Story
Quartix Technologies Reports 12% Revenue Growth, 21% Profit Jump in First Half
Summary
Vehicle tracking supplier Quartix Technologies announced a 12% year-over-year revenue increase for the first half of 2026, driven by subscriber growth and price hikes. The company also reported a 21% rise in adjusted profit and reaffirmed its full-year guidance.
Quartix Technologies, a UK-based supplier of vehicle tracking systems, reported a 12% increase in revenue for the first half of the year, driven by growth in its subscription base and higher average prices. The company also posted a significant rise in profitability and confirmed it is on track to meet full-year market expectations.
First-Half Performance
According to its latest financial release, Quartix saw both adjusted EBIT and pretax profit climb 21% year-over-year. The company's key results for the first half include:
- Adjusted EBIT: £4.85 million
- Pretax Profit: £4.85 million
- EBITDA: £7.20 million
Despite the strong profit growth, diluted earnings per share declined during the period. Quartix attributed this to a higher tax charge that included a prior-year adjustment.
Growth Drivers and Margins
AdThe top-line growth was supported by a 7% expansion in the company's subscription base and a 3% average price increase, which was partly driven by camera upsells. The company's gross margin improved, benefiting from lower hardware costs associated with its transition to a new tracking system.
Quartix also increased its investment in sales and marketing during the period. It noted that spending levels were adjusted following a review of returns from its indirect sales channels.
Outlook and Strategy
Looking ahead, Quartix stated it expects to meet market forecasts for the full 2026 fiscal year. These consensus expectations stand at £40.3 million for revenue, £10.1 million for adjusted EBIT, and £4.9 million for free cash flow.
The company also announced plans for future product expansion, with a dashcam offering scheduled to launch in Continental Europe in the first half of 2027.
Read next
More on Stocks
Citigroup Targets Over $3 Billion Banamex IPO for January, Bloomberg Reports
Citigroup is reportedly preparing for an initial public offering of its Mexican retail unit, Banamex, that could raise over $3 billion and is targeted for January. The move represents a major step in the bank's multi-year strategy to exit international consumer banking operations.
Bovespa Index Slips 0.27% as Basic Materials, Consumer Stocks Weigh
Brazil's benchmark Bovespa stock index ended Friday's session lower, weighed down by losses in the basic materials and consumption sectors. The decline occurred despite more individual stocks advancing than declining on the exchange.
Bipartisan Bill Seeks to Ban Chinese Optical Transceivers from US Government AI Systems
A group of U.S. lawmakers has introduced legislation to prohibit the federal government from using Chinese-made optical transceivers in sensitive systems, citing national security risks to AI and cloud infrastructure.
Circle CFO Jeremy Fox-Geen to Step Down; Co-Founder Exits Board
Circle Internet Group, the issuer of the USDC stablecoin, announced that Chief Financial Officer Jeremy Fox-Geen will step down. The leadership change also includes the departure of co-founder Sean Neville from the company's board.