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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.
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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