Quartix Technologies PLC on Monday said new customer acquisition rose alongside revenue and earnings.

The Cambridge, England-based supplier of subscription-based vehicle tracking systems, software and services said it expects to report revenue of £32.4 million for 2024, up 8.4% from £29.9 million in 2023.

Adjusted pretax profit is anticipated to be £6.0 million, up from an adjusted pretax profit of £5.1 million Quartix had reported for 2023.

Adjusted earnings before interest, tax, depreciation and amortisation are expected to have risen 15% to £6.2 million from £5.4 million.

Pertinently, new customer acquisition in 2024 jumped 19% to 6,863, while new subscriptions rose by 16% to 74,673. The total subscription base rose by 13% to 300,168.

Looking ahead, the company said: ‘The board believes that there is significant scope for continued growth in its existing 6 markets and this will remain the focus for 2025 and 2026.’

Further, Quartix added: ‘The company finished 2024 on a strong note and the board now believes that this will lead to a slightly higher level of profit in 2025 than previously estimated.’

The company said that the previous estimate for 2025 were adjusted Ebitda of £6.4 million and adjusted pretax profit of £6.1 million.

Quartix shares rose 9.0% to 165.70 pence each on late Monday morning in London.

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