Tantalus Systems (GRID) Corporate presentation summary

Business and market opportunity

• Grid modernization platform serving 340+ utilities, with 4M+ connected devices deployed, 145+ employees, 20+ channel partners and ~35% of revenue from Software & Services.

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

• Rising electricity demand, outage exposure and workforce retirements are accelerating utilities’ grid modernization needs; 46% of U.S. utility engineers are approaching retirement within five years.

• North American grid modernization market expected to reach $55.2B by 2032, with 17% CAGR through 2030; grid data management market expected to reach $12.0B by 2030.

Platform and product traction

• TGMP combines connected devices, secure communications, grid data management, analytics and applications, including TRUConnect, TRUSync, TRUGrid and TRUFlex.

• TRUSense Gateway combines AMI 2.0, power-quality measurement, behind-the-meter DER integration and broadband support; initial orders from 77 utilities represent $250M+ of revenue potential.

• Gateway orders were received from 77 utilities; ~50% had moved into deployments, and roughly 66% were existing customers.

• TRUSense Gateway retrofits into existing ANSI residential meter sockets, supports existing ANSI meters and conforms to UL-2745 safety standards.

• Integrated data and control capabilities connect front- and behind-the-meter systems and support SCADA, ADMS, DERMS, OMS and customer engagement workflows.

Growth model and recurring revenue

• Revenue model spans deployment, expansion and hardware refresh; connected devices represent ~65% of total revenue and Software & Services ~35%.

• Each deployed device can generate 12–15+ years of Software & Services revenue; ARR was $15.0M at Q2 2026, with ~19% CAGR since 2016.

• Sales model adds ~20 utility accounts annually; the existing user community represents ~85% of annual revenue, with 0.75M–1M connected devices still to deploy in that base.

• ARR growth reflects customer expansion, analytics commercialization, service renewals and additional device deployments; recurring revenue includes subscriptions, software licenses, maintenance, support and hosting.