Trading Update

t42 IoT Tracking Solutions plc("t42" or the "Company") 

Full-Year Trading Update and Notice of Final Results

Strong margin and revenue growth

Continued progression towards sustained profitability

T42 IoT Tracking Solutions plc (AIM: TRAC) ("t42" or the "Company"), a leading provider of global shipping container tracking solutions, announces a trading update for the year ended 31 December 2025 (the "Period").

Financial Highlights (unaudited)

Revenue for the Period increased significantly to over $6.1m (2024: $4.16m), including a c.10% increase in SaaS revenues, highlighting strong trading across all parts of the business. Gross margins grew to c.45% (2024: 38%), reflecting the continued reduction of production costs and increased sales from higher margin products, notably Lokies. The Company is pleased to report an operating profit for the period of c.$0.4m, a substantial improvement on the prior year (2024: operating loss of $0.9m), with the Company achieving positive EBITDA of c.$1.05m (2024: EBITDA loss of $0.2m), reflecting the Board's focus on progressing towards sustained profitability.

Operational Highlights

The Company's products and technology continue to attract interest worldwide, with particular emphasis on the range of Lokies secure padlocks. Furthermore, the Company's innovative technology and solutions continue to underpin growing demand from a range of geographies and end customers, providing increasing levels of visibility. Importantly the Company is well placed to benefit from growing levels of pipeline conversion, SaaS revenues and long-term orders, underpinning management's confidence in delivering significant shareholder value.

Outlook

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.

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.

Notice of Results

Audited accounts for the Period are expected to be published during April 2026, with the notice of Annual General Meeting expected shortly thereafter.

Contacts:

Notes to Editors

t42 IoT Tracking Solutions plc (AIM: TRAC), formerly Starcom Systems plc, provides real-time tracking, analysis, monitoring, and security IoT solutions for the global container and freight market and covers 55 countries, over 100 distributors, and 50 logistics and support partners.

t42's multi-sensor IoT tracking devices use a wide range of detection capabilities with cloud-based analytics and alerts, with real-time data transmission, analysis, and actionable insights. Its devices are used by ports, cargo owners, shipping companies, freight forwarders, insurance companies, customs authorities, homeland security, and police for end-to-end global container tracking and digital transformation of shipments.

For more information on the Company, please visit: www.t42.co.uk/.

The information contained within this announcement is deemed by the Company to constitute inside information pursuant to article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended.