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RNS Number : 6280I MTI Wireless Edge Limited 24 November 2025
24 November 2025
MTI Wireless Edge Ltd
("MTI", the "Company" or the "Group")
Q3 2025 Financial Results
High demand across all three divisions led to a quarter of record revenues and
profitability for the Group
MTI Wireless Edge Ltd (AIM: MWE), the technology group focused on
comprehensive communication and radio frequency solutions across multiple
sectors, is pleased to announce its financial results for the nine-month
period ended 30 September 2025 (the "Period").
Financial highlights
· 12% increase in revenues for the Period to $37.8m (9 months to 30
September 2024: $33.7m)
· 21% improvement in profit from operations to $4.2m (9 months to 30
September 2024: $3.5m)
· 20% rise in earnings per share to 4.31 US cents (9 months to 30
September 2024: 3.60 US cents)
· High net cash provided by operating activities of $4.0m (9 months to
30 September 2024: $1.1m and $3.1m for 12 months to 31 December 2024)
· Net cash position rose to $6.4m as at 30 September 2025 (30 September
2024: $4.8m)
· Progressive final dividend is anticipated to be declared alongside
MTI's full year results which will be announced during the first quarter of
2026
Operational highlights
· Antenna division performed strongly, benefitting from an increase in
defence spending
o Rising demand for military antennas globally was the principal driver of
growth in the third quarter and the nine months ended 30 September 2025
o Slower level of demand for the Company's 5G backhaul solution in India,
compared to the first six months of the year, was seen in the quarter and is
continuing into the final quarter of the financial year
o However, the ABS antenna solution has attracted significant commercial
interest from leading cellular operators globally
o Overall, extremely well placed for both the remainder of 2025 and beyond,
with a number of significant tenders for potential new business awaiting
responses
· Mottech delivered a strong third quarter
o Demand for electronic water management and irrigation solutions continues
to grow from both businesses and governments, alongside a growing awareness of
the need to avoid waste
o Key markets were Israel, the Gulf States, Italy and the US
o Overall, well placed to achieve a strong result for FY2025
· MTI Summit recorded a positive third quarter
o PSK, a defence focused subsidiary, reversed a previous period of
under-performance delivering a profit in Q3 and has in place a strong pipeline
of new prospects
o Demand from the defence sector is the main revenue driver for this
division
o Looking ahead, MTI Summit is well positioned, with a growing number of
design solution requests, which are expected to add to an already robust order
backlog.
Outlook
· Positioned for a strong full year outturn, driven by all three
divisions performing well
· Growth being driven by three distinct markets: defence, the roll-out
of 5G, and solutions addressing water scarcity
· Strong cash position and cash generation supports a progressive
dividend, anticipated to be declared during Q1 2026
Moni Borovitz, Chief Executive Officer of MTI Wireless Edge, said:
"This quarter delivered record revenues and profitability, positioning the
business for a strong full-year performance. The Company has also been highly
cash-generative, with net cash provided by operating activities of $4.0m in
the first nine months of 2025 compared with $3.1m for the full 12 months of
2024. Overall, this represents a very satisfying performance to date.
MTI is strategically placed to benefit from three key growth markets: defence,
the roll-out of 5G, and solutions addressing water scarcity. Among these, the
defence sector remains the largest driver of growth, now accounting for 48% of
total sales. Rising global conflicts and the increasing shift toward
electronic warfare align closely with MTI's radio-frequency-led communication
solutions. With governments worldwide committing to higher defence budgets,
demand from this sector is expected to remain strong. We continue to be
pleased by the significant commercial interest that our ABS antenna solution
is attracting, including from leading global cellular operators.
The Group also has a robust order backlog to support the final quarter of
FY2025, and looking ahead into FY2026, a series of upcoming significant
tenders are expected to further strengthen the order book."
