t42 IoT Tracking Solutions Sees Strong Growth Ahead Despite Flat 2024 Revenues
Why we think this is good
The RNS indicates that t42 IoT Tracking Solutions PLC's total revenues for FY 2024 remained consistent with the previous year at around $4.0 million. However, the company is now seeing clear indicators of strong growth ahead, with increasing momentum in sales of its flagship Lokies and Tetis technologies, as well as other IoT offerings. The company's strategic focus on the global shipping container market, expansion into new markets, and collaboration with global shipping leaders position it for transformative growth starting in 2025. While the departure of the CFO is a notable change, the company has plans in place to ensure a smooth transition. Overall, the RNS paints a positive picture of the company's future prospects, despite the flat revenues in the most recent financial year.
Key Points
- Total revenues for FY 2024 expected to be around $4.0 million, consistent with the previous year
- Increasing momentum in sales of flagship Lokies and Tetis technologies, as well as other IoT offerings
- Strategic focus on the global shipping container market, with expansion into new markets such as Latin America and the U.S.
- Collaboration with global shipping leaders to deliver tailored, innovative solutions
- CFO to step down, but will remain on the board in a non-executive position to support the transition period
Summary
t42 IoT Tracking Solutions PLC (AIM: TRAC) reported total revenues for FY 2024 of approximately $4.0 million, consistent with the previous year. However, the company is now seeing clear indicators of strong growth ahead, with increasing momentum in sales of its flagship Lokies and Tetis technologies, as well as other IoT offerings. The company's strategic focus on the global shipping container market, expansion into new markets, and collaboration with global shipping leaders position it for transformative growth starting in 2025. The company's CFO has informed the board of his intention to step down, but he will remain on the board in a non-executive position to support the transition period.