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RNS Number : 5447F MTI Wireless Edge Limited 26 May 2026
26 May 2026
MTI Wireless Edge Ltd
("MTI", the "Company" or the "Group")
Q1 2026 Financial Results & Investor Presentation
Good start to 2026 accelerated in April with multiple defence contract wins
worth $9m
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 three-month
period ended 31 March 2026.
Financial highlights - growth continues
· 6% increase in revenues to $12.8m (Q1 2025: $12.0m).
· 21% increase in operating profit to $1.5m (Q1 2025: $1.2m).
· 18% increase in net profit for shareholders in the Company to $1.2m
(Q1 2025: $1.0m).
· Earnings per share increased by 18% to 1.40 US cents (Q1 2025: 1.18
US cents).
· Strong financial position with net cash as at 31 March 2026 of $8.5m
(31 December 2025: $9.4m) with the movement in net cash versus the prior
period reflecting particularly strong cash collection in Q4 2025.
Operational highlights
Antennas
· The Antenna division supplies a wide range of standard flat and
parabolic antennas, as well as bespoke antenna solutions, to commercial and
military customers. It also specialises in 5G backhaul antennas used in mobile
network rollouts.
· Higher global defence spending drove strong demand for military
antennas increasing the order backlog in April 2026. Military antennas were
the division's main revenue contributor for the quarter, supported by RFID
sales and sales of the innovative ABS® antenna solution as part of the
Company's 5G backhaul offering.
· Overall, Q1 was a relatively slow period for the Antenna division,
with revenue 20% below the same period last year, held back by lower E-band 5G
backhaul solution sales in India, compared to previous periods.
· While the timing of new orders remains difficult to predict, the
requirement for MTI's solutions to support leading mobile operators' rollout
of 5G networks is considered unchanged.
Water Control & Management
· The Water Control & Management division operates under the
Mottech brand and provides wireless control systems to manage irrigation and
water distribution for agriculture, municipal authorities and commercial
entities.
· Mottech's solutions reduce water and power usage for its customers
whilst generating higher crop yields through more accurate water usage.
· Revenues in Q1 2026 increased sharply, up 19% versus the same period
last year, with profits also increasing strongly. The positive Q1 performance
was driven mainly by international markets particularly North America, Italy
and the Arabian Gulf.
Distribution & Professional Consulting Services
· Operates under the MTI Summit Electronics brand and represents
approximately 40 international suppliers of radio frequency/microwave
components, selling these products to Israeli customers.
· Expert knowledge of both the international suppliers and customers
enables MTI to also act as a consultant to all parties and assist with
devising complete radio frequency/microwave solutions.
· Revenues increased by 20% in Q1 2026, a much-improved performance
with solid contributions from PSK and the other parts of the division, also
resulting in a good level of profitability.
· New business wins have created a lengthy backlog of orders for both
the traditional representation business and PSK, which together bode well for
the remainder of 2026.
Moni Borovitz, Chief Executive Officer of MTI Wireless Edge, said:
"Overall, this was a strong Q1 performance, particularly from Mottech which
benefitted from an uplift in demand from international customers seeking water
management services. Moving into Q2, we received a record level of defence
related orders worth just over $9 million, the majority of which is expected
to be fulfilled in the current year, adding to a backlog of orders for 2026
that was already high.
While defence orders are likely to continue to be a key driver of revenues in
the short to medium term, the diversification of MTI's operations across
multiple markets is a core strength of the business and all three divisions
continue to contribute positively to the Group's trading performance. Overall,
MTI is in a good position with net cash of $8.5m, a strong balance sheet and a
growing customer base."
