UK's T42 IoT revenue rises, turns profitable

t42 IoT Tracking Solutions

09/03/2026 07:10

Overview

IoT tracking solutions provider's full-year revenue rose significantly to over $6.1 mln

Company achieved operating profit of c.$0.4 mln, improving from prior yr loss of $0.9 mln

Gross margins grew to c.45%, reflecting reduced production costs and higher margin sales

Outlook

Company expects minimal impact from Middle East turmoil due to global customer base

Company anticipates increased commercialization with new and existing client relationships

Strong momentum from last year expected to continue into current year

Result Drivers

SAAS REVENUE GROWTH - Revenue increase included a c.10% rise in SaaS revenues, indicating strong trading across the business

HIGHER MARGIN PRODUCTS - Gross margins grew to c.45% due to increased sales from higher margin products, notably Lokies

Company press release: ID:nRSI7368Va

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
$6.1 mln
FY EBIT
$400,000


Analyst Coverage

The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 3 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)