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Tantalus Systems (TSX: GRID) (OTCQX: TGMPF), a technology company focused on utility grid modernization through data solutions, has announced it will release its Q1 2025 financial results on May 7, 2025, after market close.
The company will host a conference call and webcast to discuss the results on May 8, 2025, at 12:00 pm Eastern Time. A replay of the conference call will be available until May 15, 2025.
Tantalus provides utilities with a grid modernization platform that includes intelligent connected devices, communications networks, data management, enterprise applications, and analytics solutions, enabling utilities to optimize their existing infrastructure investments while planning for future requirements.
Tantalus Systems (TSX: GRID) (OTCQX: TGMPF) has announced a strategic partnership with Reading Municipal Light Department (RMLD), a Massachusetts municipal electric utility, to modernize their distribution grid. The implementation centers on the Tantalus Grid Modernization Platform (TGMP), which will transform RMLD's infrastructure into a multi-directional grid.
The partnership will integrate connected devices, communications networks, grid data management, applications, and analytics. Key components include the TRUSync Grid Data Management System for automated data integration and the TRUSense Cellular Gateway for supporting distributed energy resources (DERs) and electric vehicles.
This modernization initiative aims to enhance reliability, lower costs, and increase non-carbon energy usage. The system will provide improved visibility, command, and control across the grid while ensuring seamless integration of Information Technology (IT) and Operational Technology (OT) systems.
Tantalus Systems (TGMPF) reported strong Q4 2024 and full-year financial results, achieving record revenue and positive Adjusted EBITDA. Q4 revenue increased 21% year-over-year to $12.6 million, with Software revenue up 36% and Connected Devices revenue up 14%. The company maintained a 24% recurring revenue ratio and improved gross profit margin to 52.4%.
For full-year 2024, Tantalus delivered $44.3 million in revenue, representing 5.1% growth. Annual Recurring Revenue grew over 10% to $12.7 million, while gross profit margin increased 200 basis points to 54%. The company added a record 31 new utility customers and converted $51.2 million in sales orders, up 46% year-over-year.
Notable developments include completing a $7.3 million bought deal financing, certifying three TRUSense Gateway variants, and expanding available liquidity to $18.0 million by year-end 2024, compared to $5.2 million in 2023.
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