Checkit (AIM:CKT) reported Adjusted EBITDA of £0.3m for the year ended 31 January, a £2.6m improvement on FY25’s £2.3m loss, driven by a structural cost reduction programme and second‑half cash generation.
Annual Recurring Revenue was £14.3m (down 1% year‑on‑year, up 2% at constant currency). Total revenue fell to £13.7m (‑2%) as non‑recurring activity reduced; recurring revenue stood at £13.2m, or 96% of the mix. The company finished the year with net cash of £3m.
Management completed £4m of annualised savings, cutting headcount from 165 to 117 and lowering the Group’s breakeven ARR threshold. Non‑recurring and special items totalled £1.1m, principally restructuring and transaction costs.
On 26 March the board opened a Formal Sale Process, saying private ownership could better realise platform scale, cost normalisation and strategic revenue synergies. Management also plans to retire a legacy product in FY27 to unify the platform and roll workflow management to 100% of customers, bringing medical customers (around 60% of the base) onto the core suite.
"FY26 was a pivotal year for Checkit (AIM:CKT). We completed a structural reset of the business, delivered Adjusted EBITDA profitability ahead of our plan and generated cash in the second half. Importantly, we have strengthened the quality, visibility and durability of our recurring revenue base through long-term renewals and disciplined commercial execution, while continuing to build a scalable, hardware-enabled software platform," said Kit Kyte, Chief Executive Officer.
The audited annual report will be published ahead of the AGM on 22 May.
