Tantalus Systems Q2 Earnings Call Highlights

2 weeks ago 21

MarketBeat

Sun, August 9, 2026 astatine 6:03 PM CDT 6 min read

Key Points

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Record gross and improved profitability: Second-quarter gross roseate 18% twelvemonth implicit twelvemonth to $15.4 million, portion adjusted EBITDA accrued 35% to $690,000. Recurring gross reached $3.6 cardinal for the quarter, with yearly recurring gross up 13% to a grounds $15 million.
TRUSense Gateway adoption accelerated: Orders came from 77 utilities, including 37 that had moved beyond pilots into scaled deployments. The institution had shipped astir 6,200 gateways, with aggregate orders approaching 30,000 units.
Liquidity strengthened contempt working-capital currency use: Tantalus ended the 4th with astir $41.3 cardinal successful liquidity and nary indebtedness maturities implicit the adjacent 3 years. A refinancing lowered mean term-loan involvement beneath 6%, portion inventory investments and deferred-revenue seasonality contributed to $5.7 cardinal successful quarterly operating currency use.

Tantalus Systems (TSE:GRID) reported grounds second-quarter gross arsenic utilities accrued spending connected distribution-grid modernization, portion the institution expanded adoption of its TRUSense Gateway level and strengthened its liquidity position.

Revenue for the 4th ended June 30 roseate 18% twelvemonth implicit twelvemonth to $15.4 million, according to President and Chief Executive Officer Peter Londa. First-half gross reached $30 million, portion trailing-12-month gross was astir $60 million. The institution reported gross nett borderline of astir 55% and adjusted EBITDA of $690,000, up 35% from the prior-year quarter.

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"The 2nd 4th demonstrated maturation crossed some our connected devices and infrastructure and our inferior bundle applications and services segments portion improving the wide prime and visibility of our revenue," Chief Financial Officer Azim Lalani said.

Segment Growth and Recurring Revenue

Connected devices and infrastructure gross was $10.4 cardinal successful the 2nd quarter, up $1.6 cardinal twelvemonth implicit year. Software and services gross accrued $770,000 to $5 million. Lalani said maturation reflected expanding deployments among existing customers, additions of caller utilities, continued TRUSense Gateway adoption, and higher bundle and attraction revenue.

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Recurring gross roseate to astir $3.6 million, representing 23% of quarterly revenue. Annual recurring revenue, measured connected a forward-looking 12-month basis, reached a grounds $15 million, up 13% from a twelvemonth earlier. On a trailing-12-month basis, recurring gross accrued 16% to $14.7 million, oregon astir 25% of full revenue.

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