Quartix Technologies (AIM:QTX), a subscription-based vehicle tracking software and services provider, expects to report first-half revenue of £19.4m for the six months to 30 June, up 12% from a restated £17.3m in the same period a year earlier.
Estimated EBITDA rose to £6.9m from £6.2m, with adjusted EBIT of £4.6m against £4m previously, as the group's recurring revenue model continued to expand.
Free cashflow reached £2.6m, slightly ahead of £2.5m in the first half of 2025, though the figure absorbed a £1.1m corporation tax payment linked to a prior-year change in accounting policy on property, plant and equipment under IAS 16, with a further approximately £400,000 payment expected in July.
Annualised recurring revenue (ARR) grew 11% on a trailing twelve-month basis to 30 June, adding £3.8m, with £2.1m of that growth achieved in the period itself.
The customer base expanded 6% to 33,550 on the same trailing basis, though new customers acquired in the half fell 8% year-on-year to 3,632, and new subscriptions installed declined 11% to 36,226, with the company attributing the shortfall to timing rather than structural weakness, citing a good installation order backlog for the second half.
"We enter the second half of the year with a strong order book for installation and expect improved performance in H2," said Executive Chairman Andy Walters, adding that the board is confident of delivering full-year results in line with market expectations of revenue of £40.3m and adjusted EBIT of £10.1m.
Interim results are due on 27 July.
