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Tantalus Systems Holding Inc. Reports First Quarter 2026 Financial Results
Burnaby, British Columbia--(Newsfile Corp. - May 6, 2026) - Tantalus Systems (TSX: GRID) (OTCQX: ...
About this update from Tantalus Systems Holding Inc
[{"type":"text","content":"Tantalus Systems Holding Inc. Reports First Quarter 2026 Financial ResultsBurnaby, British Columbia--(Newsfile Corp. - May 6, 2026) - Tantalus Systems (TSX: GRID) (OTCQX: TGMPF) (\"Tantalus\" or the \"Company\"), a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data, is pleased to announce its financial and operating results for the three-month period ended March 31, 2026.All amounts presented in this news release are in United States dollars (\"U.S. dollars\"), unless otherwise indicated.Q1 2026 FINANCIAL HIGHLIGHTSRevenue: Revenue increased by approximately 27% year-over-year to $15.1 million. Revenue from Connected Devices and Infrastructure (\"Connected Devices\") increased by $2.6 million or 33% and Utility Software Applications and Services (\"Software and Services\") revenue increased by $0.6 million or approximately 14%. The increases in revenue were a result of adding new customers, commencing larger shipments of the TRUSense Gateway™ and continuing to expand deployments with existing accounts. Recurring Revenue1 increased by 17% to $3.6 million and represented 24% of total revenue in the quarter.Gross Profit and Gross Profit Margin: Gross Profit improved by 21% to $7.9 million from the prior year with contributions from both operating segments. Overall Gross Profit Margin, on a consolidated basis, decreased to 52.3% due primarily to the impact of tariff recoveries included in revenue in the current period and product mix within the Connected Devices segment while margins from the Software and Services segment remained in line with the same period last year. Excluding the impact of tariff recoveries included in revenue, the Gross Profit Margin was 55.1%.Annual Recurring Revenue (\"ARR\")1 Growth: ARR1 grew by over 15% year-over-year to $14.8 million as of March 31, 2026 (March 31, 2025: $12.8 million).Loss and Loss Per Share: Loss for the period was $405,000 compared to a loss of $651,000 for the same period last year, representing a diluted loss per share of $0.01 for both periods.Adjusted EBITDA: The Company delivered Adjusted EBITDA1 of $750,000, reflecting an improvement compared to $317,000 in the prior year period.Cash Flow from Operating Activities: The Company generated positive Cash Flow from Operating Activities of approximately $4.7 ...