Earnings release
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Quartix Technologies plc ("Quartix", "the Group" or "the Company") Trading Statement Quartix Technologies plc, a leading supplier of subscription-based vehicle tracking software andservices, is pleased to provide the following trading statement covering the 9 months to 30 September2026 ("the Period") and specifically for progress made in the third quarter ("Q3") of its trading year.Some metrics in this statement are quoted on a trailing twelve-month ("TTM") basis for comparisonpurposes. Estimated Financial Results for the Period Management is pleased to report a continuing strong financial performance. Full-year revenue is expected to be in line with current market expectations. Adjusted profit before taxfor the full year is expected to be modestly ahead of current market expectations, reflecting the costsavings identified at the time of the interim results. Re-investment of these savings (£0.2m) has beendeferred into 2027. Following dividend payments totalling £4.9m during the Period, the Group held cash of £5.3m at 30September 2026 and no debt. Management estimates free cash flow for the Period of approximately£4.7m, which reflects tax payments of £2.3m during the Period, including £1.1m paid to HMRCfollowing the change in accounting policy described in the 2025 Annual Report. Annualised Recurring Revenue ("ARR") Annualised recurring revenue (“ARR”) is the Group’s principal forward-looking measure of growthand a key indicator of the value of its subscription base. ARR comprises committed softwaresubscription revenues only and excludes other service revenues, including revenues that may recur. ARR increased by £3.0m during the Period to £39.7m. On a TTM basis, ARR increased by £3.9m, or11% (30 September 2025: £35.8m). ARR growth in Q3 was particularly encouraging, with £0.9m of ARR added during the three monthsended 30 September 2026. Net revenue retention (“NRR”) on a TTM basis remains flat at 97.3%. Improving NRR remains apriority across all territories. Measures of ARR and ARR growth are calculated and expressed on a constant-currency basis2. Customer acquisition On a TTM basis, the customer base grew by 6% to 33,873 and the total subscription base increased by7% to 347,702, continuing to demonstrate the resilience and quality of the Group’s recurring revenuemodel. The Board continues to focus on improving new customer acquisition, while maintaining a disciplinedapproach to investment in sales and marketing, a sustainable cost base and the long-term quality ofrecurring revenue. The key metrics for the Group are shown below (figures shown are for the Period or at 30 September,except where noted as “TTM”): Country ARR(£m) TTM% SubscriptionBase (vehicles) TTM% CustomerBase TTM % NewSubscriptions(Vehicles) NewCustomers Acquired UK/EI 20.9 9% 169,274 2% 12,101 2% 18,454 1,252 France 10.7 13% 98,935 10% 10,188 5% 17,234 1,601 USA 3.3 0% 28,548 (4%) 3,821 (3%) 4,272 533 Italy 2.3 31% 24,270 31% 3,654 26% 6,187 811 Spain 1.5 26% 17,166 22% 2,786 13% 3,916 587 Germany 1.0 22% 9,091 16% 1,265 12% 2,191 282 Other - - 418 25% 58 (3%) 109 6 Total 39.7 11% 347,702 7% 33,873 6% 52,363 5,076 Outlook Andy Walters, Executive Chairman of Quartix, commented: "We have made good progress in the first nine months of 2026, with annualised recurring revenueincreasing by £3.9m, or 11%, over the past twelve months to £39.7m. This sustained double-digitgrowth, when combined with very strong cash generation, is particularly encouraging. Our new videotelematics product is gaining traction in the UK and we are now preparing for our launch inContinental Europe. The performance demonstrates the resilience of the Group’s subscription modeland the continued growth in the value of its installed customer base. The Board remains confident inmeeting market expectations for the full year.” Notes: 1 The Company believes that market expectations for 2026 were, prior to this announcement, revenue £40.3m, adjusted EBIT £10.1m and free cashflow of £4.9m. 2 Comparisons made on the basis of constant-currency measurements are based on closingexchange rates applicable at 30/09/2026 of $1.3286 and €1.17 to pounds sterling. Appointment of external auditor Following an audit tender process led by the Audit Committee, the Board has approved theappointment of BDO LLP (“BDO”) as the Group’s external auditor for the financial year ending 31December 2026. Following the conclusion of that process, PKF Littlejohn LLP (“PKF”), which has acted as statutoryauditor to Quartix Limited and the Group for the past five years, has resigned as auditor and has
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provided a statement to the Company confirming that there are no circumstances connected with thechange of auditor that need to be brought to the attention of the members or creditors of the Companypursuant to section 519 of the UK Companies Act 2006. BDO has been appointed with immediateeffect to fill the resulting vacancy and will undertake the audit of the Group’s financial statements forthe year ending 31 December 2026. The Board would like to thank PKF for its service and support to the Group during its tenure. For further Information please contact: Quartix (www.quartix.com) Andrew Walters, Executive Chairman Sally Morton, Finance Director & Company Secretary 01686 806 663 Cavendish Capital Markets Limited (Nominated Adviserand Broker) Matt Goode / Seamus Fricker / Trisyia Jamaludin (CorporateFinance) Sunila de Silva (Equity Capital Markets) 020 7200 0500
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