Canada · Delayed Price · Currency is CAD Tantalus Systems Holding Earnings Call Transcripts
Fiscal Year 2026
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Record revenue and EBITDA growth were achieved, with strong gross margins and cash flow. TRUSense Gateway deployments expanded to 66 utilities, driving both new and existing customer growth. Strategic focus for 2026 includes scaling deployments, enhancing analytics, and mitigating supply chain risks.
Fiscal Year 2025
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Record revenue and recurring revenue growth in 2025, with strong TRUSense Gateway adoption and robust order conversions. Margin pressures from tariffs and supply chain challenges are being managed, while a strengthened balance sheet supports future investments and potential M&A.
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TRUSense Gateway and TRUPush technologies provide utilities with real-time, granular data and analytics, enabling proactive grid management, asset optimization, and improved customer service. Over 330 utilities are deploying the system, with adoption accelerating as funding and awareness grow.
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Revenue and recurring income reached record highs, driven by strong sales and the rapid adoption of TRUSense Gateway, now ordered by 52 utilities. Manufacturing capacity and risk mitigation are priorities, with a strategic focus on commercialization, analytics, and targeted M&A.
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Record Q3 and trailing 12-month revenue driven by strong demand for grid modernization, with TRUSense Gateway adoption exceeding expectations. Margins remain robust, recurring revenue is scaling, and management is optimistic about continued growth, supported by a strong pipeline and liquidity.
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Focused on modernizing utility grids, the company leverages its TRUSense Gateway to deliver real-time data, automation, and analytics, driving recurring revenue and strong customer retention. With nearly $50M in annual revenue and positive cash flow, it is positioned for growth as grid modernization accelerates.
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Revenue grew 22% year-over-year to $13.1M in Q2, with record recurring revenue and strong gross margins despite tariff headwinds. Orders and ARR hit all-time highs, driven by robust demand for TruSense Gateway and grid modernization solutions.
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Recent wins include the largest ERT migration with Riverside and a landmark TruSense Gateway contract with EPB Chattanooga, both driving significant upfront and recurring revenue. New analytics tools and joint action agency partnerships are accelerating adoption and market expansion.
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Record Q1 revenue grew 27% year-over-year, driven by strong demand for connected devices and software, with 33 utilities piloting the TRUSense Gateway. Gross margin improved to 55%, and positive cash flow enabled debt reduction and enhanced liquidity. Tariffs pose a near-term EBITDA headwind, but the outlook remains positive.
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A hardware-enabled software provider for utilities is driving grid modernization with edge computing and analytics, serving 320 utilities and achieving high customer retention. The TruSense Gateway, co-developed with utilities, is expected to fuel 15-20% annual growth and significant recurring revenue.
Fiscal Year 2024
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Achieved record revenue and positive adjusted EBITDA in 2024, driven by strong software and recurring revenue growth, major customer wins, and successful commercialization of the TRUSense Gateway. Liquidity improved, and the company is shifting focus to sales and marketing amid robust market demand and evolving competition.
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Q3 2024 saw 14% revenue growth, record orders, and strong gross margins, with the TRUSense Gateway achieving first revenues and expanding adoption. Recurring revenue hit a new high, and the company remains well-capitalized, with a robust pipeline and positive outlook for continued growth.
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Q2 revenue reached $10.7M with strong gross margins and record ARR, despite a 4% year-over-year decline due to timing and one-time items. Orders surged 46% in the first half, and the TRUSense Gateway launch is expected to drive H2 growth.