Tantalus Systems (GRID) Corporate presentation summary

Positioning and market

• 340+ utility customers, 4M+ connected devices deployed, 20+ channel partners and 145+ employees; TTM revenue $59.6M and Adjusted EBITDA $4.0M.

• Utility demand pressures include electrification, data-center growth, renewables, outage risk and workforce retirements; U.S. power outages cost $150B annually and outages rose 15% over the last decade.

• Core focus is U.S. public power and electric cooperatives, representing ~46M meters and ~86M people; growth opportunities include investor-owned utilities and Canadian local distribution companies.

• North American grid modernization market projected at $55.2B by 2032, with grid data management at $12.0B by 2030; market growth forecast at 17% CAGR through 2030.

Platform and product momentum

• TGMP combines connected devices, industrial IoT communications, grid data management, applications and analytics; TRUSync integrates across devices, systems and vendors.

• TRUSense Gateway supports AMI 2.0, power-quality measurement, behind-the-meter EV/DER integration and broadband; it retrofits existing ANSI meter sockets and works with existing ANSI meters.

• TRUSense Gateway orders from 77 utilities represent $250M+ revenue potential; ~50% entered deployment and roughly 66% of those utilities were existing customers.

• TRUSense Gateway’s initial utility pipeline was ~$500M before commercialization; 77 initial utilities generated $250M+ opportunity and ~22,000 units in backlog.

• TRUGrid analytics use grid-edge data for transformer risk detection and proactive asset protection; TRUFlex supports load and DER management, while platform data can integrate with SCADA, ADMS, DERMS and OMS.

Recurring model and growth

• Revenue model spans connected-device deployments, expansion and sustainment, then hardware upgrades; software and services include licenses, deployment support, maintenance and analytics subscriptions.

• Each deployed device can generate 12–15+ years of software and services revenue; ARR reached $15.0M in Q2 2026, growing at ~19% CAGR since 2016.

• Existing customers account for ~85% of annual revenue; ~20 new accounts are added annually, with 0.75M–1M connected devices still to be deployed within the existing customer base.

• Growth levers include customer expansion, analytics and application adoption, gateway commercialization, geographic expansion and new utility segments.