EARNINGS AND TRADING: Nexteq warns full-year revenue to miss consensus

Thu, 21st May 2026 18:36

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

----------

Nexteq PLC - Cambridge, England-based technology solutions provider to industrial markets - Expects revenue for 2026 to be approximately 15% below market expectations, citing the current consensus as USD85.0 million. Consensus also forecasts USD4.8 million in adjusted earnings before interest, tax, depreciation and amortisation, and USD2.0 million in adjusted pretax profit. Nexteq warns that the revenue fall will have "a consequential impact on adjusted profit before tax." Adds, however, that it expects current gross margin performance to continue throughout the year. Says it remains "strongly focused" on cost management, and that it "continues to navigate a challenging trading environment, with global geopolitical uncertainty impacting customer confidence." Says the lower revenue forecast is due to "continuing uncertainty" affecting its Quixant business, which serves the land-based gaming market. Nexteq expects Quixant revenue to fall below previous forecasts, citing the impact of US tariffs and "higher costs for critical memory and storage components," both factors driving softer order coverage. Its Densitron business, which serves targeted verticals in the industrial market, remains on track to report annual growth despite "challenges with specific customer demand". Says it remains confident in its ability to return to growth in 2027.

----------

Software Circle PLC - Manchester, England-based vertical market software investor - Enters new GBP25.0 million revolving credit facility, with a GBP10.0 million uncommitted accordion option, with Santander UK PLC. Says it has used GBP10.7 million of this facility, which has a four-year term with a one-year extension option, to redeem its pre-existing borrowing facilities with Shawbrook Bank Ltd. Company also releases a trading update, saying it "delivered another year of strong progress". Revenue for the year ended March 31 rises 22% to approximately GBP22.3 million from GBP18.3 million the previous year, although organic revenue declines by 1% on-year. Software Circle expects to report organic operating Ebitda growth of 19%, with total operating Ebitda rising 58% to GBP7.6 million from GBP4.8 million and the margin improving to 34% from 26%. Also expects operating cash flow per share, its "primary long-term measure", to more than double to 1.0 pence from 0.5p. Currently generates annualised revenue of approximately GBP25.0 million at an adjusted Ebitda margin of 27%, on a run-rate basis and before any further mergers & acquisitions, and reports a cash balance of around GBP4.6 million. On the new facility, Chief Executive Officer Gavin Cockerill says: "With the Group now at greater scale, the time is right to move to a more flexible facility, reducing our cost of capital and providing the headroom to continue our strategy to acquire and operate vertical market software businesses in the UK and Ireland." Company adds that the facility will help it towards its 'Gate 5' target of GBP15 million in annualised adjusted Ebitda.

----------

Seascape Energy Asia PLC - Southeast Asia-focused exploration and production company - Reports continuing pretax loss of GBP4.2 million for 2025, narrowed from GBP5.7 million for 2024. Other income decreases to GBP202,053 from GBP934,570, while administrative expenses fall to GBP4.6 million from GBP6.7 million. Cash balance was GBP6.3 million as of December 31, up from GBP2.8 million one year prior. Swings to net profit for the year of GBP5.4 million from a GBP16.4 million loss, "reflecting the proceeds from the farm down of the company's interest in the Block 2A PSC." Says priorities include progressing the Temaris Cluster and DEWA assets to FDAP submission this year, with first gas expected in 2028. Seascape also intends to continue building out its existing acreage position in Malaysia, and to bring a strategic partner into Temaris within the current half-year.

----------

Hardide PLC - Bicester, England-based surface treatment technology firm - Reports "a record performance" as revenue for the six months ended March 31 totals GBP4.8 million, up 71% from GBP2.8 million the year before. Ebitda more than quadruples to GBP1.6 million from around GBP400,000. Hardide says the revenue rise was driven by sustained new business momentum, which included "major contract wins with a leading North American energy customer." Swings to pretax profit of GBP1.2 million from a loss of around GBP100,000. Looking ahead, Hardide expects to deliver full-year results "in line with its recently upgraded expectations" as recent trading and order intake remain "strong", and it "remains on track to deliver its initial strategic milestone of doubling revenues, significantly faster than originally expected, from the original base line level set in 2024." Company is also "well positioned to drive further significant profitable growth from the ongoing commercialisation of its unique surface treatment technology." CEO Matt Hamblin comments: "I am delighted to report a record first half performance, with strong revenue growth and a meaningful improvement in profitability driven by a combination of new contract wins and better capacity utilisation across the group."

----------

Newmark Security PLC - London-based security and workforce management company - Expects group revenue for the year ended April 30 to be no less than GBP26 million, rising by over 13% from GBP23 million the year before. HCM revenue rises 27% to GBP19.5 million, while operating profit growth exceeds 30%, with HCM North America revenue rising 43% to GBP14.1 million. HCM annualised recurring revenue increases 8% to GBP3.9 million as of April. Newmark says it is in exclusive negotiation for the sale of Safetell, following a strategic review during the year. Meanwhile, CEO Marie-Claire Dwek says: "We are excited by the immediate outlook for FY27 and have invested in people and systems to support HCM's growth. HCM's sales pipeline is growing and we have ensured good levels of microchips and product in stock, enabling us to deliver on customer demand." Company expects its investment in HCM "to drive further growth in FY27," and says it holds "a good level of microchips and components". Consequently, it "currently sees no issues with fulfilling orders" despite the Middle East conflict and global semiconductor supplies increasingly going to data centres.

----------

GenIP PLC - London-based generative AI services provider - Enters a 12-month framework agreement with "a leading Hong Kong research university", which it says will enable portfolio-level evaluations of up to 10 technologies per order. The university will place orders as required, and the agreement has the option of renewal for a further year. GenIP says the deal is valued at approximately USD20,000 per year, with potential for additional work beyond its initial scope. It has also won a first-time deal with "a well-established modern university in London," for an initial order covering 10 reports. Says further repeat orders are likely. Additionally, "one of Canada's leading research universities" has become the firm's first Canadian client; it has won an order from "one of North America's leading public research universities"; and an also unnamed "South African client" has deployed its new Invention Validator product, with this contract valued at approximately USD14,500 for a single technology evaluation. GenIP also says it will release its full-year results within the next two weeks.

----------

TruFin PLC - London-based holding company of three technology businesses operating in early payment provision, invoice finance and mobile games publishing - Agress to sell its 84.5% stake in Playstack Ltd to VantageCo Ltd for net cash proceeds receivable of approximately GBP112.4 million. Says VantageCo is a subsidiary of Integrated Media Co LLC (Cayman), of the Integrated Media Co group. Says the sale represents an enterprise value for Playstack of GBP125 million on a debt free, cash free, normalised working capital basis. Net proceeds include Playstack repaying a GBP15.6 million loan to TruFin Holdings. Disposal is dependent on shareholder approval at a general meeting, at which TruFin recommends voting in favour. Says it plans to return GBP70 million to shareholders following completion of the sale, and has proposed a tender offer at 140p per share following talks with major shareholders. "We believe the disposal of Playstack represents a milestone for TruFin and a clear demonstration of our disciplined approach to capital allocation and value creation," says CEO James van den Bergh.

----------

By Emma Curzon, Alliance News reporter

Comments and questions to newsroom@alliancenews.com