CKT has released a positive H1 update to July, which highlights continued strong ARR growth of +24% y/y to £12.6m, while FCF burn has almost halved - from £-5.0m to £-2.8m and so means Checkit is making meaningful steps towards breakeven. Progress on both fronts is very supportive of the investment case in our view. Driving this, CKT has continued to see very encouraging growth in the US – ARR: +41% y/y to £3.2m, while adjacent to this, upsell/cross-sell deals (with existing customers) also cont ....
10 Aug 2023
Marching on & taking strides towards breakeven
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Marching on & taking strides towards breakeven
Checkit plc (CKT:LON) | 20.5 0.2 5.1% | Mkt Cap: 22.1m
- Published:
10 Aug 2023 -
Author:
Harold Evans -
Pages:
3
CKT has released a positive H1 update to July, which highlights continued strong ARR growth of +24% y/y to £12.6m, while FCF burn has almost halved - from £-5.0m to £-2.8m and so means Checkit is making meaningful steps towards breakeven. Progress on both fronts is very supportive of the investment case in our view. Driving this, CKT has continued to see very encouraging growth in the US – ARR: +41% y/y to £3.2m, while adjacent to this, upsell/cross-sell deals (with existing customers) also cont ....