Tantalus Systems (GRID) Planet MicroCap Showcase: Toronto 2026 summary

Demand and operating indicators

• Q2 book-to-bill remained within the 14-quarter range of 0.4x–2.5x; 8 utilities were in contracting at June 30, versus an average of 20 new utility conversions annually.

• Sales cycles can exceed 18 months, and contract approvals may shift conversions across quarters; revenue growth was cited at 20%+.

• 90% of revenue in the trailing 12 months through June 30 came from existing customers; retention was 99% over 15+ years.

TRUSense Gateway adoption and use

• By Q2, 77 utilities were ordering or starting deployment, above internal expectations; 37 completed pilots and committed to proceed, with 3 awaiting funding.

• The main use case is collecting data alongside metering infrastructure; the Gateway installs in a meter socket without pole installation or bucket trucks.

• Every utility selecting the technology since its commercial launch has used it in a broader metering upgrade; retrofit installation can extend existing meter infrastructure.

• Existing utilities are upgrading older communications networks with the Gateway; deployments can expand from metering to power quality and additional use cases.

Utility lifecycle and grid applications

• The proposed progression is metering upgrades, power-quality data and analytics, then behind-the-meter control of appliances, batteries and other loads.

• In Bolivar, data showed 3.2 million outage minutes through the first nine months of 2026, or six hours per meter, plus over 1,000 momentary outages per meter.

• A Gateway can collect data from up to 250 meters; a simple planning assumption was one device per 150 homes, with at least 9 devices per feeder for power-quality visibility.

• Over time, deployment could extend to one device per pole-mounted transformer and a 1:5–7 device-to-home ratio for behind-the-meter control, subject to utility ROI and CapEx.