9th Mar 2026 12:26
(Alliance News) - t42 IoT Tracking Solutions PLC on Monday said it foresees "minimal impact" from the ongoing turmoil in the Middle East, as it expects to post improved revenue and profit for 2025.
Shares in the tracking and monitoring technology company rose 25% to 2.25 pence around midday on Monday in London.
t42 said revenue for 2025 grew "significantly" to over USD6.1 million from USD4.2 million in 2024, with an around 10% increase in software-as-a-service revenue.
The company noted "strong trading" across all sections of the business.
t42 said gross margins improved to around 45% from 38%, as it noted the continued reduction of production costs and increased sales from higher margin products.
The firm expects to post an operating profit of around USD400,000, swinging from an operating loss of USD900,000.
It also sees positive earnings before interest, tax, depreciation and amortisation of approximately USD1.1 million, swinging from an Ebitda loss of USD200,000 a year prior.
"The company is seeing the benefits of establishing long-term relationships with customers globally. Given the global nature of the customer base and location of manufacturing facilities, the company foresees minimal impact from the current turmoil in the Middle East and remains confident that its pipeline and ability to service customers remain unaffected," said t42.
"The strong momentum generated during the period is expected to be reflected further during the current year. Increased levels of commercialisation are expected as the company further develops both existing and new client relationships," the company added.
t42 expects to publish its audited accounts in April.
By Christopher Ward, Alliance News reporter
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