Checkit ends sale process as continuing operations reach adjusted EBITDA profit
Checkit ($CKT) ended its formal sale process after receiving no offer its board could recommend, while reporting a return to adjusted EBITDA profitability in continuing operations. For the six months ended July, adjusted EBITDA improved to a £0.3 million profit from a £0.9 million loss. Revenue increased 3% to £6.3 million, with recurring sales contributing 97% of the total. Continuing annual recurring revenue reached £12.8 million, up 5% at constant currency. The retirement of a legacy product
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