For further information please contact:
MTI Wireless Edge Ltd +972 3 900 8900
Moni Borovitz, CEO http://www.mtiwirelessedge.com (http://www.mtiwirelessedge.com)
Allenby Capital Limited (Nomad and Joint Broker) +44 20 3328 5656
Nick Naylor/Alex Brearley/Piers Shimwell (Corporate Finance)
Tony Quirke/Amrit Nahal (Sales and Corporate Broking)
Shore Capital (Joint Broker) +44 20 7408 4090
Toby Gibbs/George Payne(Corporate Advisory)
Fiona Conroy (Corporate Broking)
Novella (Financial PR)
Tim Robertson/Safia Colebrook +44 20 3151 7008
About MTI Wireless Edge Ltd. ("MTI")
Headquartered in Israel, MTI is a technology group focused on comprehensive
communication and radio frequency solutions across multiple sectors through
three core divisions:
Antenna division
MTI is internationally recognised as a producer of commercial off-the-Shelf
and custom-developed antenna solutions in a broad frequency range of HF to 170
GHz for commercial, RFID and military applications. MTI continuously invests
in ground breaking technologies, explores new frequencies, and devises
innovative solutions which empower our wireless communication customers with
cutting-edge off-the-shelf and custom-made antennas.
We are at the forefront of technology and innovation, being the first to
introduce Dual Band parabolic antennas, E Band Automatic Beam Steering
antennas, E Band FCC compliant flat antennas, and more.
MTI supplies directional and omnidirectional antennas for outdoor and indoor
deployments, including smart antennas for 5G backhaul, Broadband access,
public safety, RFID, base station and terminals for the utility market.
Military applications include a wide range of broadband, tactical and
specialized communication antennas, antenna systems and DF arrays installed on
numerous airborne, ground and naval, including submarine, platforms worldwide.
Water Control & Management division
Via its subsidiary, Mottech Water Solutions Ltd ("Mottech"), MTI provides
high-end remote control and monitoring solutions for water and irrigation
applications based on Motorola's IRRInet state-of-the-art control, monitoring
and communication technologies.
As Motorola's global prime-distributor Mottech serves its customers worldwide
through its international subsidiaries and a global network of local
distributors and representatives. With over 25 years of experience in
providing customers with irrigation remote control and management, Mottech's
solutions ensure constant, reliable and accurate water usage, increase crops
quality and yield while reducing operational and maintenance costs providing
fast ROI while helping sustain the environment. Mottech's activities are
focused in the market segments of agriculture, water distribution, municipal
and commercial landscape as well as wastewater and storm-water reuse.
Distribution & Professional Consulting Services division
Via its subsidiary, MTI Summit Electronics Ltd., MTI offers consulting,
representation and marketing services to foreign companies in the field of RF
and Microwave solutions and applications including engineering services
(including design and integration) in the field of aerostat systems and the
ongoing operation of Platform subsystems, SIGINT, RADAR, communication and
observation systems which is performed by the Company. It also specializes in
the development, manufacture and integration of communication systems and
advanced monitoring and control systems for the Government and defence
industry market.
MTI WIRELESS EDGE LTD.
(An Israeli Corporation)
INTERIM CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME
Nine month period ended Year ended December 31,
September 30,
2025 2024 2024
U.S. $ in thousands
(Except per share data)
Unaudited
Revenues 37,829 33,743 45,573
Cost of sales 25,641 23,122 31,370
Gross profit 12,188 10,621 14,203
Research and development expenses 831 731 1,016
Distribution expenses 2,641 2,518 3,413
General and administrative expenses 4,505 3,954 5,321
Loss (profit) from sale of property, plant and equipment - (58) 59
Profit from operations 4,211 3,476 4,512
Finance expenses 300 210 282
Finance income (24) (305) (582)
Profit before income tax 3,935 3,571 4,812
Tax expenses 514 500 619
Profit 3,421 3,071 4,193
Other comprehensive income (loss) net of tax:
Items that will not be reclassified to profit or loss:
Re-measurement of defined benefit plans - - 16
Items that may be reclassified to profit or loss:
Adjustment arising from translation of financial statements of foreign 105 (26) (149)
operations
Total other comprehensive income (loss) 105 (26) (133)
Total comprehensive income 3,526 3,045 4,060
Profit (loss) attributable to:
Owners of the parent 3,719 3,151 4,364
Non-controlling interests (298) (80) (171)
3,421 3,071 4,193
Total comprehensive income (loss) attributable to:
Owners of the parent 3,824 3,125 4,231
Non-controlling interests (298) (80) (171)
3,526 3,045 4,060
Earnings per share (dollars)
Basic (dollars per share) 0.0431 0.0360 0.0499
Diluted (dollars per share) 0.0430 0.0360 0.0499
Weighted average number of shares outstanding
Basic 86,195,724 87,472,764 87,371,990
Diluted 86.574,181 87,511,080 87,460,876
The accompanying notes form an integral part of the financial statements.
