Thruvision shares tumble as full-year loss widens amid lower revenue

(Alliance News) - Thruvision Group PLC on Friday reported a "difficult" trading period, with its top line contracting as larger opportunities in its sales pipeline were not converted.

The Abingdon, England-based provider of walkthrough people-screening technology reported a pretax loss of GBP4.7 million for the financial year to March 31, widening from GBP3.0 million a year earlier.

Driving the weaker bottom line was a reduction in revenue, as Thruvision's top line contracted 47% to GBP4.2 million from GBP7.8 million. The company said the reduction reflects the lack of "material orders", valued at GBP3.4 million the prior year.

"The GBP4.2 million revenue achieved was the lowest since 2021 and was a great disappointment. Although the sales pipeline contained numerous larger opportunities, these were not brought to a successful conclusion within the period," said Chair Tom Black.

Shares in Thruvision were 18% lower at 1.39 pence on Friday morning in London.

Thruvision reported a cash balance at March 31 of GBP400,000, down 90% from GBP4.1 million, with this decline driven by an operating cash outflow of GBP4.5 million.

"FY26 has started well and revenue at this point is well ahead of last year. Sales activity is also high although conversion of sales leads to revenue has slowed over the summer months. The increased focus on border security globally is being reflected in our pipeline, including renewed dialogue with US Customs & Border Protection. Retail Distribution is also very active and we have a number of exciting opportunities here too. As a result, the board believes it remains on track to achieve significant revenue growth this year," added Black.

By Christopher Ward, Alliance News reporter

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