Quartix Tech Regulatory News (QTX)

Quartix Technologies plc

("Quartix", "the Group" or "the Company")

AGM Trading Statement

Quartix Technologies plc, one of Europe's leading suppliers of vehicle telematics services and driver analytics, issues the following trading statement ahead of its Annual General Meeting later today.

The progress in new subscriptions recorded in 2022 has continued in to 2023. New unit installations in the first two months increased by 9% in total compared with the same period last year. Growth in new subscriptions continued to be led by the French team.

Trading for the first two months of 2023 has been consistent with meeting market expectations for the year. [1] 

Richard Lilwall, Chief Executive Officer of Quartix Technologies plc, commented: "The results for the first two months of 2023 have been encouraging, with the increase in new subscriptions reflecting the investments in sales and marketing initiatives made in 2022, and which are planned to be continued this year. Customer interest in our EVolve electrical vehicle analytics, and our newly launched Quartix Check condition measurement tool is positive."

[1] The Board believes that consensus market expectations for 2023, prior to this announcement, were as follows: Revenue £30.8m, Adjusted EBITDA £6.2m, and Free Cash Flow of £4.3m

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