Investor Presentation
MTI will be presenting at the Mello London investor event on Wednesday 3 June
2026, to be held at The Clayton Hotel & Conference Centre, Chiswick High
Road, London, W4 5RY. For further information and tickets (use code
SHAREML25 for 25% off ticket price) for the Mello London conference, please
visit the event website at https://www.melloevents.com/mello2026
(https://protect.checkpoint.com/v2/r02/___https:/www.melloevents.com/mello2026___.YXAxZTpzaG9yZWNhcDpjOm9mZmljZTM2NV9lbWFpbHNfYXR0YWNobWVudDpkNDI0MTM2MmVmOTZhMDFiMDc5MjZlZGE5OGNlYTNjMjo3OjFiMGU6M2VlZDU2MzM5M2FiYzliYTUwNjMxODI5Mzc0ZWY5ZDU5ODZmZTk4YTVlNzQ0Zjg2YzY2MjMwODkwZTM1NmU1NTpwOlQ6Tg)
.
Engage with the MTI Wireless Edge Ltd. management team directly by asking
questions, watching video summaries and seeing what other shareholders have to
say. Navigate to our interactive investor hub
here: http://investors.mtiwirelessedge.com/announcements
(https://protect.checkpoint.com/v2/r02/___http:/investors.mtiwirelessedge.com/announcements___.YXAxZTpzaG9yZWNhcDpjOm9mZmljZTM2NV9lbWFpbHNfYXR0YWNobWVudDpkNDI0MTM2MmVmOTZhMDFiMDc5MjZlZGE5OGNlYTNjMjo3OjE0M2U6MzZlZjg0YzgwZDM0OGJjZjUwMGMzYjVlM2EyNmRmMDdjMGRlMmRlZTQ4MDkyNDJlNmVkZTU4YTQ1NjBjMzZmYjpwOlQ6Tg)
.
For further information please contact:
MTI Wireless Edge Ltd +972 3 900 8900
Moni Borovitz, CEO http://www.mtiwirelessedge.com
(https://protect.checkpoint.com/v2/r02/___http:/www.mtiwirelessedge.com___.YXAxZTpzaG9yZWNhcDpjOm9mZmljZTM2NV9lbWFpbHNfYXR0YWNobWVudDpkNDI0MTM2MmVmOTZhMDFiMDc5MjZlZGE5OGNlYTNjMjo3OjYyMjc6NzA3NDVlYWU2ODY2NmU4ZGM0Nzc3NDEwODA0NDkyNjViZjRkZTEzNGY2NDU2OWUwYzNiNzUzODliYWRkMTIzNDpwOlQ6Tg)
Allenby Capital Limited (Nomad and Joint Broker) +44 20 3328 5656
Nick Naylor/Alex Brearley/David Asquith (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/Oliver Norton +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 a world leader in the design, development and production of high
quality, state-of-the-art, and cost-effective antenna solutions including
Smart Antennas, MIMO Antennas and Dual Polarity Antennas for wireless
applications. MTI supplies antennas for both military and commercial markets
from 100 KHz to 174 GHz.
Internationally recognized as a producer of commercial off-the-Shelf and
custom-developed antenna solutions in a broad frequency range, MTI addresses
both commercial and military applications.
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
Three month period ended Year ended December 31,
March 31,
2026 2025 2025
U.S. $ in thousands
(Except per share data)
Unaudited
Revenues 12,751 12,011 51,476
Cost of sales 8,467 8,260 34,751
Gross profit 4,284 3,751 16,725
Research and development expenses 275 266 1,166
Distribution expenses 879 862 3,642
General and administrative expenses 1,628 1,374 6,121
Loss (profit) from sale of property, plant and equipment (11) - 15
Profit from operations 1,513 1,249 5,811
Finance expenses 230 215 446
Finance income (86) (36) (45)
Profit before income tax 1,369 1,070 5,410
Tax expenses 130 143 751
Profit 1,239 927 4,659
Other comprehensive income (loss) net of tax:
Items that will not be reclassified to profit or loss:
Re-measurement of defined benefit plans - - (55)
Items that may be reclassified to profit or loss:
Adjustment arising from translation of financial statements of foreign 57 (26) 256
operations
Total other comprehensive income (loss) 57 (26) 201
Total comprehensive income 1,296 901 4,860
Profit (loss) attributable to:
Owners of the parent 1,205 1,019 5,047
Non-controlling interests 34 (92) (388)
1,239 927 4,659
Total comprehensive income (loss) attributable to:
Owners of the parent 1,262 993 5,248
Non-controlling interests 34 (92) (388)
1,296 901 4,860
Earnings per share (dollars)
Basic (dollars per share) 0.0140 0.0118 0.0586
Diluted (dollars per share) 0.0139 0.0118 0.0583
Weighted average number of shares outstanding
Basic 86,195,724 86,195,724 86,195,724
Diluted 86,695,151 86,704,578 86,510,376
The accompanying notes form an integral part of the financial statements.
