H1 2026 Trading Update

Power Probe ("Power Probe" or the "Group"), a leading producer of automotive electrical diagnostic tools for professional service technicians, today issues a trading update for the six-month period ended 30 June 2026 ("H1 2026") ahead of its unaudited half year results scheduled for release on Monday 14th September 2026.

H1 trading

• Revenue of $17.7m (H1 2025: $21.2m), reflecting the timing of new product launches, with FY 2026 revenue weighted towards the second half of the year, consistent with previous guidance.
• Gross margin of 50.4% (H1 2025: 40.8%) driven by an increased mix of Power Probe branded products and higher-margin private brands business, alongside current year pricing initiatives which have been well absorbed by the market.
• Adjusted EBITDA 1 of $3.8m (H1 2025: $5.5m) and adjusted EBITDA margin of 21.7% (H1 2025: 26.1%). Adjusted EBITDA includes c.$550k of additional costs incurred during the year in relation to ongoing public company expenses that were not incurred in the prior year. Excluding these additional costs, the adjusted EBITDA margin would have been 24.8%.

Outlook

Underlying trading continues to be encouraging, with the momentum in new product sales established during FY25 carrying into the current year. Significant product launches in late H1 2026 are expected to contribute materially to revenue in the second half of the year.

The Group continues to see robust demand for its existing Power Probe branded products and remains confident in the commercial opportunity presented by its expanding pipeline of new products as these are launched throughout the remainder of the year.

Looking beyond FY 2026, the Group continues to see significant opportunities to deliver both revenue growth and margin expansion through its investment in manufacturing capability at its Charlotte, N.C. facility. This investment is expected to strengthen the Group's product innovation pipeline while expanding production capacity closer to the Group's largest end market.

Chema Garcia, Chief Executive Officer, commented:

"We are pleased with our performance in the first half of 2026. Trading was in line with expectations and gross margins improved significantly, reflecting the strength of the Power Probe brand, a favourable product mix and disciplined pricing.

The momentum we generated from new products during FY25 has continued into 2026, and we expect the significant product launches in late H1 to make an important contribution during the second half of the year. Together with resilient demand for our core product portfolio, this gives us confidence in our outlook for the remainder of the year.

We remain focused on executing our strategic priorities by accelerating product innovation, expanding our addressable market and progressing our investment in Charlotte, N.C. This investment will enhance our manufacturing capability and support our long-term strategy of bringing production closer to our largest market in the US."

1 Adjusted EBITDA is a non-GAAP measure defined as EBITDA (operating profit before depreciation and amortisation) adjusted to exclude non-underlying, non-recurring items, specifically IPO related expenses, one-off litigation costs and IFRS 2 share-based payment charges.