Quartix Technologies Share Discussion Threads

[bamboo2] 15/10/2024 06:56

Financial results for the Period

The Board is confident of meeting market expectations for the year [1] for both profit and free cashflow. The Company's net cash balance at period-end (30 September 2024) was £2.3m, following payment of an Interim Dividend of 1.5p per share and the final contracted purchase payment to shareholders of Konetik Deutschland GmbH ("Konetik"); both of which were made during September. Liquidation of Konetik is now largely complete, and anticipated costs of closure were provided for in the Company's Interim Results. The anticipated divergence between free cashflow and EBITDA in 2024 is a result of the Company's committed programme of equipment upgrades in France and the investment in growth in the subscription base.

More than 40% of the Company's revenue is derived from the EU and USA, and continuing growth in the strength of the pound has therefore had a marginal impact on the Board's previous estimates of revenue for the year. This, as noted above, is not expected to affect profit or cash generation.

Andy Walters, Executive Chairman of Quartix, commented:

"The rate of growth in the Company's recurring revenues, customer base and new subscriptions over the period is very pleasing. I am immensely grateful to all my colleagues and the management team at Quartix who have so successfully refocused the company on its core business activity since my return to the Board a year ago, and we look forward to the future with confidence."

[1]Note: the Company believes that, prior to this announcement, market expectations for 2024 performance in terms of revenue, adjusted EBITDA and unadjusted free cashflow were £32.9m, £5.8m and £2.1m respectively.

[bamboo2] 15/10/2024 06:45

Market performance

UK

A continued emphasis on the Company's core business has driven a strong increase in customer acquisition and new subscriptions, leading to a 7% increase in the subscription base and 5% growth in ARR. Improvements were made in the management of each of our channels to market.

France

The subscription and customer bases grew by 21% and 12% respectively on a trailing 12-month basis. New subscriptions and customer acquisition were 4% and 2% ahead of the same period last year, respectively, and good progress is now being made through all channels.

USA

In the past few months we have started to rebuild our sales and support capacity for the USA, effectively reversing the organisational and strategic changes made during 2022 and 2023. Attrition also reduced and, in the past three months, the customer and subscription bases returned to modest growth. As a consequence, the Company achieved growth in ARR in the first 9 months of $0.1m versus a deficit of $0.2m last year. Enquiry levels are good and customer acquisition rates in the third quarter were more than double the rate for Q3 2023.

Italy, Spain and Germany

The company recorded strong growth on all key performance measures in each of these countries. New customer acquisition rates in Italy were particularly strong, as was growth in new installations in Germany. All three countries offer substantial opportunities for business development and we will make further investment in the remainder of the year and in 2025.

[bamboo2] 15/10/2024 06:44

Quartix Technologies plc, a leading supplier of subscription-based vehicle tracking systems, software and services, is pleased to provide the following trading statement, covering the nine months to 30 September 2024 (the "9m Period").

Recurring revenues, pricing and customer base

Renewed focus on the Company's core business continued to drive strong growth in its Annualised Recurring Revenue ("ARR"). ARR is the key forward-looking measure of growth and financial performance for the Company. The Company's ARR increased by £3.1m (+11%) in the 12 months from 1 October 2023 to 30 September 2024. ARR growth is measured on a constant currency basis, using the rates applicable at 30 September 2024.

During the 9m Period, the Company's ARR grew by £2.7m, an increase of more than 60% on ARR growth achieved for the equivalent period in 2023. (£1.7m)

Average revenue per unit ("ARPU") during the 9m Period decreased by 0.1% on a constant currency basis, representing a significant improvement in performance when compared to the same period in 2023, during which we experienced a decrease of 3.4%. The Company has now implemented an appropriate annual price indexation policy and process for future price revisions and will continue to focus on this key metric.

Attrition as at 30 September (on a trailing 12 months' basis) was 13.8%, showing a slight improvement on performance at the end of H1 (14.0%). Attrition in the 9m Period has reduced in most territories and it also remains an important area of focus.

The key metrics shown below include growth expressed as a % since 1 October 2023, with the exception of the figures given for new subscriptions and new customers, for which the growth shown is for the 9m Period (from 1 January 2024 to 30 September 2024) compared to the same period in 2023.

Renewed focus on customer acquisition drove a 29% increase in this measure in the third quarter compared to Q3 2023, and this improvement is expected to continue.

[bamboo2] 01/10/2024 11:33

Hi simon, thanks for the offer, no worries, I have just got it!

Initially reads well.

[simon gordon] 01/10/2024 09:41

Bamboo,

Ping me your email address on a private message and I'll ping it over!

[bamboo2] 01/10/2024 09:11

PS I am anticipating an update within a few days.