MTI WIRELESS EDGE LTD.
(An Israeli Corporation)
INTERIM CONSOLIDATED STATEMENTS OF
CHANGES IN EQUITY
For the three month period ended March 31, 2026 (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, 2026 209 22,098 (359) 8,931 30,879 663 31,542
Changes during the three month period
ended March 31, 2026:
Comprehensive income
Profit for the period - - - 1,205 1,205 34 1,239
Other comprehensive income
Translation differences - - 57 - 57 - 57
Total comprehensive income for the period - - 57 1,205 1,261 34 1,265
Share based payment - 10 - - 10 - 10
Acquisition of minority holdings - - - - - (480) (480)
Balance at March 31, 2026 209 22,108 (302) 10,136 32,150 217 32,367
The accompanying notes form an integral part of the financial statements.
INTERIM CONSOLIDATED STATEMENTS OF
CHANGES IN EQUITY (CONT.)
For the three month period ended March 31, 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 three month period
ended March 31, 2025:
Comprehensive income
Profit for the period - - - 1,019 1,019 (92) 927
Other comprehensive income
Translation differences - - (26) - (26) - (26)
Total comprehensive income for the period - - (26) 1,019 993 (92) 901
Acquisition and disposal of treasury shares - 27 - - 27 - 27
Balance at March 31, 2025 209 22,029 (641) 7,880 29,477 959 30,436
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, 2025 :
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, 2025 209 22,002 (615) 6,861 28,457 1,051 29,508
Changes during 2025:
Comprehensive income
Profit (loss) for the year - - - 5,047 5,047 (388) 4,659
Other comprehensive income (loss)
Remeasurements on defined benefit plans - - - (55) (55) - (55)
Translation differences - - 256 - 256 - 256
Total comprehensive income (loss) for the year - - 256 4,992 5,248 (388) 4,860
Dividend - - - (2,922) (2,922) - (2,922)
Share based payment - 96 - - 96 - 96
Balance as at December 31, 2025 209 22,098 (359) 8,931 30,879 663 31,542
The accompanying notes form an integral part of the financial statements.
MTI WIRELESS EDGE LTD.
(An Israeli Corporation)
INTERIM CONSOLIDATED STATEMENTS OF
FINANCIAL POSITION
31.03.2026 31.03. 2025 31.12. 2025
U.S. $ in thousands
Unaudited
ASSETS
CURRENT ASSETS:
Cash and cash equivalents 8,702 8,467 9,547
Trade and other receivables 15,833 13,733 14,852
Unbilled revenue 6,746 3,748 6,674
Current tax receivables 620 341 618
Inventories 6,723 8,963 7,339
38,624 35,252 39,030
NON-CURRENT ASSETS:
Long term prepaid expenses 52 34 75
Property, plant and equipment 5,363 5,463 5,399
Deferred tax assets 1,336 1,303 1,304
Intangible assets 3,128 3,321 3,289
9,879 10,121 10,067
Total assets 48,503 45,373 49,097
The accompanying notes form an integral part of the financial statements.
