AGM Statement and Trading Update

596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018.

Transense Technologies plc

("Transense", the "Company" or the "Group")

AGM Statement and Trading Update

Transense Technologies plc, the provider of specialist sensing solutions and measurement systems, announces the following trading update for the first four months of the financial year ending 30 June 2025 (the "Period") ahead of its Annual General Meeting ("AGM") to be held at 3:30pm today.

Trading Update

Overall revenues in the Period were 48% higher than the corresponding period last year. The contribution to revenue from Bridgestone iTrack increased by 23%, and revenues from the combined ongoing trading operations of Translogik and SAWsense more than doubled. Gross margins were consistent with the prior year at more than 85% of revenue.

The net profit for the Period increased by approximately 10% when compared with the corresponding period last year, reflecting the costs added in preparation for scale-up of both Translogik and SAWsense businesses. The total headcount of the Company now exceeds 30 people, compared with 18 a year ago.

The move to bring Translogik production in-house has been completed successfully without any significant disruption, delivering the anticipated benefits in efficiency, quality and unit costs. Engineering resource has been added to provide improved customer support, ongoing product improvements, and extend the current range to cover new applications and sectors of the market. Furthermore, the new partnership with Tiretask to provide a software platform for customers in conjunction with the TLGX range will provide the opportunity to offer a complete solution on a subscription basis, rather than the sale of hardware only, with a healthy pipeline of customer trials of this new solution ongoing.

SAWsense participation in the Airbus LandOne and Protean PULSE collaborative R&D projects is now well underway, alongside other customer funded development projects. In addition to these activities, the Company continues to see a healthy level of incoming enquiries for its sensing technology from well-known multinational customers. To meet this demand, the Company has recruited additional qualified and experienced team members including a quality and manufacturing manager, engineers and technicians, and is currently recruiting an Operations Director for SAWsense who will report to the Managing Director.

Trading continues to be cash generative, and the net available cash balance at 31 October 2024 stood at £1.72m (30 June 2024: £1.28m).

Taking all of these factors into account, the Directors believe that the Company is well placed to achieve results at least in line with market expectation for the current year, and are optimistic of prospects thereafter.

Online access to the AGM

Shareholders that wish to attend the online AGM should register for the event in advance by using the following link: https://www.investormeetcompany.com/transense-technologies-plc/register

Find out more at: https://www.transense.com/