[Thursday, Friday and Tuesday 8/10 all look possible dates]

[bamboo2] 01/10/2024 09:11

Hi simon, thanks for the info.

I can find document on Researchtree and Zeus, but it's not letting me access, even though it says it's open research. Have you manged to access? If so, has it anything good to say about QTX? [Lol!]

[simon gordon] 01/10/2024 08:39

Hi Bamboo,

Just to let you know Zeus has a 46 page note out this morning judging SAAS and QTX.

"Telematics and fleet management: Microlise vs. Quartix Technologies"

[bamboo2] 13/9/2024 17:37

Hi Marty, just waiting for the countdown to resume.

Hard to believe there are so few holders on advfn, given the fact that Andy Waters has returned.

Update about three weeks away?

[martywidget] 13/9/2024 09:08

Wondered why my thread was quiet, lol

Blimey, all we need now is for 'Fingers xxd' to put a chart on their old chart page and to say this is going to the moon and you're blessed!

[bamboo2] 12/9/2024 15:56

Finished buying in today.
Fingers xx'd
Gla

[bamboo2] 22/8/2024 19:37

Late reported [17:15] buy of 14,777 at 8:03.59, over the offer, 185.39p

Maybe explains why on dummy trades earlier in the day I could sell 10k+, but the most available to buy on instant trades was 2.

[bamboo2] 19/8/2024 08:52

Interim Results Presentation video 29 July 2024

Andrew Walters, Executive Chairman

[bamboo2] 17/8/2024 13:21

Hi Apad, Indeed. Trendline convergence often marks a turning point in the share price
I am hoping Mondays close should exceed that of Friday evening's close, for confirmation.

===============

Flags and pennants are short term [typically 15 sessions or fewer]

These are often two stage affairs, with the flag or pennant consolidation zone marking the half-way point.
Bulkowski describes each half of this phenomenon as the half staff.

Fingers xx'd!

[apad] 17/8/2024 13:00

Some fairly large, recent trades don't seem to have disturbed your pattern?
apad

[bamboo2] 14/8/2024 21:55

This is a classic pennant pattern.
Let's hope it behaves.
Another possible turn shows somewhere around 19-22/8, depending on which data set is used to shape the daily candles.

[bamboo2] 12/8/2024 17:25

Another 35,000 shares bought, showing as a late trade.
No wonder it's difficult to get an online quote during trading hours.

[bamboo2] 11/8/2024 07:46

Quartix Holdings plc, a Mid Wales-based supplier of vehicle telematics services, has posted a "strong" financial performance in the first half of 2024.



[use link for full article]

In its interim results, the company reported a total revenue of £16.1m, up 10.1 per cent from £14.6m during the prior period.

Operating profit rose 12.4 per cent to £2.7m from £2.4m the previous year.

The business attributed the success to its refocus on its core business of vehicle telematics services after the return of its founding member Andy Walters as executive chairman.

It said this emphasis is aimed at maximising growth opportunities in the telematics market, alongside the operational efficiencies which accompany that.

An impressive 94 per cent of Quartix’s revenue is derived from recurring subscription services.

Andy Walters said: "We are thrilled with our strong financial and operational performance, which is a testament to our robust business model and unwavering commitment to customer service. The substantial recurring revenue from our subscription services provides a solid foundation for sustained growth.!

Quartix, which is based in Newtown, has delivered real-time vehicle tracking and telematics services to mobile fleets based in Europe and the USA for more than 23 years. It has 29,000 clients and 283,000 vehicles under subscription.

[apad] 07/8/2024 14:59

Scott and Hill have both been complimentary about the latest from QTX.
It is interesting to me that bamboo2's graphic analysis and my fundamentals agreed so well.
The rns wasn't news. It had already been flagged, but the rns was necessary to confirm it before the market could react.
It was a superbly managed company before the founder stepped down. 😊
apad

[bamboo2] 07/8/2024 07:36

Post from elsewhere

Hi Apad, re QTX

A good result. What's interesting for me is that the breakout was spot on 65% of the length of the descending triangulation. This is the upper end of the 63-65% range calculated by Bulkowski. His averages are calculated from at least 1,300 similar chart patterns.

The 140 support has held.
The gap down from 6/10/2023 still requires a small increase in the share price [from eod close 193 to 200] for a complete fill.
The eod close above 186 confirms a double bottom with a target price of 220.

Anticipate imminent gap fill.
There may be a test of the db breakout.

[bamboo2] 07/8/2024 07:34

Chart from 28/7/2024

[bamboo2] 07/8/2024 07:33

copy of header

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GPS Vehicle Tracking. Fleet Management Software. Commercial Dashcams.