13th Jan 2025 11:52
(Alliance News) - Quartix Technologies PLC on Monday said new customer acquisition rose alongside revenue and earnings.
The Cambridge, England-based supplier of subscription-based vehicle tracking systems, software and services said it expects to report revenue of GBP32.4 million for 2024, up 8.4% from GBP29.9 million in 2023.
Adjusted pretax profit is anticipated to be GBP6.0 million, up from an adjusted pretax profit of GBP5.1 million Quartix had reported for 2023.
Adjusted earnings before interest, tax, depreciation and amortisation are expected to have risen 15% to GBP6.2 million from GBP5.4 million.
Pertinently, new customer acquisition in 2024 jumped 19% to 6,863, while new subscriptions rose by 16% to 74,673. The total subscription base rose by 13% to 300,168.
Looking ahead, the company said: "The board believes that there is significant scope for continued growth in its existing 6 markets and this will remain the focus for 2025 and 2026."
Further, Quartix added: "The company finished 2024 on a strong note and the board now believes that this will lead to a slightly higher level of profit in 2025 than previously estimated."
The company said that the previous estimate for 2025 were adjusted Ebitda of GBP6.4 million and adjusted pretax profit of GBP6.1 million.
Quartix shares rose 9.0% to 165.70 pence each on late Monday morning in London.
By Tom Budszus, Alliance News slot editor
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