Despite a challenging market environment, Checkit has grown annualised recurring revenue (ARR) by 48% y-o-y to £10.2m at the end of H123 and looks on track to meet our FY23 forecasts. Having made the strategic decision to focus on its platform for deskless workers, Checkit’s H123 recurring revenue grew 44% to make up 82% of total revenue. The company plans to accelerate its path to profitability; we maintain our forecasts pending further detail on these plans.

11 Aug 2022
Checkit - ARR growth in a more cautious market

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Checkit - ARR growth in a more cautious market
Checkit plc (CKT:LON) | 15.0 0 0.0% | Mkt Cap: 16.2m
- Published:
11 Aug 2022 -
Author:
Katherine Thompson -
Pages:
3 -
Despite a challenging market environment, Checkit has grown annualised recurring revenue (ARR) by 48% y-o-y to £10.2m at the end of H123 and looks on track to meet our FY23 forecasts. Having made the strategic decision to focus on its platform for deskless workers, Checkit’s H123 recurring revenue grew 44% to make up 82% of total revenue. The company plans to accelerate its path to profitability; we maintain our forecasts pending further detail on these plans.