Calnex Solutions

CLX · AIM · Telecommunications · mcap £48m · 55.0p

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Financials · LTM to 31 Mar 26

Source: results 26 May 26 ↗

Revenue: £21.9m
Operating profit: £1.0m
Net income: £728k
Free cash flow: −£1.3m
Net cash: £9.3m
Market cap: £48.4m
EV / EBIT: 37.3×
FCF yield: −2.6%
Price / book: 1.8×

Latest half-year · H1 Sep 25 vs H1 Sep 24 results 18 Nov 25 ↗

Revenue: £8.0m
Operating profit: −£1.1m
Net income: −£704k
Cash from operations: £2.8m

Extracted automatically from the company's results announcements; check the source before relying on a figure. Not investment advice.

As reported Key figures

Income statement Balance sheet Cash flow

Annual Half-yearly

Every line as the company printed it in the results of each period, newest first. Italic = calculated (H2 = full year − first half). The column headings link to the announcements.

Latest report: FY Mar 26 (twelve months to 31 Mar 26), published 26 May 26 · read the results ↗

	FY Mar 26£'000	FY Mar 25£'000
Revenue	21,875	–
Cost of sales	(4,623)	–
Gross profit	13,763	–
Other income	962	–
Administrative expenses	(14,239)	–
Operating profit	1,049	–
Interest received	320	–
Finance costs	(70)	–
Profit before taxation	720	–
Taxation	(516)	–
Profit and total comprehensive
income for the year	337	–
Basic earnings per share	0.83	–
Diluted earnings per share	0.80	–
Consolidated and Company Statement of Financial Position
Group Company
Restated Restated
31 March 31 March 31 March 31 March
Total 31 March 31 March 31 March 31 March	2025	2025
£'000 £'000 £'000 £'000
Non-current assets Note
Intangible assets	12,255	11,750
Goodwill	2,000	-
Plant and equipment	187	187
Right-of-use assets	1,115	1,115
Deferred tax asset	591	591
Total non-current assets Note	16,148	13,643
Current assets
Inventories	5,358	5,358
Trade and other receivables	5,669	5,843
Corporation tax receivable	684	713
Cash and cash equivalents	10,912	10,757
Total current assets	22,623	22,671
Total assets	38,771	36,314
Current liabilities
Trade and other payables	5,895	5,866
Lease liabilities	289	289
Total current liabilities	6,184	6,155
Non-current liabilities
Trade and other payables	2,148	2,148
Lease liabilities	928	928
Deferred tax liabilities	2,940	2,814
Total non-current liabilities	6,016	5,890
Total liabilities	12,200	12,045
Net assets	26,571	24,269
Equity
Share capital	110	110
Share premium	7,671	7,671
Share option reserve	1,764	1,764
Retained earnings	17,026	14,724
Total equity	26,571	24,269

	H2 Mar 26£'000	H1 Sep 25£'000	H2 Mar 25£'000	H1 Sep 24£'000
Revenue	13,827	8,048	–	7,359
Cost of sales	(2,703)	(1,920)	–	(1,920)
Gross profit	7,635	6,128	–	5,439
Other income	566	396	–	102
Administrative expenses	(6,657)	(7,582)	–	(7,013)
Operating (loss)/profit	2,107	(1,058)	–	(1,472)
EBITDA	–	1,578	–	984
Depreciation and amortisation of non-R&D assets	–	(363)	–	(348)
Amortisation of R&D asset	–	(2,273)	–	(2,108)
Operating (loss) / profit	–	(1,058)	–	(1,472)
Interest received	164	156	–	162
Finance costs	(33)	(37)	–	(8)
(Loss)/profit before taxation	1,659	(939)	–	(1,318)
Taxation	(751)	235	–	328
(Loss)/profit and total comprehensive income for the year	–	(704)	–	(990)
Basic (loss)/earnings per share	1.63	(0.80)	–	(1.13)
Diluted (loss)/earnings per share	1.60	(0.80)	–	(1.13)

