Transense Technologies (TRT) H2 2024 earnings summary

Executive summary

• Achieved double-digit revenue growth and 20% increase in profit before tax for FY24 compared to FY23.

• Strong cash generation with net cash of £1.49m as of August 2024.

• Expanded headcount and invested in facilities, equipment, and IP to support future growth.

• All business units reported healthy pipelines and ongoing projects to strengthen supply chains and reduce costs.

Financial highlights

• Revenue rose 18% year-over-year to £4.18m; profit before tax up 20% to £1.31m (before exceptional admin costs).

• Earnings per share increased 15% to 10.13p; cash and equivalents up £0.32m to £1.28m.

• Cash conversion exceeded 100% of operating profit; distributable reserves up £1.24m to £3.44m.

• Cash balance further increased to £1.49m by 31 August 2024.

Outlook and guidance

• Revenues for the current financial year are over 60% ahead of the prior year, driven by Translogik and SAWsense.

• Focus remains on converting new business into revenue and building strategic value propositions.

• Confident in long-term growth as Bridgestone iTrack royalty matures.