Tantalus Systems (GRID) Corporate Presentation summary

Business overview and market opportunity

• Focuses on grid modernization, helping utilities harness data to improve distribution grids and reliability.

• Serves a community of ~330 utilities, with 3.95M connected devices deployed and 145+ employees.

• Grid modernization market in North America expected to reach $55.2B by 2032, with a 17% CAGR through 2030.

• 60% of the North American grid is past its life expectancy, driving urgent modernization needs.

• Utilities face challenges such as supply-demand imbalances, rising outages, and workforce retirements.

Technology platform and innovation

• Offers a hardware-enabled software platform with analytics, applications, grid data management, and communications.

• TRUSense Gateway™ enables advanced metering, power quality measurement, EV/DER integration, and broadband support.

• Platform supports interoperability, leverages existing infrastructure, and provides tailored customer support.

• Predictive analytics tools help utilities protect assets and improve grid reliability.

• Commercialization of TRUSense Gateway™ includes initial orders from 52 utilities and a large deployment contract.

Revenue model and financial performance

• Revenue generated from connected devices, software licenses, SaaS subscriptions, and professional services.

• Recurring revenue streams span 12–15 years, with annual recurring revenue reaching $13.5M and 18% CAGR.

• Q3 2025 TTM revenue was $51.8M with $3.5M Adjusted EBITDA; 35% of revenue from software & services.

• Q3 2025 revenue grew 22.5% year-over-year, with gross profit margin steady at 55%.

• Positive free cash flow and liquidity of $18.3M as of September 30, 2025, with no debt maturities until mid-2027.