**Summary**
Renishaw PLC, a global provider of manufacturing technologies, released its Q1 FY2026 trading update for the period ending September 30, 2025. The company reported a steady start to the fiscal year despite mixed market conditions, with key highlights as follows
1. **Revenue Performance**
Total revenue was £170.8 million, 1.8% lower at actual exchange rates but 2.8% higher at constant currency rates compared to Q1 FY2025.
Industrial Metrology (IM) revenue grew by 3.4% at constant rates, driven by strong demand for 5-axis CMMs and shop-floor gauging systems.
Position Measurement (PM) revenue increased by 2.2% at constant rates, with growth in open optical encoders and emerging enclosed encoders.
Specialised Technologies (ST) revenue rose by 1.0% at constant rates, with higher sales of metal additive manufacturing (AM) systems compared to recent quarters.
2. **Regional Performance**
Americas and APAC saw strong growth (11.2% and 14.7% at constant rates, respectively), driven by improved demand for CMM systems, AM systems, and PM products.
EMEA revenue declined by 20.5% at constant rates due to weak demand for IM sensors and laser encoders, compounded by the implementation of a new sales ERP system.
3. **Strategic Initiatives**
Launched new products, including the Equator-Xâ„¢ shopfloor gauge, MODUSâ„¢ IM Equator software, XK20 alignment laser system, and NC4+ Blue laser tool setting system, all receiving positive market reception.
Completed a £20 million operating cost reduction program, reducing headcount by 6.5% (350 employees) by the end of September 2025.
Progressing the closure of the non-core neurological drug delivery business, expected to conclude in Q2 FY2026.
4. **Outlook**
Renishaw expects steady revenue growth in FY2026, supported by structural market drivers and growth opportunities across its businesses, despite global uncertainties.
The update emphasizes Renishaw’s focus on innovation, cost efficiency, and strategic realignment to drive future growth.