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Thruvision Group plc announced on 2 July 2025 that it secured a material contract for 20 systems, valued in excess of £1 million, from a new government customer in Asia, with delivery scheduled for the next few weeks. Order intake for Q1 FY26 (ended 30 June 2025), including this contract, was £2.3 million, representing a 145% increase on the same period in the prior year. The Group's cash resources are now expected to be sufficient until the end of the calendar year, revising the 23 June 2025 expectation of lasting until the end of September 2025.
| Date | 2 Jul 2025 |
| Time | 07:00:05 |
| Category | Trading updates |
| ID | 3083P |
2 July 2025
Material contract award and trading update
The Board of Thruvision Group plc (AIM: THRU) (the "Company", "Thruvision" or, together with its subsidiary undertakings, the "Group"), the leading international provider of walk-through security technology, announces a material contract award and provides an update on current trading and the Group's cash position.
Contract win
The Group is pleased to announce that it has secured a material contract for 20 systems, valued in excess of £1 million, from a new government customer in Asia (the "Contract"). The Contract was secured through close collaboration with the Group's regional partner and builds on the recent successful deployment of multiple WalkTHRU screening lanes at a major cultural event in Asia. The order is for Thruvision's highest specification systems and is scheduled to be delivered during the next few weeks. It underscores growing demand for the Group's advanced security solutions in high-profile government applications. This contract resulted from one of the "Material Opportunities" referred to in previous announcements.
Current Trading
Order intake for the first quarter of FY26 ended 30 June 2025, including the Contract detailed above, was £2.3 million, an increase of 145% on the same period in the prior year. This strong performance is in line with the Board's expectations for the quarter. The Group's sales pipeline has a number of Material Opportunities in Asia and other regions which the Board is confident will convert to revenue during both the current and next financial year. The Group's US business has also traded well, with a number of repeat unit purchases from existing Retail Distribution customers. In addition, the Group was awarded its first contract to provide a unit to a UK prison, following on from the ongoing success in a European prison service.
Cash Position
On 23 June 2025, the Board announced that, at that time, its reasonable expectation was that the Group's cash resources would last until the end of September 2025.
Given the recent encouraging trading performance and the continued strength of the sales pipeline, including both smaller and more material opportunities, the Board now considers that the Group's cash resources will be sufficient to last until the end of the calendar year, although this is dependent on future trading performance and conversion of the sales pipeline in line with the Board's reasonable expectations.
For further information, please contact:
Tom Black, Executive Chairman +44 (0)1235 425400
Victoria Balchin, Chief Executive Officer
Patrick Robb / James Rudd / Sebastian Lawrence +44 (0)20 7597 5970
About Thruvision (www.thruvision.com)
Thruvision is the leading developer, manufacturer and supplier of advanced AI-based walk- through security technology internationally. Its technology is deployed in more than 30 countries around the world by government and commercial organisations in a wide range of security situations, where large numbers of people need to be screened quickly, safely and efficiently. Thruvision's patented technology is uniquely capable of detecting concealed objects in real time using advanced AI-based detection algorithms. The Group's offices are near Oxford and Washington DC.
This announcement may include statements that are, or may be deemed to be, 'forward-looking statements' (including words such as 'believe', 'expect', 'estimate', 'intend', 'anticipate' and words of similar meaning). By their nature, forward-looking statements involve risk and uncertainty since they relate to future events and circumstances, and actual results may, and often do, differ materially from any forward-looking statements. Any forward-looking statements in this announcement reflect management's view with respect to future events as at the date of this announcement. Save as required by applicable law, the Company undertakes no obligation to publicly revise any forward-looking statements in this announcement, whether following any change in its expectations or to reflect events or circumstances after the date of this announcement.