Edison Investment Research - Checkit (CKT) Checkit - SaaS software for the deskless workforce

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Edison Investment Research

Richard Williamson

Checkit - SaaS software for the deskless workforce

Checkit’s SaaS platform is designed to bring visibility to the operations of businesses with dispersed, deskless workforces. Checkit is focused on driving adoption of its software and over the last year has invested to support its shift to a pure SaaS business model. Net proceeds of £20m from the recent placing will be used to accelerate growth plans, with the US a particular focus. In our view, consistent growth in recurring revenues and an expanding customer base should help to reduce the valuation discount to software peers.

17/12/2021 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

Provider

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 - SaaS software for the deskless workforce

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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