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Quartix Technologies plc (AIM: QTX) is delighted to announce its audited financial results for the year ended 31 December 2024.
Financial Highlights:
- Annual Recurring Revenue (ARR): Achieved a record growth of £3.5 million, marking a 12% increase, which is a 68% uplift compared to the growth in 2023.
- Net Revenue Retention (NRR): Improved to 95.7%, bolstered by the successful introduction of price indexation strategies.
Operational Highlights:
- Customer Acquisition: Welcomed 6,863 new customers, a 19% increase from the previous year, underscoring the growing demand for Quartix’s solutions.
- Product Development: Successfully completed new product developments, including the new Quartix Mobile App, reinforcing Quartix’s commitment to delivering cutting-edge vehicle tracking solutions.
Andy Walters, Chairman of Quartix, commented: “Our 2024 performance showcases the strength of our business model and the dedication of our team. The significant growth in ARR and customer acquisition, alongside improved profitability, positions us well for continued success in the coming years.”
For a comprehensive analysis of Quartix’s 2024 financial performance, please refer to the full annual report available on our investors page.
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