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Tantalus Systems Holding Inc. Reports Third Quarter 2025 Financial Results
Burnaby, British Columbia--(Newsfile Corp. - November 12, 2025) - Tantalus Systems (TSX: GRID) (O...
About this update from Tantalus Systems Holding Inc
[{"type":"text","content":"Tantalus Systems Holding Inc. Reports Third Quarter 2025 Financial ResultsBurnaby, British Columbia--(Newsfile Corp. - November 12, 2025) - 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 September 30, 2025.All amounts presented in this news release are in United States dollars (\"U.S. dollars\") and all amounts presented in the attached financial tables are in thousands of U.S. dollars, unless otherwise noted.Q3 2025 FINANCIAL HIGHLIGHTSRevenue: The Company delivered revenue of $14.2 million, reflecting 22.5% year-over-year growth and setting a new high-water mark for revenue generated during the third quarter of a fiscal year. Revenue from Connected Devices and Infrastructure (\"Connected Devices\") increased by $2.2 million or 30% and Utility Software Applications & Services (\"Software and Services\") revenue increased by $0.5 million or 10%. The increases in revenue are a result of higher sales volumes to new and existing utility customers. Recurring Revenue1 was $3.4 million and represented 24% of total revenue in the quarter. Annual Recurring Revenue (\"ARR\")[1] Growth: ARR1 grew by 11% year over year to $13.5 million as of September 30, 2025 (September 30, 2024: $12.2 million). Gross Profit Margin1: The Company continued to deliver strong Gross Profit Margin1 at 55% which includes the impact of tariffs on Connected Devices. Net Income: The Company generated net income for the period of $384,000 reflecting an improvement on a comparative basis from the prior year period loss of $361,000. Diluted Income per Share: Diluted income per share was $0.01, compared to the diluted loss per share of $0.01 generated in the prior year period. Adjusted EBITDA1: The Company delivered positive Adjusted EBITDA1 of approximately $1.2 million, reflecting an improvement compared to $585,000 in the prior year period.Cash Flow from Operating Activities: Cash Flow from Operating Activities was negative $1.3 million compared to negative $0.9 million in the prior year. Cash Flow from Operating Activities typically declines during the third quarter due to lower deferred revenues. In addition, investment...