Quartix Technologies (QTX)

Sector:

IT Services

Index:

FTSE AIM All-Share

278.00p
   
  • Change Today:
      14.00p
  • 52 Week High: 286.00p
  • 52 Week Low: 140.50p
  • Currency: UK Pounds
  • Shares Issued: 48.43m
  • Volume: 76,755
  • Market Cap: £134.64m
  • RiskGrade: 331

Quartix Technologies reports 10pc rise in first-half revenue

By Josh White

Date: Monday 29 Jul 2024

LONDON (ShareCast) - (Sharecast News) - Vehicle tracking systems specialist Quartix Technologies reported a 10% improvement in first-half group revenue on Monday, to £16.1m, up from £14.6m in the same period last year.
The AIM-traded firm said the growth was primarily driven by a 10% rise in fleet revenue, which accounted for £16m of the total revenue, maintaining its substantial contribution at 99.3% of overall revenue.

Adjusted EBITDA remained steady at £2.7m, consistent with the prior year.

Operating profit and profit before tax both saw a 13% increase, reaching £2.7m compared to £2.4m in the first half of 2023.

Diluted earnings per share rose to 4.49p, up from 4.16p.

Despite those gains, free cash flow decreased by 21% to £1.1m from £1.4m, which the board put down to higher tax and investing activities.

An interim dividend of 1.5p per share was proposed, unchanged from last year.

Quartix said its strategic focus remained on expanding its subscription base profitably and increasing annualised recurring revenue (ARR).

The company achieved an 11% year-on-year growth in ARR, which rose by £3.04m on a constant exchange rate basis to £30.94m as of 30 June.

"The company made very substantial progress in the first half of the year: new subscriptions increased by 13% compared to 2023 and this led to record growth in annualised recurring revenues which increased by 11% to £30.9m over the past year," said executive chairman Andrew Walters.

"Two thirds of this increase in annualised recurring revenue was achieved since 1 January.

"Remaining operating and liquidation costs associated with the Konetik acquisition were all taken in the first half and other administrative and operating costs have been well controlled during the period."

Walters said the issues the company faced in 2023 had now been put behind it, enabling it to refocus strongly on its core business and to structure for further growth.

"The board is confident in the outlook for the remainder of the year and now believes that both revenue and profit will moderately exceed market expectations.

"The company looks forward to 2025 and the future with confidence."

At 1138 BST, shares in Quartix Technologies were up 15.62% at 185p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

QTX Market Data

Currency UK Pounds
Share Price 278.00p
Change Today 14.00p
% Change 5.30 %
52 Week High 286.00p
52 Week Low 140.50p
Volume 76,755
Shares Issued 48.43m
Market Cap £134.64m
RiskGrade 331

QTX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
98.84% below the market average98.84% below the market average98.84% below the market average98.84% below the market average98.84% below the market average
89.61% below the sector average89.61% below the sector average89.61% below the sector average89.61% below the sector average89.61% below the sector average
Price Trend
85.52% above the market average85.52% above the market average85.52% above the market average85.52% above the market average85.52% above the market average
87.65% above the sector average87.65% above the sector average87.65% above the sector average87.65% above the sector average87.65% above the sector average
Income
73.74% below the market average73.74% below the market average73.74% below the market average73.74% below the market average73.74% below the market average
7.69% below the sector average7.69% below the sector average7.69% below the sector average7.69% below the sector average7.69% below the sector average
Growth
8.24% below the market average8.24% below the market average8.24% below the market average8.24% below the market average8.24% below the market average
36% below the sector average36% below the sector average36% below the sector average36% below the sector average36% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

QTX Dividends

  Latest Previous
  Interim Final
Ex-Div 28-Aug-25 03-Apr-25
Paid 30-Sep-25 30-Apr-25
Amount 2.50p 3.00p

Trades for 29-Aug-2025

Time Volume / Share Price
16:18 1,594 @ 280.00p
16:16 250 @ 286.00p
16:14 1,104 @ 280.00p
16:10 250 @ 286.00p
15:01 4,738 @ 285.90p

QTX Key Personnel

CFO Emily Rees

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