Transense Technologies (TRT) H1 2026 earnings summary

Executive summary

• SAWsense and Translogik divisions delivered 39% combined revenue growth year-over-year, with SAWsense up 74% and Translogik up 13%, despite a challenging environment from reduced iTrack royalty rates and FX headwinds.

• Total group revenue declined 8% due to a significant fall in iTrack royalties, though the company remained profitable and cash generative, maintaining a strong gross margin of 90%.

• Profit before tax was £0.01m, down from £0.55m in the prior year, with positive operating cash flow and disciplined execution.

• Strategic focus remains on building high-value, recurring revenue streams and expanding the business pipeline in both segments.

Financial highlights

• Revenue (excluding iTrack royalties) rose 39% to £1.25m; total revenue was £2.26m, down from £2.46m year-over-year.

• Gross margin held steady at 90%; Translogik gross profit rate improved from 55% to 68%.

• Profit before tax was £0.01m, with operating cash inflow of £0.41m and period-end cash balance at £1.33m, rising to £1.77m post-royalty.

• AEBITDA for the period was £0.33m (vs. £0.80m prior year); EPS was 0.02p (vs. 3.61p prior year).

Outlook and guidance

• Management is confident in achieving long-term growth targets, with a robust and expanding pipeline in both SAWsense and Translogik.

• Revenue guidance for 2030 is in the range of £10–12.5m, with EBIT of £4m considered achievable, and potential upside if high-volume programs succeed.

• No immediate need for additional capital raising; cash forecasts maintain at least £1m headroom.