REG - Thruvision Group PLC - FY26 Trading Update

ThruvisionAnnouncement

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RNS Number : 5269Z  Thruvision Group PLC  08 April 2026

 

8 April 2026

 

Thruvision Group plc

 

FY26 Trading Update

 

Thruvision Group plc (AIM: THRU), a leading provider of walk-through security
technology ("Thruvision" or the "Company" and, together with its subsidiary
undertakings, the "Group"), today announces a trading update for the year
ended 31 March 2026 ("FY26").

 

Highlights:

·      FY26 revenue has increased by 45% to approximately £6.0 million
(FY25: £4.2 million), in line with Board expectations previously communicated
in November 2025 of revenue between £5 and £7 million.

·      Order backlog at 31 March 2026 was £1.3 million, with order
intake for FY26 of £7.1 million. This backlog will be delivered mostly in H1
FY27.

·      The Group's cash balance on 31 March 2026 was £2.0 million (31
March 2025: £0.4 million), following a fundraise of £2.6 million, after
costs, in July 2025.

 

FY26 revenue grew by £1.8 million or 45% to £6.0 million. This has been
underpinned by strong performance in Asia where the award of two material
orders totaling £2.7 million formed the bulk of the regional revenue. Our
indirect sales strategy in Asia is based on a small number of strong regional
partnerships, which we intend to strengthen further over time. The UK and
Europe were weaker than FY25, despite strong performance in the Prisons
market. Our core market in this region, Retail Distribution, declined due to
broader economic conditions, coupled with the ongoing need to rebuild our
direct sales capability and regional partnerships. The US grew modestly, due
to strong performance from Aviation. Retail Distribution in the US was weaker
than expected and we are addressing this with investment in our direct sales
force which we expect to lead to a significant improvement in FY27.

 

Victoria Balchin, CEO, commented: "It's very pleasing to see a return to
revenue growth as the steps we have taken to improve both our direct sales
force and our partnerships start to take effect. Whilst work remains to be
done, our new 81 Series product has been enthusiastically received and the
benefits of deploying Thruvision are increasingly appreciated across our
markets. Our challenge is now one of investing in our sales and marketing
capability and this is the central focus of the team as we start our new
year."

 

For further information please contact:

 

 Thruvision Group plc                                                   +44 (0)1235 425 400
 Tom Black, Executive Chairman
 Victoria Balchin, Chief Executive Officer and Chief Financial Officer

 Allenby Capital Ltd (Nominated Adviser & Broker)                       +44 (0)20 3328 5656
 James Reeve
 Jos Pinnington / Amrit Nahal (Sales)

 

About Thruvision

Thruvision is a leading international developer, manufacturer and supplier of
walk-through security technology. Its technology is deployed in more than 30
countries around the world by government and commercial organisations in a
wide range of security situations, where large numbers of people need to be
screened quickly, safely and efficiently. Thruvision's patented technology is
capable of detecting concealed metallic and non-metallic objects in real time
using an advanced AI-based detection algorithm. The Group has offices and
manufacturing capabilities in the UK and US.

 

Important information

This announcement may include statements that are, or may be deemed to be,
"forward-looking statements" (including words such as "believe", "expect",
"estimate", "intend", "anticipate" and words of similar meaning). By their
nature, forward-looking statements involve risk and uncertainty since they
relate to future events and circumstances, and actual results may, and often
do, differ materially from any forward-looking statements. Any forward-looking
statements in this announcement reflect management's view with respect to
future events as at the date of this announcement. Save as required by
applicable law, the Company undertakes no obligation to publicly revise any
forward-looking statements in this announcement, whether following any change
in its expectations or to reflect events or circumstances after the date of
this announcement.

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