Checkit Plc Reports Strong Growth and Reduced Losses

Checkit Plc (GB:CKT) has released an update.

Checkit Plc has reported a robust performance for the fiscal year ending January 31, 2024, with a 16% rise in annual recurring revenue to £13.3m and a 17% increase in total revenue to £12.0m, outpacing market expectations despite economic challenges. The company reduced its adjusted losses by 46% to £3.4m and made significant strides towards profitability, expecting to reach breakeven by FY27. These results reflect Checkit’s strategic focus on subscription-based sales, improved gross margins, and reduced operating costs, positioning it for continued growth and technological advancement.

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