Checkit - Edison Group

Overview
Price performance
Financials
Research
Sector insights
Thematics

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 |
Update

12.09.24

Checkit — Contract expansions drive order intake

TMT |
Flash note

27.06.24

Checkit — No intention to bid for Crimson Tide

TMT |
Flash note

05.06.24

Checkit — Potential bid for Crimson Tide

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edison tv

25.04.24

Checkit – executive interview

Sector

TMT

Equity Analyst

Katherine Thompson

Katherine Thompson

Director

Key Management

Keith Daley

Chairman
Kit Kyte

CEO
Kris Shaw

CFO

Balance Sheet

Forecast net cash (£m)

5

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(7.1)	(25.0)	(13.3)
Relative	(5.9)	(24.7)	(22.1)
52 week high/low	27.0p/16.5p

Financials

In H125, Checkit reported year-on-year growth in annual recurring revenue (ARR) of 9%, with strong order intake partially offset by higher churn. Existing customers contributed more than half of ARR growth, evidence of the land and expand strategy at work. The company maintains its short- and medium-term outlook, including its target to reach EBITDA break-even in FY27, with the narrowing H125 EBITDA loss confirming progress towards this. We maintain our ARR, revenue and EBITDA forecasts and reduce our cash forecasts to reflect one-offs and higher R&D investment.

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)	(4.1)	N/A	N/A
2025E	14.2	(2.3)	(3.8)	(3.5)	N/A	N/A
2026E	16.9	(0.9)	(2.6)	(2.4)	N/A	N/A

Research

Outlook

TMT

19.07.23

Checkit — Adapting growth strategy to market conditions

Update

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24.04.23

Checkit — Land-and-expand focus paying off

TMT

Update

Checkit — Trading on track in tough environment

edison tv

TMT

15.03.23

Checkit – executive interview

Update

TMT

16.02.23

Checkit — FY23 ARR ahead of expectations

Flash note

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05.01.23

Checkit — US contract wins and major renewal

Update

TMT

15.09.22

Checkit — Moderating costs to accelerate breakeven

Update

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11.08.22

Checkit — ARR growth in a more cautious market

Update

TMT

28.04.22

Checkit — Growth strategy on track

Update

TMT

17.02.22

Checkit — FY22 ARR growth of 44%

Flash note

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01.02.22

Checkit — Three-year contract with Biomat in the US

Outlook

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17.12.21

Checkit — SaaS software for the deskless workforce

Flash note

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28.10.21

Checkit — BP contract expands relationship on a global scale

edison tv

TMT

05.10.21

Is it time to invest in the deskless revolution?

Update

TMT

17.09.21

Checkit — Bringing visibility to deskless worker operations

Update

TMT

12.08.21

Checkit — Further growth in recurring revenues

Update

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26.07.21

Checkit — Highlighting the opportunity

Update

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13.05.21

Checkit — Promising start to the year

Update

TMT

29.04.21

Checkit — On the front foot

edison tv

TMT

11.02.21

Checkit – executive interview

Update

TMT

11.02.21

Checkit — 33% growth in recurring revenue

Update

TMT

04.02.21

Checkit — Building foundations in the US

Initiation

TMT

01.12.20

Checkit — Smarter operations management

Further insights

insight

TMT

23.09.21

Seven things every investor needs to know about Checkit

thematic

Consumer

21.11.23

Deutsches Eigenkapitalforum (EKF) 2023 consumer and media

thematic

TMT

21.11.23

Deutsches Eigenkapitalforum (EKF) 2023 technology

thematic

TMT

07.11.23

MediaWatch – Still waiting…

thematic

TMT

28.07.23

MediaWatch – Targeting the opportunities

thematic

TMT

25.04.23

MediaWatch – Vision On

Digital Marketing and Internet Media Technology Platform

thematic

TMT

31.01.23

MediaWatch – Screening well

thematic

Consumer

05.10.22

IPO apocalypse

thematic

TMT

10.08.22

ESG, moving beyond the box tick

thematic

TMT

11.05.22

Direct tech investors

thematic

TMT

21.04.22

Seven things every investor needs to know about SenSen

thematic

Consumer

24.03.22

Circular economy business models

thematic

TMT

29.09.21

Quantum dots – all the colours of the rainbow

thematic

TMT

09.09.21

Micro-LEDs – small is beautiful

thematic

TMT

14.07.21

Five things every investor needs to know about Mynaric

thematic

TMT

16.08.20

Semiconductor winners – European companies with strong positions

thematic

TMT

24.06.20

The small satellite market – Small is beautiful

thematic

TMT

08.04.20

European video games: A safe haven in troubled times

thematic

TMT

27.02.20

Blockchain adoption: Implications for the financial services sector

thematic

Consumer

14.08.19

Illuminator: August Update

thematic

TMT

05.08.19

European video games

thematic

TMT

10.07.19

Diversification and scale for online success

thematic

TMT

08.05.19

5G – Strategic importance, but lacking a near-term commercial driver

thematic

TMT

26.02.19

UK video games – Heterogeneous not homogeneous

thematic

TMT

24.02.17

Mobile ecosystems

thematic

TMT

08.02.17

Mobile ecosystems

thematic

TMT

13.10.15

Mobile ecosystems

thematic

TMT

23.03.15

NZ – Edison talks tech

thematic

TMT

23.03.15

AUS – Edison talks tech

thematic

TMT

18.03.15

Mobile ecosystems

thematic

Consumer

11.11.14

Deutsche Börse Eigenkapitalforum 2014 Research Guide

thematic

TMT

15.10.14

Mobile ecosystems

thematic

Energy & Resources

04.03.14

ASX Spotlight Conference – London, 6 March 2014

thematic

Energy & Resources

01.03.13

ASX Small to Mid Caps Conference – London, 7 March 2013

thematic

TMT

24.09.10

The third pillar

thematic

TMT

10.09.10

The real disruptor

thematic

TMT

27.08.10

Merger mania is back