REG - Thruvision Group PLC - Material Contract Award and Trading Update

ThruvisionAnnouncement

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RNS Number : 3083P  Thruvision Group PLC  02 July 2025

 

2 July 2025

Thruvision Group plc

 

Material contract award and trading update

 

The Board of Thruvision Group plc (AIM: THRU) (the "Company", "Thruvision" or,
together with its subsidiary undertakings, the "Group"), the leading
international provider of walk-through security technology, announces a
material contract award and provides an update on current trading and the
Group's cash position.

Contract win

The Group is pleased to announce that it has secured a material contract for
20 systems, valued in excess of £1 million, from a new government customer in
Asia (the "Contract"). The Contract was secured through close collaboration
with the Group's regional partner and builds on the recent successful
deployment of multiple WalkTHRU screening lanes at a major cultural event in
Asia. The order is for Thruvision's highest specification systems and is
scheduled to be delivered during the next few weeks. It underscores growing
demand for the Group's advanced security solutions in high-profile government
applications. This contract resulted from one of the "Material Opportunities"
referred to in previous announcements.

Current Trading

Order intake for the first quarter of FY26 ended 30 June 2025, including the
Contract detailed above, was £2.3 million, an increase of 145% on the same
period in the prior year. This strong performance is in line with the Board's
expectations for the quarter. The Group's sales pipeline has a number of
Material Opportunities in Asia and other regions which the Board is confident
will convert to revenue during both the current and next financial year. The
Group's US business has also traded well, with a number of repeat unit
purchases from existing Retail Distribution customers. In addition, the Group
was awarded its first contract to provide a unit to a UK prison, following on
from the ongoing success in a European prison service.

Cash Position

On 23 June 2025, the Board announced that, at that time, its reasonable
expectation was that the Group's cash resources would last until the end of
September 2025.

Given the recent encouraging trading performance and the continued strength of
the sales pipeline, including both smaller and more material opportunities,
the Board now considers that the Group's cash resources will be sufficient to
last until the end of the calendar year, although this is dependent on future
trading performance and conversion of the sales pipeline in line with the
Board's reasonable expectations.

For further information, please contact:

Thruvision Group plc

Tom Black, Executive Chairman
                                          +44 (0)1235
425400

Victoria Balchin, Chief Executive Officer

Investec Investment Banking (NOMAD & Broker)

Patrick Robb / James Rudd / Sebastian Lawrence
                                 +44 (0)20 7597
5970

 

 

About Thruvision ( (http://www.thruvision.com/) www.thruvision.com
(http://www.thruvision.com/) ) (http://www.thruvision.com/)

 

Thruvision is the leading developer, manufacturer and supplier of advanced
AI-based walk- through security technology internationally. 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 uniquely capable of detecting concealed
objects in real time using advanced AI-based detection algorithms. The Group's
offices are near Oxford and Washington DC.

 

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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