Quartix lifts recurring revenue 11% as continental Europe outpaces the UK
The vehicle tracking group expects full-year revenue to meet market expectations, but flat net revenue retention leaves its growth resting on winning new customers
- Customers: 33,873, up 6% over 12 months
- Vehicles on subscription: 347,702, up 7% over 12 months
- New vehicle subscriptions in the nine months: 52,363
- Free cash flow for the nine months: about £4.7m, by management’s estimate
Retention under 100% is a leak that every new sale has to refill before growth shows. Leaders quoting a headline ARR growth rate should report the split between expansion from existing customers and revenue from new logos, and fund customer success and upsell before adding sales headcount. The country mix carries a second warning: a group number can hide a home market that is maturing, so set targets and budgets market by market.
“Our new video telematics product is gaining traction in the UK and we are now preparing for our launch in Continental Europe.”Andy Walters, executive chairman, Quartix Technologies
Quartix Technologies, which sells vehicle tracking software to fleet operators on subscription, said on 5 October that its annualized recurring revenue (ARR) rose 11% in the 12 months to 30 September, to £39.7m.
The figures are unaudited and come from a trading statement. ARR grew by £3.0m over the first nine months of 2026, £0.9m of it in the third quarter. Quartix says adjusted profit before tax for the year should come in modestly ahead of market expectations, helped by cost savings whose £0.2m reinvestment has been pushed back to 2027. It held £5.3m in cash and no debt at the end of September, after paying £4.9m in dividends.
The UK and Ireland remain its largest market, with £20.9m of ARR, but grew 9%. France grew 13%, and the smaller Italian, Spanish and German businesses grew between 22% and 31%. US ARR was flat at £3.3m, with the US subscription base down 4%. France also won more new customers in the nine months than the UK and Ireland did, 1,601 against 1,252.
The weak spot is the existing base. Net revenue retention (NRR), which measures how much revenue current customers keep and add, held at 97.3%. The board says improving it is a priority in every territory and that it wants more new customers, while keeping spending on sales and marketing disciplined.
Sources
- Quartix Technologies, “Trading statement”, RNS announcement, 5 October 2026. https://www.investegate.co.uk/announcement/rns/quartix-technologies--qtx/trading-statement/9805269
