Checkit says completes reset as reaches break-even in 'pivotal' year
Checkit PLC said it recorded a cash-generative second half of the financial year, reaching break-even for the full year, ahead of expectations.
The Cambridge-based workflow management software provider said it achieved breakeven adjusted earnings before interest, tax, depreciation and amortisation for the year to January 31, swinging from a loss of £2.3 million. For the second half alone, its adjusted Ebitda was £500,000.
It achieved £4.0 million in annualised cost savings, Checkit said.
Revenue declined around 2% to £13.7 million from £14.1 million. Recurring revenue accounted for 96% of that figure, up from 94% in the year prior.
Chief Executive Officer Kit Kyte said: ‘Financial year 2026 was a pivotal year for Checkit. We completed a structural reset of the business, delivered adjusted Ebitda break-even ahead of market expectations and generated cash in the second half. Importantly, we have strengthened the quality of our recurring revenue base through long-term renewals and disciplined commercial decision-making. With a lower cost base and a strong pipeline, we enter financial year 2027 positioned to pursue growth.’
The company will report its final results on April 21.
Checkit shares closed up 4.4% to 18.00 pence each on Thursday in London.
Copyright 2026 Alliance News Ltd. All Rights Reserved.