Earnings release
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RNS Trading Statement TRADING STATEMENT QUARTIX TECHNOLOGIES PLC Released 07:00:02 07 April 2025 RNS Number : 7892D Quartix Technologies PLC 07 April 2025 Quartix Technologies plc ("Quartix", "the Group" or "the Company") Trading Statement Quartix Technologies plc, a leading supplier of subscription-based vehicle tracking systems, software and servi following trading statement, covering the first three months of 2025 ("Q1"). The Group has made a very good start to the year, with new subscriptions, customer acquisition and growth progress. Quartix is confident of achieving market expectations for the year1 and continues to make im performance. With the exception of the inflationary pay rise given to staff effective 1 January 2025, overhead l those for H2 2024. Free cashflow for Q1 is expected to have been £1.3m, and this has increased net cash to £4.4 Additionally, the Company announces that its registered office will be changing on 17 April 2025 to One Ca CB4 0AE. Annualised Recurring Revenue ("ARR") ARR is the key forward-looking measure of growth for the Company and an important indicator of shareholde Company relates solely to committed software subscription revenues and does not include other service revenue The Company's ARR increased by £2.0m during Q1 to £34.2m, representing an increase of 21% over the ARR period in 2024. Of this growth, just over £0.9m was derived from new business. On a trailing-twelve-month ("T by £3.8m, or 13%. 2025-04-07 09:59 Trading Statement - 07:00:02 07 Apr 2025 - QTX News article | London Stock Exchange https://www.londonstockexchange.com/news-article/QTX/trading-statement/16976461 1/3
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Price indexation has now been incorporated in virtually all customer contracts and is added to ARR at the point each anniversary for each customer. Approximately 75% of the total impact of this indexation for 2025 occurred Net revenue retention ("NRR") on a TTM basis increased slightly to 96.3% in Q1. Further improvement in this Measures of ARR and ARR growth are calculated on a constant-currency basis2. Customer acquisition New customer acquisition in Q1 increased by 18% to 2,206 new customers and new subscriptions increased by are quoted in comparison with the same three-month period in 2024. On a TTM basis, the customer base increased by 10% to 31,040, and the total subscription base increased by 12 The key metrics for the Group are shown below: Country ARR (£m) % Growth (TTM) Subscription Base (units) % Growth (TTM) Customer Base % Growth (TTM) New Subscriptions (units) % Growth (Q1) UK/EI 18.78 +9% 161,241 +8% 11,837 +4% 8,868 +24% France 8.87 +14% 84,283 +16% 9,439 +9% 7,139 +14% USA 3.32 +7% 29,469 +1% 3,915 +2% 2,066 +41% Italy 1.47 +53% 15,787 +43% 2,507 +42% 1,944 +16% Spain 1.00 +40% 12,279 +39% 2,232 +32% 1,305 +19% Germany 0.72 +63% 7,097 +42% 1,031 +35% 762 -17% Other 0.03 545 79 18 Total 34.19 +13% 310,701 +12% 31,040 +10% 22,102 +19% Tariffs Quartix trades in the USA from an incorporated local subsidiary, Quartix Inc., which imports tracking system from Quartix Ltd in the UK. This hardware supply represents a small element of the Company's business, so t modest at this stage, but further detailed review of this is underway. 4G upgrade Progress on the 4G upgrade programme in France is progressing according to plan. A more detailed update will MelloMonday Quartix will, this evening (7th April) be attending MelloMonday, which is to be held as a webinar starting at Zoom. Andy Walters, Executive Chairman, will be presenting to webinar participants at 6:30pm and taki register here for a free ticket with the code SHFREE. The recording will be sent out to all registrants within 48 h Andy Walters, Executive Chairman of Quartix, commented: "We have made a very strong start to 2025 and progress in each of our markets has been good. Annualised s 13% to £34m in the 12 months from April 2024 and both our order backlog and rate of new customer acquisit those at this point last year. We are achieving record levels of performance on most business measures. Notw impact of a potential trade war, we are confident of meeting market expectations for 2025 and look forward t future with confidence ." Notes: 1 The Company believes that market expectations for 2025 were, prior to this announcement, reve EBITDA £7.2m and free cashflow of £3.5m. 2 Comparisons made on the basis of constant-currency measurements are based on closing exchan 31/3/2025 of $1.292 and €1.194 to pounds sterling. For further Information please contact: Quartix (www.quartix.com) Andrew Walters, Executive Chairman 01686 806 663 2025-04-07 09:59 Trading Statement - 07:00:02 07 Apr 2025 - QTX News article | London Stock Exchange https://www.londonstockexchange.com/news-article/QTX/trading-statement/16976461 2/3
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Sally Morton, Company Secretary Cavendish Capital Markets Limited (Nominated Adviser and Broker) Matt Goode / Seamus Fricker / Trisyia Jamaludin (Corporate Finance) Sunila de Silva (Equity Capital Markets) 020 7200 0500 This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END TSTFZGGDKDMGKZM London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply. © 2025 London Stock Exchange plc. All rights reserved. 2025-04-07 09:59 Trading Statement - 07:00:02 07 Apr 2025 - QTX News article | London Stock Exchange https://www.londonstockexchange.com/news-article/QTX/trading-statement/16976461 3/3