Refile: UK's Quartix Technologies H1 revenue rises on subscription base, price increases

Quartix Technologies

27/07/2026 07:31

Corrects to remove signoff and contact info, no changes to text
July 27 (Reuters) - 
Overview
UK vehicle tracking supplier's H1 revenue rose 12% on subscription base and price increases
Adjusted EBIT and pretax profit for H1 both increased 21% yr/yr
Diluted EPS fell due to higher tax charge, including prior-year adjustment

Outlook
Company expects to meet 2026 market expectations for revenue, Adjusted EBIT and free cash flow
Market expectations for 2026: revenue £40.3m, Adjusted EBIT £10.1m, free cash flow £4.9m
Quartix plans investment to launch dashcam offering in Continental Europe in H1 2027

Result Drivers
SUBSCRIPTION BASE AND PRICING - Revenue growth driven by 7% expansion of subscription base and 3% average price rise, including camera upsells
HARDWARE COST REDUCTIONS - Gross margin benefited from lower hardware costs after transition to new tracking system
SALES AND MARKETING SPEND - Increased investment in sales and marketing, with spending adjusted after review of indirect channel returns
     
     
     

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 EBITDA
 
GBP 7.20 mln
 
H1 EBIT
 
GBP 4.85 mln
 
H1 Pretax Profit
 
GBP 4.85 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the phones & handheld devices peer group is "buy"
Wall Street's median 12-month price target for Quartix Technologies PLC is GBp350.00, about 38.3% above its July 24 closing price of GBp253.00
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 14 three months ago

Reuters Recommended Reads
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July 24 - UK's Team Internet H1 revenue falls 32%, EBITDA drops 21%