REG - CyanConnode Holdings - Trading Statement

Cyanconnode HoldingsAnnouncement

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RNS Number : 7445B  CyanConnode Holdings PLC  24 April 2026

 

 

24 April 2026

 

CyanConnode Holdings plc

("CyanConnode", the "Company" or the "Group")

 

Trading Update for FY2026

 

 

CyanConnode Holdings plc (AIM: CYAN), a global provider of IoT communication
and smart metering solutions, is pleased to announce a trading update for the
12 months ended 31 March 2026 ("FY2026").

The Company expects to report revenues of in excess of £20 million (subject
to audit) (FY2025: £14.2 million) for the period. A significant proportion of
this revenue relates to the Company's Goa project, for which installation has
now commenced. The first meters, along with an integrated software platform
and related services, were successfully implemented during H2 FY2026. This
project represents CyanConnode's first contract as an Advanced Metering
Infrastructure Service Provider ("AMISP").

During the second half of FY2026, the Company moved toward completion of its
new product suite, including the FG28 module, cellular modules and In-Meter
Gateways, which have significantly lower costs to the Company. In anticipation
of the new product launch, certain hardware shipments were deferred by the
Company, leading to a lower proportion of the revenue for the year relating to
the part of the Group's business where it acts as a subcontractor, supplying
only its communication technology. Hardware shipments are expected to increase
following the new product launch, targeted for H1 FY2027.

A total of £10.8m cash was collected from customers (£11.6m at constant
currencies) during the period (compared to £14.2m for FY 2025). Approximately
£2.3m of the £10.8m collected related to trade receivables from FY 2025 and
£8.6m related to FY 2026 trade receivables. The Company wishes to clarify
that at the time of the FY2026 interim results, cash collection since 30
September 2025 was £1.6m, as stated, of which £0.3m related to trade
receivables from FY2025, and £1.3m related to trade receivables from
FY2026.

The Company continues to make steady progress with several long-term
prospective projects in the APAC region and the Middle East. These
opportunities are moving closer to order stage and, if secured, would
represent good growth potential for the Group. In addition, CyanConnode has
been active in participating in a number of tenders, both as an AMISP and as a
sub-contractor in India.

- Ends -

 

Enquiries:

CyanConnode Holdings plc
                                  Tel: +44 (0) 1223 865 750

John Cronin, Group CEO
 
www.cyanconnode.com

Strand Hanson Limited (Nominated and Financial Adviser)
 Tel: +44 (0) 20 7409 3494

James Harris, Richard Johnson

 

Zeus Capital Limited (Joint
Broker)                                                         Tel:
+44 (0) 20 3829 5000

Simon Johnson, Louisa Waddell

 

Panmure Liberum (Joint
Broker)
Tel: +44 (0) 20 7886 2500

Rupert Dearden / James Sinclair-Ford

 

Novella (Financial PR)
 
Tel: +44 (0) 20 3151 7008

Tim Robertson / Aeliya Bilgrami

 

 

About CyanConnode

CyanConnode (AIM:CYAN.L), is a global provider of IoT communication and smart
metering solutions. Its comprehensive technology portfolio includes narrowband
RF mesh, advanced cellular modules, and hybrid communication platforms,
delivering scalable and cost-effective connectivity for smart energy and
infrastructure applications.

The Company's flagship Omnimesh platform offers highly reliable, self-forming
and self-healing networks, optimised for deployment across diverse geographic
and environmental conditions. Complemented by innovations such as long-range
RF, in-meter gateways, and AI-enhanced cellular connectivity, CyanConnode
provides flexible solutions tailored to evolving utility needs.

CyanConnode's Universal Head-End System (UHES) enables seamless integration
across multiple communication technologies, enhancing interoperability and
simplifying network management at scale.

As a trusted AMISP and OEM partner, CyanConnode works with utilities, system
integrators, and meter manufacturers through a global, vendor-agnostic
ecosystem. The Company is playing a central role in the digital transformation
of the energy sector, with projects spanning India, Southeast Asia, the Middle
East, and Europe.

 

For more information, please visit www.cyanconnode.com
(http://www.cyanconnode.com/)

 

The information contained within this announcement is deemed to constitute
inside information for the purposes of Article 7 of EU Regulation 596/2014
(Market Abuse Regulations) which is part of UK law by virtue of the European
Union (Withdrawal) Act 2018. Upon publication of this announcement, this
inside information is now considered to be in the public domain.

 

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