Transense Technologies (TRT) Trading Update summary

Financial performance

• Total revenue rose 18% to £4.2m, with adjusted EBITDA up 21% to £1.7m, both slightly above expectations.

• Cash balances increased to £1.3m, with an additional £0.70m in iTrack royalties expected in July.

• Royalty income from iTrack grew 30% to £2.61m, with a 25% increase in installed units and a run rate of £2.9m by year-end.

• Share buyback programme continued, with £0.32m invested during the year.

Business segment updates

• Translogik revenue increased 9% to £1.12m, driven by new customer wins and expanded relationships with global tyre manufacturers.

• SAWsense revenue was £0.45m, slightly ahead of expectations, with new projects in aerospace and electric drive systems.

• Number of active customer programmes rose to 14, up from 9 last year, indicating growing commercial traction.

• Facility expansion completed, doubling manufacturing and development space to support growth.

Strategic and operational developments

• Key board and senior management appointments made to support scaling and strategic growth.

• Strategic initiatives launched to open new markets, including securing a fifth major global tyre manufacturer.

• New software integrations and customer-funded projects expected to drive future revenue.

• Ongoing investment in people, facilities, and supply chain to support high-volume production and long-term growth.