Quartix Technologies (QTX) Trading Update summary

Trading performance and financials

• Strong start to 2025 with growth in new subscriptions, customer acquisition, and free cash flow of £1.3m, raising net cash to £4.4m.

• Confident in meeting market expectations for 2025, with prior consensus at EBITDA £7.2m and free cash flow £3.5m.

• Overhead costs stable except for inflationary pay rise effective 1 January 2025.

Recurring revenue and retention

• Annualised recurring revenue (ARR) rose by £2.0m in Q1 to £34.2m, up 21% year-on-year.

• Trailing twelve-month ARR increased by £3.8m, or 13%.

• Net revenue retention improved to 96.3% in Q1.

• Price indexation now included in nearly all contracts, with 75% of 2025 impact realized in Q1.

Customer and subscription growth

• New customer acquisition up 18% to 2,206 in Q1; new subscriptions up 19%.

• Customer base grew 10% to 31,040; total subscription base up 12% to 310,701 units (TTM).

• Notable ARR and subscription growth in Italy (+53% ARR), Spain (+40%), and Germany (+63%).