Edison Investment Research - Checkit (CKT) Checkit - FY22 ARR growth of 44%

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Edison Investment Research

Richard Williamson

Checkit - FY22 ARR growth of 44%

Checkit’s FY22 trading update confirmed it closed the year broadly in line with our revenue forecasts and, due to several contracts signed close to year end, beat our annualised recurring revenue (ARR) forecast with 44% y-o-y growth to £8.2m, versus our £7.6m forecast. We maintain our estimates for FY22 and FY23, noting the higher level of ARR at year-end supports our FY23 revenue growth forecast.

17/02/2022 1 EN

Underlying

Checkit

Elektron Technology is a global business that designs, manufactures and markets products that connect, monitor and control. Co. has three business segments: Bulgin, which products are sealed connectors for the demanding environments, and custom product and system development; Instrumentation, Monitoring and Control, which key products are ophthalmic instruments, nanopositioning and sensing equipment, and materials testing equipment; and Checkit, which key products are cloud-based work management software based on interactive checklists, and smart wireless sensors for continuous automated monitoring.

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GB00B0C5RG72 London Stock Exchange United Kingdom

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Richard Williamson

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Checkit - FY22 ARR growth of 44%

Checkit - Signposting the path to profitability

Checkit - New product launch and contract wins

Checkit - FY24 revenue and ARR in line, EBITDA ahead

Basilea Pharmaceutica - Cresemba milestone payments continue to roll in

AAC Clyde Space - Solid start to the year with further order growth

Tinexta - Typical seasonality in Q124

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