Quartix sees rise in profit, recurring revenue and customer numbers

Quartix Technologies PLC on Thursday said it expects strong interim results, underpinned by record growth in recurring revenue and robust customer acquisition in the first half of 2025.

The vehicle tracking software firm said revenue for the six months to June 30 rose 8.7% year-on-year to £17.5 million from £16.1 million, with pretax profit rising 30% to £3.5 million from £2.7 million.

Free cashflow is estimated at £2.6 million, up from £1.1 million a year before, while earnings before interest, tax, depreciation, and amortisation also rose to £3.6 million from £2.7 million.

The company ended the period with £4.1 million in cash and said it will declare an interim dividend of 2.5 pence, up from 1.5p.

Annualised recurring revenue increased by £4.1 million over the trailing twelve months to £35.0 million, marking a 13% rise. Net revenue retention improved to 97% from 96%.

Customer acquisition also strengthened, with 3,962 new clients added in the half, up 13% from the same period in 2024. New subscriptions climbed 7% to 40,698. Quartix’s total customer base stood at 31,588, while total subscriptions hit 318,947.

Executive Chair Andy Walters said: ‘Over the past 12 months our annualised subscription revenues have risen by a record £4.1 million. We finished the first half with a substantial order backlog for installation in July and August.’

By geography, France saw the largest ARR contribution after the UK, followed by the US and Italy. The company noted a strong performance in Italy and Spain, each delivering ARR growth of over 35%.

Quartix said it remains confident in meeting market expectations for the full year and expects to be slightly ahead on free cashflow. It also highlighted recent operational changes that reduced its overhead cost run-rate by £500,000 annually starting from July.

Interim results will be published on July 24.

Shares in Quartix were 4.2% higher at 250.00 pence each in London on Thursday morning.

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