The year-long upscale in terms of investment nudged the operating loss to £7.1m from £5.3m. The pipeline at year-end stood at £15.4m and cash has more than doubled to £24.3m from £11.5m after a £21m placing.

Kyte said: “Checkit has realised a strong set of financial results in FY22, delivering a second consecutive year of high-quality recurring revenue growth by continuing to focus on attracting new customers, while expanding our footprint and implementing price initiatives with existing customers.” The past year has also seen Checkit expand its US presence with the acquisition of Tutela Monitoring Systems LLC, which provides a US base in Florida.

Kyte was appointed in 2021 and has led this transformation, placing a new focus on the company’s go-to-market strategy and value-driven sales approach.

The results also underline to company’s transition towards a pure Software-as-a-Service (SaaS) business model. Kyte welcomed the results as a clear indication of growing demand for its end-to-end intelligent operations platform, which combines sensors, workflow management, powerful AI and data analytics to provide customers with a complete view of their people, assets, and buildings. ARR rose to £8.2 million from £5.8m in the prior year. Kit Kyte issued a ‘no retreat, no surrender’ message in promising shareholders that Cambridge-based Checkit intended to build on substantial customer gains and R & D successes logged in the year to January 31.Ĭheckit, which provides cloud-based services – providing intelligent operations management platforms for deskless workforces – posted a 43 per cent increase in annual recurring revenue in its latest set of unaudited preliminary results. The CEO of innovation intel enabler Checkit plc has vowed to further boost investment in technology advances and global growth after an encouraging set of results for the last financial year.

Checkit tutela