published:
10 Jan 2022 -
Author:
Michael Hill | Cavendish Research -
Pages:
9
Today’s post YE update reveals a strong 2H Fleet performance. FY21 revenue, cashflow and YE net cash are in line with expectations; however, Adj EBITDA is substantially ahead of forecast at £5.7m (v. £5.0m expected) since the incremental investment in sales and marketing planned for 2H21 was held back in light of the Omicron wave. Despite the pandemic, strong growth continues in the Fleet telematics business, both in the core UK market and particularly in the overseas operations. As flagged, nea ....