**Summary**
Checkit PLC, an automated monitoring and operational intelligence platform, reported its final results for the year ended 31 January 2026 (FY26). Key highlights include
1. **Financial Performance**
Achieved Adjusted EBITDA profitability of £0.3 million, a significant improvement from a £2.3 million loss in FY25.
Annual Recurring Revenue (ARR) was £14.3 million, a 1% reduction but up 2% at constant currency. Underlying ARR growth was 5%, excluding a single large US customer reduction.
Net cash position of £3.0 million at year-end, reflecting a cash-generative second half.
2. **Operational Efficiency**
Completed a £4 million cost-saving program, reducing the cost base.
Maintained high-quality revenue, with recurring revenue representing 96% of total revenue.
Launched a redesigned user interface and improved user experience, leveraging AI for faster delivery and enhanced customer engagement.
3. **Strategic Developments**
The Board initiated a Formal Sale Process on 26 March 2026, seeking offers for the Group. This decision was driven by the belief that private ownership could unlock substantial profitable growth through cost normalization, operational leverage, and strategic synergies.
Planned strategic retirement of a legacy product in FY27 to unify the platform and launch a next-generation solution, doubling penetration potential and clearing the path for aggressive customer expansion.
4. **Outlook**
Focus on long-term scalabilityprofitabilityand strategic clarity.
Prioritize enterprise deployments, expand Asset Intelligence capabilities, and pursue selective inorganic opportunities.
Increased focus on the US market, the largest and most scalable addressable market, to drive enterprise engagement and account expansion.
Checkit’s FY26 results reflect a structural reset, improved financial discipline, and positioning for future growth, despite challenges in the broader technology landscape. The Formal Sale Process underscores the Board’s commitment to maximizing shareholder value.
| Financial Metric | FY25 (£m) | FY26 (£m) | Change (£m) | Change (%) |
|---|---|---|---|---|
| Revenue | 14.1 | 13.7 | -0.4 | -2% |
| Recurring Revenue | 13.1 | 13.2 | 0.1 | 1% |
| Adjusted EBITDA | (2.3) | 0.3 | 2.6 | 113% |
| Net Cash | 2.7 | 3.0 | 0.3 | 11% |
| Operating Costs | 14.5 | 11.6 | -2.9 | -20% |
| Non-recurring or Special Items | 0.5 | 1.1 | 0.6 | 120% |
| Cash and Cash Equivalents | 5.1 | 3.0 | -2.1 | -41% |