INTERIM CONSOLIDATED STATEMENTS OF
FINANCIAL POSITION
31.03.2026 31.03.2025 31.12.2025
U.S. $ In thousands
Unaudited
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Current maturities and short term bank credit and loans 64 340 64
Trade payables 6,840 7,497 7,057
Other accounts payable 6,573 4,464 7,528
Current tax payables 361 349 562
13,838 12,650 15,211
NON- CURRENT LIABILITIES:
Contingent consideration 853 837 853
Lease liabilities 493 605 545
Loans from banks, net of current maturities 92 73 114
Employee benefits, net 859 772 832
2,297 2,287 2,344
Total liabilities 16,135 14,937 17,555
EQUITY
Equity attributable to owners of the parent
Share capital 209 209 209
Additional paid-in capital 22,108 22,029 22,098
Translation differences (302) (641) (359)
Retained earnings 10,136 7,880 8,931
32,151 29,477 30,879
Non-controlling interest 217 959 663
Total equity 32,368 30,436 31,542
Total equity and liabilities 48,503 45,373 49,097
May 24, 2026
Date of approval of financial statements Moshe Borovitz Elhanan Zeira Amalia Borovitz Bryl
Chief Executive Officer Controller Chairperson of the Board
The accompanying notes form an integral part of the financial statements.
MTI WIRELESS EDGE LTD.
(An Israeli Corporation)
INTERIM CONSOLIDATED STATEMENTS OF
CASH FLOWS
Three month period ended Year ended December 31,
March 31,
2026 2025 2025
U.S. $ in thousands
Unaudited
Cash Flows from Operating Activities:
Profit for the period 1,239 927 4,659
Adjustments for:
Depreciation and amortization 433 352 1,184
Equity settled share-based payment expense 10 27 96
Loss (Gain) from sale of property, plant and equipment (11) 114 (15)
Finance (income) expenses, net 32 (22) 40
Changes in Contingent consideration and Put option liability - - 16
Tax expenses 130 143 751
Changes in operating assets and liabilities:
Decrease (increase) in inventories 622 (796) 1,051
Decrease (increase) in trade receivables (1,497) 2,987 1,332
Decrease (increase) in other accounts receivables 576 (56) 689
Decrease (increase) in unbilled revenues (72) (548) (3,474)
Increase (decrease) in trade and other accounts payables (1,185) (584) 1,574
Increase (decrease) in employee benefits, net 27 2 7
Cash from operations 304 2,546 7,910
Interest received 14 - 30
Interest paid (32) (21) (88)
Income tax paid (368) (211) (850)
Net cash provided (used) by operating activities (82) 2,314 7,002
The accompanying notes form an integral part of the financial statements.
MTI WIRELESS EDGE LTD.
(An Israeli Corporation)
INTERIM CONSOLIDATED STATEMENTS OF
CASH FLOWS (cont.)
Three month period ended Year ended December 31,
March 31,
2026 2025 2025
U.S. $ in thousands
Unaudited
Cash Flows from Investing Activities:
Proceeds from sale of property, plant and equipment 13 - 40
Purchase of property, plant and equipment (196) (137) (540)
Net cash used in investing activities (183) (137) (500)
Cash Flows from Financing Activities:
Dividend - - (2,922)
Payments of lease liabilities (101) (85) (355)
Acquisition of the non-controlling interest in subsidiary (480) - -
Receipt of loans from banks - 111 150
Repayment of long-term loans from banks (24) (8) (220)
Net cash provided by /(used in) financing activities (605) 18 (3,347)
(Decrease)/Increase in cash and cash equivalents during the period (845) 2,195 3,155
Cash and cash equivalents at the beginning of the period 9,547 6,269 6,269
Exchange differences on balances of cash and cash equivalents 25 3 123
Cash and cash equivalents at the end of the period 8,702 8,467 9,547
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, 2025 was approved by the board on 3 March 2026. The report of the
auditors on those financial statements was unqualified.
