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Tantalus Systems Holding (GRID) investor relations material

Tantalus Systems Holding Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary7 Aug, 2025

Executive summary

  • Revenue grew 22% year-over-year to $13.1M in Q2 2025, driven by higher sales to existing and new utility customers and TRUSense Gateway momentum.

  • Gross profit margin was 53%, above the 50% target, despite initial tariff impacts and product mix shifts.

  • Adjusted EBITDA turned positive at $510K, compared to negative $174K a year ago, reflecting operating leverage and successful product launches.

  • Net loss improved to $0.9M from $1.0M year-over-year; diluted loss per share remained at $0.02.

  • Added 25 new utilities over the past 12 months, with 45 utilities now trialing or deploying TRUSense Gateway.

Financial highlights

  • Q2 2025 revenue: $13.1M, up from $10.7M in Q2 2024; recurring revenue reached $3.2M, 25% of total.

  • Annual Recurring Revenue (ARR) hit $13.3M, up 11% year-over-year, with an 18% CAGR since 2016.

  • Gross profit margin for Software & Services segment was 75%; Connected Devices margin was 43%.

  • Trailing twelve-month revenue approached $49.2M, an all-time high; positive trailing twelve-month adjusted EBITDA of $2.8M.

  • Available liquidity at quarter-end was $19.7M, including $11.2M in cash and $8.5M in credit facility.

Outlook and guidance

  • Commercialization of TRUSense Gateway and AI-driven TRUGrid Analytics expected to drive further revenue and margin expansion.

  • Strong liquidity and no debt maturities until June 2027 support growth initiatives.

  • R&D spend expected to normalize as external costs for TRUSense Gateway development wind down.

  • Recurring revenue contribution continues to increase, supporting long-term financial stability.

  • Continued growth in user community and order pipeline anticipated, supported by new product deployments.

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Frequently asked questions

Tantalus Systems Holding Inc. specializes in developing and delivering smart grid solutions aimed at modernizing public power and electric cooperative utilities. The company focuses on leveraging data across all devices and systems throughout the entire distribution grid, from substations to behind-the-meter locations such as EV chargers. Tantalus Systems Holding Inc. is headquartered in Burnaby, British Columbia, and its shares are listed on the Toronto Stock Exchange.

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