INTERIM CONSOLIDATED STATEMENTS OF
CHANGES IN EQUITY
For the nine month period ended September 30, 2025 (Unaudited):
Attributable to owners of the parent
Share capital Additional paid-in capital Translation differences Retained earnings Total attributable to owners of the parent Non-controlling interest Total equity
U.S. $ in thousands
Balance at January 1, 2025 209 22,002 (615) 6,861 28,457 1,051 29,508
Changes during the nine month period
ended September 30, 2025:
Comprehensive income
Profit (loss) for the period - - - 3,719 3,719 (298) 3,421
Other comprehensive income
Translation differences - - 105 - 105 - 105
Total comprehensive income (loss) for the period - - 105 3,719 3,824 (298) 3,526
Share based payment - 81 - - 81 - 81
Dividend - - - (2,922) (2,922) - (2,922)
Balance at September 30, 2025 209 22,083 (510) 7,658 29,440 753 30,193
The accompanying notes form an integral part of the financial statements.
INTERIM CONSOLIDATED STATEMENTS OF
CHANGES IN EQUITY (CONT.)
For the nine month period ended September 30, 2024 (Unaudited):
Attributable to owners of the parent
Share capital Additional paid-in capital Translation differences Retained earnings Total attributable to owners of the parent Non-controlling interest Total equity
U.S. $ in thousands
Balance at January 1, 2024 209 23,061 (466) 5,226 28,030 1,222 29,252
Changes during the nine month period
ended September 30, 2024:
Comprehensive income
Profit (loss) for the period - - - 3,151 3,151 (80) 3,071
Other comprehensive loss
Translation differences - - (26) - (26) - (26)
Total comprehensive income (loss) for the period - - (26) 3,151 3,125 (80) 3,045
Acquisition and disposal of treasury shares * (1,024) - - (1,024) - (1,024)
Share based payment - 79 - - 79 - 79
Dividend - - - (2,745) (2,745) - (2,745)
Balance at September 30, 2024 209 22,116 (492) 5,632 27,465 1,142 28,607
(*) Less than US$ 1 thousand
The accompanying notes form an integral part of the financial statements.
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (CONT.)
For the year ended December 31, 2024 :
Attributable to owners of the parent
Share capital Additional paid-in capital Translation differences Retained earnings Total attributable to owners of the parent Non-controlling interests Total equity
U.S. $ in thousands
Balance as at January 1, 2024 209 23,061 (466) 5,226 28,030 1,222 29,252
Changes during 2024:
Comprehensive income
Profit (loss) for the year - - - 4,364 4,364 (171) 4,193
Other comprehensive income (loss)
Re measurements on defined benefit plans - - - 16 16 - 16
Translation differences - - (149) - (149) - (149)
Total comprehensive income (loss) for the year - - (149) 4,380 4,231 (171) 4,060
Dividend - - - (2,745) (2,745) - (2,745)
Share based payment - 106 - - 106 - 106
Acquisition and disposal, net of treasury shares - (1,165) - - (1,165) - (1,165)
Balance as at December 31, 2024 209 22,002 (615) 6,861 28,457 1,051 29,508
The accompanying notes form an integral part of the financial statements.
MTI WIRELESS EDGE LTD.
(An Israeli Corporation)
INTERIM CONSOLIDATED STATEMENTS OF
FINANCIAL POSITION
30.09.2025 30.09.2024 31.12.2024
U.S. $ in thousands
Unaudited
ASSETS
CURRENT ASSETS:
Cash and cash equivalents 6,595 5,144 6,269
Trade and other receivables 15,699 13,850 16,726
Unbilled revenue 5,931 4,874 3,200
Current tax receivables 541 291 297
Inventories 8,025 8,122 8,168
36,791 32,281 34,660
NON-CURRENT ASSETS:
Long term prepaid expenses 35 31 34
Property, plant and equipment 5,341 5,339 5,584
Deferred tax assets 1,321 1,020 1,187
Intangible assets 3,329 3,388 3,348
10,026 9,778 10,153
Total assets 46,817 42,059 44,813
The accompanying notes form an integral part of the financial statements.
MTI WIRELESS EDGE LTD.
(An Israeli Corporation)
INTERIM CONSOLIDATED STATEMENTS OF
FINANCIAL POSITION
30.09.2025 30.09.2024 31.12.2024
U.S. $ In thousands
Unaudited
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Current maturities and short-term bank credit and loans 59 250 274
Trade payables 8,599 6,163 8,433
Other accounts payable 5,190 4,261 4,098
Current tax payables 428 289 255
14,276 10,963 13,060
NON- CURRENT LIABILITIES:
Contingent consideration and put option liability 837 1,117 837
Lease liabilities 533 509 601
Loans from banks, net of current maturities 100 75 37
Employee benefits, net 878 788 770
2,348 2,489 2,245
Total liabilities 16,624 13,452 15,305
EQUITY
Equity attributable to owners of the parent
Share capital 209 209 209
Additional paid-in capital 22,083 22,116 22,002
Translation differences (510) (492) (615)
Retained earnings 7,658 5,632 6,861
29,440 27,465 28,457
Non-controlling interests 753 1,142 1,051
Total equity 30,193 28,607 29,508
Total equity and liabilities 46,817 42,059 44,813
November 23, 2025
Date of approval of financial statements Moshe Borovitz Elhanan Zeira Amalia Borovitz Bryl
Chief Executive Officer Controller Non-executive Chair
The accompanying notes form an integral part of the financial statements.
INTERIM CONSOLIDATED STATEMENTS OF
CASH FLOWS
Nine month period ended Year ended December 31,
September 30,
2025 2024 2024
U.S. $ in thousands
Unaudited
Cash Flows from Operating Activities:
Profit for the period 3,421 3,071 4,193
Adjustments for:
Depreciation and amortization 861 1,291 1,370
Equity settled share-based payment expense 81 81 106
Loss (Gain) from sale of property, plant and equipment 120 (56) (26)
Finance (income) expenses, net 106 (469) (180)
Changes in Contingent consideration and Put option liability - - (280)
Tax expenses 514 500 619
Changes in operating assets and liabilities:
Decrease (increase) in inventories 304 (626) (749)
Decrease (increase) in trade receivables 107 (7) (2,171)
Decrease (increase) in other accounts receivables 979 361 (319)
Decrease (increase) in unbilled revenues (2,731) (684) 990
Increase (decrease) in trade and other accounts payables 4 918 (1,870) 192
Increase (decrease) in employee benefits, net 108 69 67
Cash from operations 4,788 1,580 3,812
Interest received 19 69 109
Interest paid (66) (61) (79)
Income tax (695) (453) (780)
Net cash provided by operating activities 4,046 1,135 3,062
The accompanying notes form an integral part of the financial statements.
INTERIM CONSOLIDATED STATEMENTS OF
CASH FLOWS (cont.)
Nine month period ended Year ended December 31,
September 30,
2025 2024 2024
U.S. $ in thousands
Unaudited
Cash Flows from Investing Activities:
Proceeds from sale of property, plant and equipment - 56 56
Purchase of property, plant and equipment (433) (486) (891)
Net cash used in investing activities (433) (430) (835)
Cash Flows from Financing Activities:
Dividend paid (2,922) (2,745) (2,745)
Payments of lease liabilities (271) (485) (364)
Treasury shares acquired - (1,024) (1,165)
Receipt of short-term loans from banks, net (164) 247 14
Repayment of long-term loans from banks (9) (9) (101)
-
Net cash provided by /(used in) financing activities (3,366) (4,016) (4,361)
(Decrease)/Increase in cash and 247 (3,311) (2,134)
cash equivalents during the period
Cash and cash equivalents 6,269 8,454 8,454
at the beginning of the period
Exchange differences on balances of cash and cash equivalents 79 1 (51)
Cash and cash equivalents 6,595 5,144 6,269
at the end of the period
The accompanying notes form an integral part of the financial statements.
MTI WIRELESS EDGE LTD.
(An Israeli Corporation)
NOTES TO INTERIM CONSOLIDATED FINANCIAL STATEMENTS
Note 1 - General:
Corporate information:
M.T.I Wireless Edge Ltd. (hereafter - the "Company", or collectively with its
subsidiaries, the "Group") is an Israeli corporation. The Company was
incorporated under the Companies Act in Israel on December 30, 1998 and
commenced operations on July 1, 2000. Since March 2006, the Company's shares
have been traded on the AIM market of the London Stock Exchange.
The formal address of the Company is 11 Hamelacha Street, Afek industrial
Park, Rosh-Ha'Ayin, Israel.
The Company and its subsidiaries are engaged in the following areas:
- Development, design, manufacture and marketing of antennas for the
military and civilian sectors.
- A leading provider of remote control solutions for water and
irrigation applications based on Motorola's IRRInet state of the art control,
monitoring and communication technologies.
- Providing consulting, representation and marketing services to
foreign companies in the field of RF (radio frequency) and Microwave,
including engineering services in the field of aerostat systems and system
engineering services.
- Development, manufacture and integration of communication systems
and advanced monitoring and control systems for the Government and defence
industry market.
Note 2 - Significant Accounting Policies:
The interim consolidated financial statements have been prepared in accordance
with generally accepted accounting principles for the preparation of financial
statements for interim periods, as prescribed in International Accounting
Standard No. 34 ("Interim Financial Reporting").
The interim consolidated financial information set out above does not
constitute full year-end accounts within the meaning of Israeli Companies Law.
It has been prepared on the going concern basis in accordance with the
recognition and measurement criteria of the International Financial Reporting
Standards (IFRS). Statutory financial information for the financial year ended
December 31, 2024 was approved by the board on 16 March 2025. The report of
the auditors on those financial statements was unqualified.
The interim consolidated financial statements as of September 30, 2025 have
not been audited.
The interim consolidated financial information should be read in conjunction
with the annual financial statements as of December 31, 2024 and for the year
then ended and with the notes thereto. The significant accounting policies
applied in the annual financial statements of the Company as of December 31,
2024 are applied consistently in these interim consolidated financial
statements.
Note 3 - REVENUES:
Nine month period ended Year ended December 31,
September 30,
2025 2024 2024
U.S. $ in thousands
Unaudited
Revenues arise from:
Sale of goods* 25,948 23,774 32,827
Rendering of services** 5,208 6,027 8,075
Projects** 6,673 3,942 4,671
37,829 33,743 45,573
(*) at the point in time
(**) over time
Note 4 - operating SEGMENTS:
The following tables present revenue and profit information regarding the
Group's operating segments for the nine month period ended September 30, 2025
and 2024 respectively and for the year ended December 31, 2024.
