The contract also illustrates the ongoing success of management’s ‘land and expand’ strategy, emphasised by the speed at which the number of BP forecourts have adopted its intelligent operations platform.
The pace of growth will depend on how many additional BT forecourts it can roll out its software to.
Due to the timing of the deal in its financial year, it should not have any material impact on FY22 revenues, but we believe it will make a material contribution to ARR from FY23 onwards. Management has not disclosed the value of the deal, but we understand that revenues generated should scale largely in line with the number of forecourts covered. This is particularly important as there is often more than one deficient nutrient which can lead to confusing symptoms or there may be a hidden deficiency where there is a loss of crop yield or quality without any visible symptoms.Note: *PBT and EPS are normalised, excluding amortisation of acquired intangibles, exceptional items and share-based payments.Ĭheckit’s record new deal with BP endorses the effectiveness of its intelligent operations management software among large global companies, which should continue to drive management’s aim of increasing subscription-based revenues’ share of total revenue. CheckIT lets you make an on-the-spot identification of a crop deficiency, and at the same time give advice and recommendations to correct the deficiency and so improve crop quality and increase yield.Īs a final confirmation of any nutrient deficiency we would always recommend conducting a laboratory analysis of leaf tissue. Once you have decided on the cause of the deficiency CheckIT gives the further information on how the deficiency affects that crop, what soil types are prone to this type of deficiency and what factors will make a deficiency worse.ĬheckIT also gives you a fertiliser recommendation to treat the identified deficiency, as well as alternative products which allow preventive treatment for the following growing season.ĬheckIT should work well in rural locations with low signal strength although if there is no signal product recommendations will be limited.
With CheckIT you can search through photos of nutrient deficiencies, filter them by symptoms, the location of the symptom on the crop, or by the suspected cause of the symptom and then use this to identify the probable deficiency. About CheckIT A simple way to identify nutrient deficiencies
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