Transense Technologies (TRT) H1 2026 TU earnings summary

Executive summary

• Revenue growth in both SAWsense and Translogik divisions, but below market expectations due to delays in customer onboarding and lower-than-expected royalty income from Bridgestone iTrack.

• Group revenue for FY26 expected to be not less than £5.2m, with approximately £2.0m from royalty income.

• Profitability for FY26 anticipated to be materially below current market expectations.

Financial highlights

• Composite revenue growth (excluding Bridgestone iTrack royalties) in the first half was 38% year-over-year.

• Royalty income from Bridgestone iTrack in H1 was 35% below prior year, due to a 40% reduction in unit rates and adverse FX impact.

• Available cash balance at 31 December 2025 was £1.33m; net cash after asset-backed financing was £0.92m.

Outlook and guidance

• Group revenue for FY26 projected at not less than £5.2m, with operating business revenues expected to grow at least 30%.

• Management remains confident in sustainable growth for both divisions despite current headwinds.