Thruvision Group - three new deals to add to the growing order book
More good news from walk-through security technology company Thruvision Group (AIM: THRU), which has announced three further orders across its key target markets for its 81 Series product. Designed for use in all markets, the 81 Series is the latest generation of Thruvision’s people screening technology.
The deals are:
UK Retail Distribution: A WalkTHRU screening lane for deployment at a UK distribution centre operated by a major UAE-headquartered global logistics provider, following a successful two-week proof of concept. This customer has previously purchased Thruvision equipment for a distribution centre in Europe.
UK Prisons: A SpotCHECK solution for deployment by a privately run UK prison, following a one-week proof of concept, further supporting Thruvision’s focus on the UK Prisons and Corrections market.
Asian market expansion: A SpotCHECK solution purchased by the Group’s Asian partner for deployment in a new Asian country, extending the geographical reach of Thruvision’s technology.
These orders are said by the company to represent further progress across three important areas of its strategy. The order for the major logistics provider demonstrates the continued opportunity to deploy technology in high-throughput distribution environments, while the prison order reinforces the relevance of its screening solutions within the Prisons and Corrections market. The purchase by the Asian partner also represents a further step in the international development of the business, extending to an additional national market for Thruvision’s technology.
The business
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, Thruvision 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.
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Comment
These wins follow a recent trading update from Thruvision, in which the company said it earned revenue of £2.6 million in the first half to September 2026, flat on H1 last year and in line with expectations. Full year revenue expectations remain unchanged at £8.0 million. Cash as of 9th October 2026 was said to be £1.6 million, down from £2 million as at 31st March.
More positively, the order backlog has increased significantly, standing at £2.6 million at the period end, up from £1.3 million six months previously and just £0.2 million at the same stage last year. The firm flagged that this provided good revenue visibility for the second half of FY2027 during which the backlog is expected to be delivered.
Thruvision share price performance in 2026 to date
Shares in Thruvision hit an 18-month high of near 3p last month but following a pull-back currently trade at 1.9p. The company is now capitalised at £8.5 million, with the recently announced cash position covering 19% of that.
At the time of last year’s £2.75 million fundraise, the firm said that the net proceeds would enable it to achieve cash flow break-even during FY2027 on the basis of achieving c.£10 million of revenue for the year. With the recent H1 trading update confirming expectations for £8 million of revenue, it looks like break-even might have to wait until FY2028. Overall, it looks like good progress is being made, but reaching cash flow break-even remains critical for the firm.
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Disclosures
Thruvision is not a corporate client of Optimo Research Ltd.
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