Business
2024 Final Results
2024 Final Results.
About this update from T42 Iot Tracking Solutions Plc
[{"type":"text","content":"\n\n27 June 2025\nt42 IoT Tracking Solutions plc\n(\"t42\" or the \"Company\")\nFull year results\nt42 IoT Tracking Solutions plc (AIM: TRAC), a global provider of real-time tracking and monitoring solutions for containers, is pleased to announce its audited results for the year ended 31 December 2024.\nFinancial Highlights\n· Revenue of $4.16m (2023: $4.01m), with an increased contribution from the supply chain solutions.\n· Adjusted EBITDA loss of $206,000 (2023: EBITDA gain of $341,000).\n· Gross margin decreased to 38%, due to cost increases in the hardware segment (2023: 53%).\n· Total operating expenses increased to $2.48m (2023: $2.25m).\nOperational and Post-period Highlights\nOf the four major contracts signed in 2024, one is already outperforming expectations. Year-on-year growth in Lokies orders is nearly 100%, and this is expected to have a positive impact on 2025 results. The other contracts are progressing as planned. As previously reported, these contracts represent cumulative potential orders of up to 100,000 units, primarily from customers in Latin America. Subject to full execution and delivery timelines, the contracts are expected to generate approximately $20m in hardware and SaaS revenues over the next three years.\nSince the beginning of 2025, we have seen a significant increase of nearly 100% in purchase orders for both Lokies and Tetis, which will contribute to revenues in the current year.\n \nAvi Hartmann, CEO of t42, commented:\n\"We offer a comprehensive, cutting edge, technological solution for monitoring and securing containers, effectively addressing a critical challenge in maritime, land transportation and air cargo. Our solution guarantees reliability, security, and economic feasibility while significantly reducing implementation time and accelerating return on investment for our customers. We are actively pursuing business opportunities in key markets such as South and North America, evident from recent agreements signed and the substantial business potential they represent.\nI would like to express, on behalf of the Board and myself, our sincere gratitude to Igor Vatenmacher, who stepped down as CFO in April this year. Igor's drive and determination has greatly helped to guide T42 through challenging times in the ...