	FY Mar 26£'000	FY Mar 25£'000
Non-current assets
Intangible assets	12,255	11,750
Goodwill	2,000	-
Plant and equipment	187	187
Right-of-use assets	1,115	1,115
Deferred tax asset	591	591
Total non-current assets	16,148	13,643
Current assets
Inventories	5,358	5,358
Trade and other receivables	5,669	5,843
Corporation tax receivable	684	713
Cash and cash equivalents	10,912	10,757
Total current assets	22,623	22,671
Total assets	38,771	36,314
Current liabilities
Trade and other payables	5,895	5,866
Lease liabilities	289	289
Total current liabilities	6,184	6,155
Non-current liabilities
Trade and other payables	2,148	2,148
Lease liabilities	928	928
Deferred tax liabilities	2,940	2,814
Total non-current liabilities	6,016	5,890
Total liabilities	12,200	12,045
Net assets	26,571	24,269
Equity
Share capital	110	110
Share premium	7,671	7,671
Share option reserve	1,764	1,764
Retained earnings	17,026	14,724
Total equity	26,571	24,269

	H2 Mar 26£'000	H1 Sep 25£'000	H2 Mar 25£'000	H1 Sep 24£'000
Non-current assets
Intangible assets	12,255	12,633	11,750	12,483
Goodwill	2,000	2,000	-	2,000
Plant and equipment	187	177	187	271
Right-of-use assets	1,115	979	1,115	169
Deferred tax asset	591	566	591	533
Total non-current assets	16,148	16,355	13,643	15,456
Current assets
Inventory	–	5,248	–	6,086
Inventories	5,358	–	5,358	–
Trade and other receivables	5,669	3,040	5,843	2,956
Corporation tax receivable	684	1,018	713	1,148
Cash and cash equivalents	10,912	10,303	10,757	8,580
Total current assets	22,623	19,609	22,671	18,770
Total assets	38,771	35,964	36,314	34,226
Current liabilities
Trade and other payables	5,895	4,215	5,866	3,258
Lease liability payable within one year	–	261	–	127
Lease liabilities	289	–	289	–
Total current liabilities	6,184	4,476	6,155	3,385
Non-current liabilities
Trade and other payables	2,148	1,102	2,148	1,976
Lease liabilities payable later than one year	–	819	–	147
Deferred tax liability	–	2,940	–	2,497
Provisions	–	-	–	15
Lease liabilities	928	–	928	–
Deferred tax liabilities	2,940	–	2,814	–
Total non-current liabilities	6,016	4,861	5,890	4,635
Total liabilities	12,200	9,337	12,045	8,020
Net assets	26,571	26,627	24,269	26,206
Equity
Share capital	110	110	110	109
Share premium	7,671	7,703	7,671	7,511
Share option reserve	1,764	2,164	1,764	1,814
Retained earnings	17,026	16,650	14,724	16,772
Total equity	26,571	26,627	24,269	26,206

