**Summary**
T42 IoT Tracking Solutions PLC, a global provider of real-time tracking and monitoring solutions for containers, reported its audited results for the year ended December 31, 2025. The company experienced significant growth, with revenue increasing by 47% to $6.10 million, driven by a strong performance in the supply chain solutions segment. Adjusted EBITDA improved to a gain of $1.23 million, and gross margin increased to 46%, primarily due to cost reduction in the hardware segment. Total operating expenses remained stable at $2.45 million. Cash and cash equivalents increased to $0.57 million, and working capital improved by $2.3 million.
Operational highlights include continued solid performance across four contracts secured in 2024, with one contract outperforming expectations. The company also saw strong order growth, particularly for its Lokies and Tetis products, with year-on-year increases of 150% and 100%, respectively. Technological improvements have enhanced reliability, scalability, and interoperability across product families, positioning the company to support larger fleets and device volumes.
CEO Avi Hartmann emphasized the companys clear path towards sustained profitability, enhanced product base, and broader target customer base. The company has entered into new distribution agreements and has several agreements and trials in the pipeline, which are expected to significantly enhance sales orders.
Financial highlights for 2025 include a 47% increase in group revenues to $6.10 million, a gross margin increase to 46%, and a substantial improvement in operating profit to $0.37 million. The company also reported a decrease in trade receivables and inventory, and an increase in cash flow from operations to $0.42 million.
Looking ahead, T42 is focused on expanding its market presence, particularly in Europe, North America, and South America, and entering the B2C market. The company aims to leverage its technology and strategic partnerships to lead the next wave of innovation in the container tracking industry.
| Financial Metric | 2024 | 2025 | Change |
|---|---|---|---|
| Revenue | $4.16m | $6.10m | +47% |
| Adjusted EBITDA | Loss of $0.21m | Gain of $1.23m | N/A |
| Gross Margin | 38% | 46% | +8% |
| Total Operating Expenses | $2.48m | $2.45m | -1% |
| Cash and Cash Equivalents | $0.15m | $0.57m | +280% |
| Working Capital | Negative $4.18m | Negative $1.87m | +55% |
| Debt (Long-term bank loans + Amortized cost of loans) | $13k + $0 | $0 + $2.059m | N/A |