The interim consolidated financial statements as of March 31, 2026 have not
been audited.
The interim consolidated financial information should be read in conjunction
with the annual financial statements as of December 31, 2025 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,
2025 are applied consistently in these interim consolidated financial
statements.
Note 3 - REVENUES:
Three month period ended Year ended
March 31, December 31,
2026 2025 2025
U.S. $ in thousands
Unaudited
Revenues arise from:
Sale of goods* 9,301 8,419 35,562
Rendering of services** 1,741 1,707 7,216
Projects** 1,709 1,885 8,698
12,751 12,011 51,476
(*) 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 three month period ended March 31, 2026 and
2025 respectively and for the year ended December 31, 2025.
Three month period ended March 31, 2026 (Unaudited):
Antennas Water Solutions Distribution & Consultation Services Adjustment & Elimination Total
U.S. $ in thousands
Revenues
External 3,212 5,016 4,523 - 12,751
Internal - - 91 (91) -
Total 3,212 5,016 4,614 (91) 12,751
Segment profit (loss) 234 571 591 117 1,513
Finance expense (income), net 144
Tax expenses 130
Profit 1,239
March 31, 2026:
Antennas Water Solutions Distribution & Consultation Services Adjustment & Elimination Total
U.S. $ in thousands
Segment assets 17,741 12,822 15,754 - 46,317
Unallocated assets 2,186
Segment liabilities 6,109 3,204 5,975 - 15,288
Unallocated liabilities 847
Note 4 - operating SEGMENTS (CONT.):
Three month period ended March 31, 2025 (Unaudited):
Antennas Water Solutions Distribution & Consultation Services Adjustment & Elimination Total
U.S. $ in thousands
Revenues
External 4,042 4,212 3,757 - 12,011
Internal - - 257 (257) -
Total 4,042 4,212 4,014 (257) 12,011
Segment profit 342 446 284 182 1,254
Finance expense, net 184
Tax expenses 142
Profit 927
March 31, 2025:
Antennas Water Solutions Distribution & Consultation Services Adjustment & Elimination Total
U.S. $ in thousands
Segment assets 17,000 12,912 13,188 - 43,100
Unallocated assets 2,273
Segment liabilities 4,887 3,793 5,301 - 13,981
Unallocated liabilities 956
Year ended December 31, 2025
Antennas Water Solutions Distribution & Consultation Eliminations Total
U.S. $ in thousands
Revenues
External 15,621 18,504 17,351 - 51,476
Inter-segment - - 403 (403) -
Total 15,621 18,504 17,754 (403) 51,476
Segment profit 1,512 1,864 1,990 445 5,811
Finance income, net 401
Profit before tax 5,410
Tax expenses 751
Profit 4,659
Note 4 - operating SEGMENTS (CONT.):
December 31, 2025:
Antennas Water Solutions Distribution & Consultation Eliminations Total
U.S. $ in thousands
Segment assets 16,786 14,245 15,851 - 46,882
Unallocated assets 2,215
Segment liabilities 5,078 4,667 6,892 - 16,637
Unallocated liabilities 918
Note 5 - SIGNIFICANT EVENTS:
A. The Board of directors declared a cash dividend of 3.4 US cents per share
being approximately $3,010,000. This dividend was paid on 14 April 2026 to
shareholders on the register at the close of trading on 27 March 2026.
B. The financial statements for the year ended 31 December 2025 were
authorized for issue by the board as a whole following their approval on 3
March 2026.
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 2027 and as at 31 March 2026,
2,343,000 Ordinary Shares were held in treasury under the Programme.
D. On 9 February 2026, Mottech Water Solutions acquired the remaining 50%
interest in its Australian subsidiary Mottech Parkland (Pty) Ltd. (Mottech
Parkland) for AUD550,000 and is now the sole owner of Mottech Parkland (Pty)
Ltd.
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