Checkit reports first-half profit, ends formal sale process

London - Checkit plc announced a first-half profit and the termination of a formal sale process on Monday. The company reported adjusted EBITDA of £0.3m for the six months ending July 31, 2026, compared to a loss of £0.9m in the previous year period. Revenue increased to £6.3m, up 3% from £6.1m a year earlier. Recurring revenue grew 4% to £6.1m, representing 97% of total revenue.

Annual recurring revenue from continuing operations rose 5% to £12.8m from £12.3m. New bookings reached £0.7m, while customer churn decreased to £0.5m. The company retired a legacy product, removing £1.6m of ARR and approximately £0.7m of annualized costs, allowing it to focus on a single cloud-based platform. Cash generated from continuing operations was £0.3m, compared to a £2.3m outflow the previous year, and cash stood at £2.9m.

The medical sector accounted for 71% of revenues, with the board targeting net revenue retention of 105-110% and gross revenue retention above 95%. The company is working on unifying its medical and retail technology platforms, with a target completion date of October 2026 for next-generation medical monitoring.