Checkit
CKT · AIM · Technology · mcap £16m · 14.8p 4 open situations →
Open · 4
Cost reset and return to growth
Follows from Formal Sale Process – Terminated; no recommendable offer
The £4m cost reset made Checkit EBITDA profitable in FY26. H1 FY27 continuing adjusted EBITDA was £0.3m and recurring revenue grew 4%. After the sale process ended, the Board set a two-year framework targeting NRR of 105–110% and GRR above 95%, and is unifying Medical and Retail on one platform.
- Targets
- NRR 105–110% (now 102%); GRR above 95% (now 94%)
- Legacy retirement
- Removed £1.6m ARR and about £0.7m annualised cost
- Next milestone
- Core Medical functionality and migration design by end of October 2026
- Platform timetable
- Feature parity January 2027; customer testing from February 2027
- Cash
- £2.9m at 31 July 2026
Next: Core Medical functionality and migration design complete · 31 Oct 2026
- 28 Sep 2026 Standalone two-year value-creation framework
- 21 Apr 2026 £4m cost saving complete; EBITDA profitable
- 26 Mar 2026 Cost savings delivered; board now seeking a sale
- 19 Feb 2026 Cost savings delivered; shifting to growth investment
1 director buying
- 1 Oct 2026 Kit Kyte £100k
Formal Sale Process
Led to Cost reset and return to growth – Standalone two-year value-creation framework
Board launched the Formal Sale Process on 26 March 2026 after six unsolicited approaches. By 8 September it had several non-binding proposals above a 30p floor. With the H1 results it terminated the process, as no offer reached a value it could recommend. It now pursues a standalone plan.
- Price floor
- Board will not consider proposals below 30 pence per share
- Due diligence
- Some parties have done detailed due diligence, including engagement with management
- Board view
- Process gave external validation of technology and customer proposition
- Next milestone
- Interim results for six months to 31 July 2026 due by 30 September 2026
- Certainty
- No certainty of any offer or sale, nor of its terms
- Outcome
- FSP terminated; no offers at a value the Board could recommend
- 28 Sep 2026 Terminated; no recommendable offer
- 8 Sep 2026 Non-binding proposals received; 30p floor set
- 1 Jun 2026 Process running; second adviser appointed, no offer
- 22 May 2026 Credible interest received; discussions ongoing
Possible offer
- 8 Sep 2026 update
- 26 Mar 2026 sale process
Closed · 2
Company filings. Not investment advice.