with deep insight into the sectors we support.
Agile. Pioneering.
$87.1M
Revenue in 2021152.10
As of 04 Jul 2022 at 15:02 GMTQuixant plc (QXT) is a fast-growing, global technology business.
We are world-leading technology outsource partners delivering highly-specialised products focussed on the needs of specific global industries.
We combine hardware, software, haptic and mechanical engineering expertise with detailed industry knowledge – making us the ubiquitous and natural partner for successful businesses in the markets in which we operate.
Our company is built on two brands driven by one vision – to deliver the best and most innovative customer solution in every market we operate in.
Our Quixant brand designs, develops and engineers gaming computers and software solutions for the wager-based gaming and sports betting industries.
Our Densitron brand is a specialist in engineering solutions to optimise Human Machine Interaction (HMI), supporting a range of sectors including Broadcast, Medical and Industrial applications. Densitron provides best-in-class control systems, control surfaces and custom displays to enhance interaction with equipment used in these industries.
News from the boardroom
“We are seeing increasing demand for our specialist technology outsource solutions following the recovery in our end markets. This has led to a strong improvement in trading in 2021, with revenues reaching pre-pandemic levels in the second half of the year. Demand in the first quarter of 2022 has remained strong, with order intake ahead of current year revenues and prior year order book.
As with all technology businesses, supply chain issues have been a challenge and have impacted margins, however we have demonstrated resilience in 2021 through close customer and supplier management and deployment of our cash to enable strategic stock purchases. While we expect these challenges to persist, our financial strength and global supply network positions us well to manage these through 2022. There are no structural reasons why our margins will be compromised in the long-term.
Our strategic positioning, strength of order book and proven operational effectiveness position us well for sustained growth in 2022 and beyond.”
Jon Jayal Chief Executive Officer
Investment Case
QXT is a business with multiple revenue growth opportunities, both organic and through acquisitive means. We have built a successful business focussed on delivering technically innovative products targeted at specific vertical markets.
Our engineering competence, innovative thinking and commerciality is proven to deliver healthy growth in the gaming industry. The highly-regulated nature, the size of the market and strength of our reputation provide continued strong growth in the gaming sector – and a solid platform for future success in the sports betting arena.
We know that our ability to generate vertical market focussed technology has wider applications in other new markets. Through Densitron we can and are identifying new focus verticals that can augment our growth beyond gaming. The broadcast market is one such market. Today the opportunity is in its infancy but is already starting to gain momentum.
Our business model is supported by the following key components:
- Experienced management team
- Vertically integrated business model
- Taiwanese-led manufacturing base
- Expertise in product development, manufacturing and distribution
- Experience in acquiring brands and reinvigorating brands to grow
- Significant long-term growth potential
Our expert teams are dedicated to developing and delivering sophisticated technology and high-performance products that enhance user experience and have a greater impact on commercial success.
Growth is targeted to arise from the following:
- Revenue growth from existing and new partners
- Revenue growth from developing innovative products
- Revenue growth from product acquisition
- Revenue growth from new markets
- Utilising operational leverage
- Profit growth through margin enhancement by sale of higher value products
We have invested in the operational capacity of the Group over the last four years, and now have increased operational leverage through which to exploit revenue growth.
Revenue growth of 5% to $115.2 million (2017: $109.2 million)
Core gaming platforms business posting 14% growth in revenue over the year to $62.5m (2017: $54.8m) relative to the previous year
Gross profit for the year $39.8 million representing a gross margin of 35%
Adjusted2 diluted EPS up 14% to $0.260/share (2017: $0.229/share)
Diluted EPS up 8% to $0.213/share (2017: $0.197/share)
Net cash from operating activities up 40% to $11.3m (2017: $8.1m)
Net cash at period end of $9.7m (2017: $4.5m)
Proposed full year dividend of 3.1p per share (2017: 2.6p), an increase of 19%
Increased market share in the core Gaming Division to 13%, supplying 61,000 platforms (2017: 11% and 52,000)*
Enhanced features added to the Gaming Ecosystem®, expanding Quixant’s routes to market
New products launched by Densitron to target the broadcast market
Enhanced Group structure to create more scalable operations
Significant long-term growth opportunities, including opening of the market in Japan
*Source: G3 Global Gaming Market report 2018 – 475,000 annual replacement cycle
Quixant plc announce the Group's 2021 full year results.
Jon Jayal, CEO and Johan Oliver, CFO of Quixant plc announce the Group’s 2021 full year results in an exclusive video interview.