Nine month period ended September 30, 2025 (Unaudited):
Antennas Water Solutions Distribution & Consultation Services Adjustment & Elimination Total
U.S. $ in thousands
Revenues
External 12,273 13,403 12,153 - 37,829
Internal - - 450 (450) -
Total 12,273 13,403 12,603 (450) 37,829
Segment profit 1,106 1,225 1,475 405 4,211
Finance expense (income), net 290
Tax expenses 514
Profit 3,407
September 30, 2025:
Antennas Water Solutions Distribution & Consultation Services Adjustment & Elimination Total
U.S. $ in thousands
Segment assets 17,588 13,859 14,685 - 46,132
Unallocated assets 2,226
Segment liabilities 6,155 4,927 6,214 - 17,296
Unallocated liabilities 883
Note 4 - operating SEGMENTS (CONT.):
Nine month period ended September 30, 2024 (Unaudited):
Antennas Water Solutions Distribution & Consultation Services Adjustment & Elimination Total
U.S. $ in thousands
Revenues
External 10,225 12,345 11,173 - 33,743
Internal - - 227 (227) -
Total 10,225 12,345 11,400 (227) 33,743
Segment profit 1,010 1,804 285 377 3,476
Finance expense (income), net (94)
Tax expenses 500
Profit 3,070
September 30, 2024:
Antennas Water Solutions Distribution & Consultation Services Adjustment & Elimination Total
U.S. $ in thousands
Segment assets 15,719 12,695 11,325 - 39,739
Unallocated assets 2,320
Segment liabilities 4,562 4,184 4,248 - 12,994
Unallocated liabilities 778
Year ended December 31, 2024
Antennas Water Solutions Distribution & Consultation Eliminations Total
U.S. $ in thousands
Revenues
External 14,136 16,888 14,549 - 45,573
Inter-segment - - 296 (296) -
Total 14,136 16,888 14,845 (296) 45,573
Segment profit 1,311 2,307 471 423 4,512
Finance income, net 300
Profit before tax 4,812
Tax expenses 619
Profit 4,193
Note 4 - operating SEGMENTS (CONT.):
December 31, 2024:
Antennas Water Solutions Distribution & Consultation Eliminations Total
U.S. $ in thousands
Segment assets 17,404 13,406 11,672 - 42,482
Unallocated assets 2,295
Segment liabilities 5,363 4,618 4,394 - 14,375
Unallocated liabilities 894
Note 5 - SIGNIFICANT EVENTS:
A. The Board of directors declared a cash dividend of 3.3 US cents per share
being approximately $2,922,000. This dividend was paid on 11 April 2025 to
shareholders on the register at the close of trading on 28 March 2025.
B. The financial statements for the year ended 31 December 2024 were
authorized for issue by the board as a whole following their approval on 16
March 2025.
C. On 24 January 2019, the Company announced a share repurchase program to
conduct market purchases of ordinary shares of par value 0.01 Israeli Shekels
each ("Ordinary Shares") in the Company up to a maximum value of £150,000
(the "Programme"). Thereafter, the board of directors of the Company and the
board of directors of MTI Engineering have decided to continue with the
Programme for several further periods and to increase the maximum value of the
Programme up to £1,000,000, plus any additional funds received from dividends
or profits from selling the shares, although the current intention is to hold
the Ordinary Shares purchased for a longer period of time. The Programme is
currently in place until the end of March 2026 and as at 30 September 2025,
2,343,000 Ordinary Shares were held in treasury under the Programme.
D. On 6 May 2025, MTI announced that its subsidiary MTI Summit had increased
its ownership of its subsidiary P.S.K Wind Technologies Ltd. ("PSK") via a new
equity investment (by issuance of shares in PSK) of NIS 600,000 (approximately
US$170,000) (the "Investment"). Following the Investment, the Group owns 60%
of PSK. Previously, on 4 January 2022, MTI announced that MTI Summit had
acquired 51% of PSK (the "Acquisition"). In addition to the Acquisition, an
earn out mechanism was in place under which further consideration could
potentially be payable to the vendors of PSK (the "Earn Out") and that MTI
Summit has an option to purchase and the vendors of PSK have an option to sell
to MTI Summit the remaining 49% of PSK (the "Option") starting from 2027. The
Earn Out has now lapsed and no further consideration is payable to the vendors
of PSK. Following the Investment, the Option has been modified to reflect that
the vendors' holding in PSK is now 40%. The remaining terms of the Option
remain as set out in MTI's announcement of 4 January 2022.
Note 5 - SIGNIFICANT EVENTS (cont.):
E. On 20 June 2025 Mr. Zvi Borovitz, the Company's founder and Chairman of
the board, passed.
F. On 29 September 2025, Mrs. Amalia Borovitz Bryl was elected as the
Chair of the board, which included entering into the existing Management
Services Agreement replacing the late Mr. Zvi Borovitz under the same terms
and conditions, effective from 20 August 2025.
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