	FY Mar 26£'000	FY Mar 25£'000
Cash at bank	10,786	10,631
Cash on short term deposit	126	126
Total cash and cash equivalents	10,912	10,757
18 Trade and other payables
Group Company
Restated Restated
31 March 31 March 31 March 31 March
Total 31 March 31 March 31 March 31 March	2025	2025
£'000 £'000 £'000 £'000
Amounts due within one year
Trade payables	987	969
Other taxes and social security	226	226
Other payables	88	88
Accruals	739	731
Deferred RDEC credit	428	428
Deferred income	3,427	3,424
Total amounts due within one year	5,895	5,866
Amounts due after one year
Deferred RDEC credit	737	737
Deferred income	1,411	1,411
Total amounts due after one year	2,148	2,148
Total amounts due	8,043	8,014
19 Leases
Right of use assets
Building Group Company
Lease IT equipment Total Total
£'000 £'000 £'000 £'000
Cost
At 1 April 2025	79	1,441
Additions	-	-
Disposals	-	–
At 31 March 2026	79	1,441
Amortisation
At 1 April 2025	79	326
Charge for the year	-	272
Eliminated on disposal	-	-
At 31 March 2026	79	598
Net book value
31 March 2025	-	1,115
31 March 2026	-	843
Right-of-use assets Group Company
31 March 31 March 31 March 31 March
Total 31 March 31 March 31 March 31 March	2025	2025
£'000 £'000 £'000 £'000
Balance at 1 April	287	287
Additions to right of use assets	1,079	1,079
Disposals of right of use assets	(852)	(852)
Amortisation charge for the year	(251)	(251)
Amortisation eliminated on disposal	852	852
Balance at 31 March	1,115	1,115
19 Leases (continued)
Lease liabilities
Group Company
31 March 31 March 31 March 31 March
Total 31 March 31 March 31 March 31 March	2025	2025
£'000 £'000 £'000 £'000
Balance at 1 April	415	415
Acquisition of new leases	1,079	1,079
Payment of lease liabilities	(314)	(314)
Interest expense on lease liabilities	37	37
Balance at 31 March	1,217	1,217
Disclosed as
Current	289	289
Non-current	928	928
Total disclosed as	1,217	1,217
Amounts recognised in the income statement
Group Company
31 March 31 March 31 March 31 March
Total 31 March 31 March 31 March 31 March	2025	2025
£'000 £'000 £'000 £'000
Depreciation charge - building lease	236	236
Depreciation charge - IT equipment	15	15
Interest on lease liabilities	37	37
Low value lease rental	180	180
Amounts recognised in statement of cashflows
Group Company
31 March 31 March 31 March 31 March
Total 31 March 31 March 31 March 31 March	2025	2025
£'000 £'000 £'000 £'000
Total cash outflow for leases	(314)	(314)
20 Deferred tax
Deferred tax asset
Group Company
Restated Restated
31 March 31 March 31 March 31 March
Total 31 March 31 March 31 March 31 March	2025	2025
£'000 £'000 £'000 £'000
Opening balance	1,538	1,538
Recognised in statement of comprehensive income	(947)	(947)
Closing balance	591	591

	H2 Mar 26£'000	H1 Sep 25£'000	H2 Mar 25£'000	H1 Sep 24£'000
(Loss)/profit before tax from continuing operations	–	(939)	–	(1,318)
Finance costs	–	37	–	8
Interest received	–	(156)	–	(162)
Government grant income	–	(91)	–	(102)
R&D tax credit income	–	(305)	–	-
Share based payment transactions	–	400	–	400
Depreciation	–	89	–	90
Amortisation	–	2,547	–	2,365
Impairment of intangibles	–	-	–	-
Movement in inventories	–	177	–	(982)
Movement in obsolescence provision	–	(67)	–	268
Movement in trade and other receivables	–	2,632	–	386
Movement in trade and other payables	–	(1,473)	–	(1,020)
Cash inflow / (outflow) generated from operations	–	2,851	–	(67)
Movement in provisions	–	-	–	-
Corporation and foreign tax payments	–	(62)	–	(52)
R&D tax refunds received	–	-	–	-
Net cash inflow / (outflow) from operating activities	–	2,789	–	(119)
Purchase of intangible assets	–	(2,788)	–	(2,620)
Purchase of plant and equipment	–	(79)	–	(20)
Interest received	–	156	–	162
Net cash outflow from investing activities	–	(2,711)	–	(2,478)
Payment of lease obligations	–	(174)	–	(149)
Dividends paid	–	(545)	–	(542)
Share options proceeds	–	32	–	-
Net cash outflow from financing activities	–	(687)	–	(691)
Net (decrease) in cash and cash equivalents	–	(609)	–	(3,288)
Cash and cash equivalents at the beginning of the period	–	10,912	–	11,868
Cash and cash equivalents at the end of the period	–	10,303	–	8,580

