Quartix Holdings ( (GB:QTX) ) has issued an update.
Quartix Technologies plc reported strong financial results for the year ended December 31, 2024, with an 8% increase in group revenue to £32.4 million and a 25% rise in adjusted profit before tax to £6.3 million. The company achieved record growth in its annualized recurring revenue (ARR), which increased by 12% to £32.2 million, driven by a focus on profitable growth in its fleet subscription base. New customer acquisition rose by 19%, and the subscription base expanded by 13%, reflecting the company’s strategic focus on organic growth and market expansion across six territories. The launch of a new telematics platform is expected to further reduce manufacturing costs, supporting continued profitability and growth in 2025.
More about Quartix Holdings
Quartix Technologies plc is a leading supplier of subscription-based vehicle tracking systems, analytical software, and services. The company provides integrated tracking and telematics data analysis solutions for commercial vehicle fleets, aimed at improving productivity and reducing costs through comprehensive data capture, analysis, and reporting. Quartix is based in the UK and is listed on the AIM market of the London Stock Exchange.
YTD Price Performance: 0.64%
Average Trading Volume: 15,576
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: £75.98M
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