Thruvision - shares surge on largest ever contract win in Asia
Shares in Thruvision Group (AIM: THRU), the provider of walk-through security technology, have surged by 40% to 0.875p after news of a large, significant contract win.
Thruvision’s technology, which it develops, manufactures and supplies, is deployed in more than 30 countries around the world by government and commercial organisations in a range of security situations where large numbers of people need to be screened quickly, safely and efficiently. The firm’s patented technology is capable of detecting concealed metallic and non-metallic objects in real time using an advanced AI-based detection algorithm.
Last year, the firm concluded a strategic review, under which it considered the possibility of selling off both of its trading subsidiaries (among several other options). However, following a change in senior management, much improved trading, material sales opportunities, and a £2.75 million fundraise, it carried on trading.
£3 million Asian contract win
Building on the successful deployment of multiple WalkTHRU lanes at a major cultural event in South-East Asia last year, the firm’s principal regional partner in Asia has been awarded a contract to deploy Thruvision's technology across multiple major airports in South-East Asia. The deployment supports airport operators' increasing focus on mitigating insider-threat risks alongside traditional passenger screening.
The deployment relates to multiple Thruvision high-throughput people-screening systems and is expected to generate more than £3 million of revenue for the company. This is a significant deal for the firm, and represents half of the £6 million revenues posted for the whole of the last financial year (to end-March 2026). Delivery is expected during the second half of the current financial year, ending 31st March 2027.
Thruvision was keen to point out that this latest deal further validates its strategy of working with trusted regional partners to capture large-scale security opportunities. That seems to be the case as it represents Thruvision's largest deployment in Asia to date, and is the third contract worth more than £1 million that has been won in Asia within the past 14 months. Back in January this year the firm announced a +£1 million deal for the deployment of 20 Thruvision high-throughput people-screening systems for a major international rail-link. That followed a July 2025 +£1 million deal from a new government customer in Asia.
Thruvision sees further opportunities for insider-threat mitigation, which is becoming an increasingly important priority for security operators globally, with its technology also extending beyond aviation into areas including events, prisons, logistics facilities, warehouses and other critical infrastructure.
Thruvision Group 5-year share price chart
After the share price boost this morning Thruvision is now capitalised at £3.9 million. The firm’s cash balance as at 31st March 2026 was £2 million (with no debt) following last year’s £2.75 million equity fundraising. The firm said at the time that the net proceeds would be used for general working capital and to invest in sales, marketing and product development to drive revenue growth. Thruvision has been loss making for many years but the directors believe that the net proceeds will enable the company to achieve cash flow break even during FY2027 on the basis of achieving c. £10 million of revenue for the year. Overall, good progress looks to be being made, but reaching cash flow break even will be critical for the firm.
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Disclosures
Thruvision Group is not a corporate client of Optimo Research Ltd.
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