	FY Mar 26	FY Mar 25
Revenue to operating profit
Revenue	21.9	18.4
Gross profit	16.6	13.8
Adjusted EBITDA	1.8	1.2
EBITDA	–	5.4
Operating profit	1.0	0.4
Depreciation (owned assets)	0.2	0.2
Amortisation	5.2	4.8
Share-based payments	0.6	0.4
Operating profit to net income
Finance costs	(0.1)	(0.0)
Profit before tax	1.2	0.7
Tax	(0.5)	(0.4)
Net income (owners)	0.7	0.3
Per share
EPS basic	0.8p	0.4p
EPS diluted	0.8p	0.4p
Dividend per share	1.0p	0.9p

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Revenue to operating profit
Revenue	13.8	8.0	11.0	7.4
Gross profit	10.5	6.1	8.3	5.4
Adjusted EBITDA	2.5	(0.7)	2.3	(1.1)
EBITDA	–	1.6	4.4	1.0
Operating profit	2.1	(1.1)	1.9	(1.5)
Depreciation (owned assets)	0.1	0.1	0.1	0.1
Amortisation	2.6	2.5	2.4	2.4
Share-based payments	0.2	0.4	0.0	0.4
Operating profit to net income
Finance costs	(0.0)	(0.0)	(0.0)	(0.0)
Profit before tax	2.2	(0.9)	2.0	(1.3)
Tax	(0.8)	0.2	(0.7)	0.3
Net income (owners)	1.4	(0.7)	1.3	(1.0)
Per share
EPS basic	1.6p	(0.8p)	1.5p	(1.1p)
EPS diluted	1.6p	(0.8p)	1.5p	(1.1p)

	FY Mar 26	FY Mar 25
Operating activities
Cash from operations	5.6	4.4
Tax paid	–	0.6
Investing activities
Capex (PP&E)	(0.1)	(0.0)
Capex (intangibles)	(6.4)	(4.9)
Financing activities
Lease principal paid	(0.4)	(0.3)
Dividends paid	(0.8)	(0.8)
Shares issued	0.0	0.2

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Operating activities
Cash from operations	2.8	2.8	4.5	(0.1)
Tax paid	–	(0.1)	0.7	(0.1)
Investing activities
Capex (PP&E)	(0.0)	(0.1)	(0.0)	(0.0)
Capex (intangibles)	(3.6)	(2.8)	(2.2)	(2.6)
Financing activities
Lease principal paid	(0.2)	(0.2)	(0.2)	(0.1)
Dividends paid	(0.3)	(0.5)	(0.3)	(0.5)
Shares issued	0.0	0.0	0.2	0.0

	FY Mar 26	FY Mar 25
Non-current assets
Goodwill	2.0	2.0
Other intangibles	13.7	12.3
Property, plant & equipment	0.1	0.2
Current assets
Inventories	5.4	5.4
Trade receivables	8.7	5.7
Cash	9.3	10.9
Total assets	41.8	38.8
Current liabilities
Trade payables	8.4	5.9
Lease liabilities, current	0.3	0.3
Non-current liabilities
Lease liabilities, non-current	0.6	0.9
Total liabilities	14.7	12.2
Equity
Total equity	27.1	26.6

	H2 Mar 26	H1 Sep 25	H2 Mar 25	H1 Sep 24
Non-current assets
Goodwill	2.0	2.0	2.0	2.0
Other intangibles	13.7	12.6	12.3	12.5
Property, plant & equipment	0.1	0.2	0.2	0.3
Current assets
Inventories	5.4	5.2	5.4	6.1
Trade receivables	8.7	3.0	5.7	3.0
Cash	9.3	10.3	10.9	8.6
Total assets	41.8	36.0	38.8	34.2
Current liabilities
Trade payables	8.4	4.2	5.9	3.3
Lease liabilities, current	0.3	0.3	0.3	0.1
Non-current liabilities
Lease liabilities, non-current	0.6	0.8	0.9	0.1
Total liabilities	14.7	9.3	12.2	8.0
Equity
Total equity	27.1	26.6	26.6	26.2

Read automatically from each results announcement. Check the source before relying on a figure.

Company filings. Not investment advice.