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Checkit (AIM: CKT)

Last close As at 02/07/2024

GBP0.25

▲ 0.50 (2.08%)

Market capitalisation

GBP25m

Checkit optimises the performance of people, processes and physical assets with its intelligent operations software. It is headquartered in Cambridge, UK, and has operations centres in Fleet, UK, and Tampa, US.

Checkit’s workflow management software connects and empowers deskless mobile workers who are not able to use desktop software in their day-to-day working environment. Only a small proportion of the current enterprise software market is designed for this group of workers. Checkit’s sweet spot is supporting workers who perform a combination of routine tasks and infrequent but important tasks where the volume and variety of tasks is such that it is difficult to build a targeted application.

Latest Insights

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TMT | Flash note

Checkit — No intention to bid for Crimson Tide

TMT | Flash note

Checkit — Potential bid for Crimson Tide

TMT | edison tv

Checkit – executive interview

TMT | Update

Checkit — Signposting the path to profitability
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Sector

TMT

Equity Analyst

Katherine Thompson

Key Management

  • Greg Price

    CFO

  • Keith Daley

    Chairman

  • Kit Kyte

    CEO

Balance Sheet

Forecast net cash (£m)

5.5

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (11.5) 4.6 15.0
Relative (10.4) 0.9 3.9
52 week high/low 30.5p/18.5p

Financials

On 26 June, Checkit announced that it did not intend to make a formal bid for Crimson Tide. Since Checkit’s original and revised all-equity proposals, another bidder, Ideagen, has expressed an intention to make an all-cash bid at a significantly higher price. Checkit will now refocus on organic growth and working towards profitability. Separately, an input VAT dispute with HMRC has concluded in Checkit’s favour, removing the related contingent liability.

Y/E Jan Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2023A 10.3 (6.4) (7.3) (6.9) N/A N/A
2024A 12.0 (3.4) (4.2) (4.0) N/A N/A
2025E 14.2 (2.3) (3.4) (3.1) N/A N/A
2026E 16.9 (0.9) (2.5) (2.3) N/A N/A

Update

TMT

Checkit — FY23 ARR ahead of expectations

Flash note

TMT

Checkit — US contract wins and major renewal

Update

TMT

Checkit — Moderating costs to accelerate breakeven

Update

TMT

Checkit — ARR growth in a more cautious market

Update

TMT

Checkit — Growth strategy on track

Update

TMT

Checkit — FY22 ARR growth of 44%

Flash note

TMT

Checkit — Three-year contract with Biomat in the US

Outlook

TMT

Checkit — SaaS software for the deskless workforce

Flash note

TMT

Checkit — BP contract expands relationship on a global scale

edison tv

TMT

Is it time to invest in the deskless revolution?

Update

TMT

Checkit — Bringing visibility to deskless worker operations

Update

TMT

Checkit — Further growth in recurring revenues

Update

TMT

Checkit — Highlighting the opportunity

Update

TMT

Checkit — Promising start to the year

Update

TMT

Checkit — On the front foot

edison tv

TMT

Checkit – executive interview

Update

TMT

Checkit — 33% growth in recurring revenue

Update

TMT

Checkit — Building foundations in the US

Initiation

TMT

Checkit — Smarter operations management