Thruvision revenue falls, pipeline expands as it seeks suitor
By Josh White
Date: Monday 07 Apr 2025
(Sharecast News) - Thruvision Group reported a decline in revenue for the year ended 31 March on Monday, with total income expected to be £4.4m, down from £7.8m in the prior year.
The AIM-traded screening and security technology company noted strong performance in its retail distribution segment, where revenue rose 55% to £3m and accounted for 61% of total sales, although that was offset by reduced contributions from its customs and entrance security business lines.
All revenue in the 2025 financial year was derived from smaller individual orders under £0.5m, with none coming from the 'material opportunities' flagged in January.
Thruvision said those larger potential deals, now valued at £18m compared with £15m earlier in the year, remained in the pipeline but were yet to be converted into signed purchase orders.
The firm said 58% of 2025 revenue came from existing customers, providing a stable base for future growth.
It said it ended the financial year with a cash balance of £0.4m and trade receivables of £1.5m.
The company had no debt beyond a £0.5m lease liability and access to an undrawn £0.95m overdraft facility, which expires at the end of May.
Based on current projections, cash resources were expected to last through to the end of June.
Thruvision also provided an update on its ongoing strategic review, launched in January.
The board said one discussion with an interested party remained active, adding that it had recently initiated talks with a second group of potential acquirers or funders.
While the board said it remained hopeful of a favourable outcome, it cautioned that there was no certainty any transaction would materialise.
At 0920 BST, shares in Thruvision Group were up 3.1% at 1.5p.
Reporting by Josh White for Sharecast.com.
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