FRC Review, Accounting Policy & Notice of Results
Quartix Technologies plc has confirmed that the Financial Reporting Council has concluded its review, agreeing that tracking systems should be classified as property, plant and equipment, leading to a change in accounting policy and a prior period adjustment. This revised policy is expected to result in a moderate increase in reported profit for the year ended 31 December 2025, which was previously anticipated to be ahead of market expectations of £7.4m profit before tax. Consequently, the release of the Group's financial results for the period has been rescheduled to the end of March.
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Further to the Trading Statement ("the Statement") issued on 8 January 2026, Quartix confirms that the Financial Reporting Council ("FRC") has concluded its review of the Company's accounting treatment for tracking systems and associated costs.
Subject to the FRC's review of draft disclosures, the FRC and Quartix have agreed that the Company's tracking systems should be classified as property, plant and equipment ("PPE") under IAS 16. This will result in a change in accounting policy and a prior period adjustment relating to the provision for replacement units in France and the USA. As noted in the Statement, under the previous accounting policy, profit for the year ended 31 December 2025 ("the Period") would have been ahead of market expectations*. We can now confirm that the revised accounting policy is expected to result in a moderate increase in reported profit.
Given the additional work required to finalise these adjustments and related disclosures, the Company's financial results for the Period are expected to be released by the end of March.
*Note: market expectations for the Company's results for the period, prior to this announcement, are understood to be: Revenue: £36.4m, Profit before Tax: £7.4m and FCF: £5.1m"
| For further information, please contact: Quartix ( www.quartix.com/en-gb ) Andy Walters, Executive Chairman Sally Morton, Company Secretary and Finance Director | 01686 806 663 |
| Cavendish Capital Markets Limited (Nominated Adviser and Broker) Matt Goode / Seamus Fricker (Corporate Finance) Sunila de Silva (Corporate Broking) | 020 7220 0500 |
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