Thruvision Group, the AIM-listed provider of walk-through people-screening technology, reported revenue of £6.0 million for the year ended 31 March, up from £4.2 million a year earlier, with the bulk of growth driven by two material contract wins in Asia totalling £2.7 million.
The adjusted EBITDA loss narrowed to £2.5 million from £3.8 million, in line with market expectations, helped by a £1.0 million reduction in overheads, while the operating loss improved to £3.6 million from £4.7 million.
Gross margin contracted, however, with adjusted gross margin falling 11.0 percentage points to 33.9% as the company discounted legacy equipment to clear inventory and free up working capital ahead of its newer 81 Series product line.
Cash at the year-end stood at £2.0 million, up sharply from £0.4 million at 31 March 2025, supported by the July 2025 oversubscribed fundraise of £2.75 million gross alongside improved trading.
"A good order backlog and increased sales momentum give us confidence for FY27," said Executive Chairman Tom Black, adding that the board expects "further strong growth" from a mix of material project wins and a recovery in smaller contract awards.
An order backlog of £1.3 million at year-end is expected to be delivered in the first half of the current financial year, with the company also citing further material pipeline opportunities in Asia across its Entrance Security and Aviation divisions.
