Thruvision - shares hit an 18-month high after contract wins keep coming
Shares in walk-through security technology company Thruvision Group (AIM: THRU) are at the top of the daily leaderboard again after the markets continue to react to the spate of recent newsflow. As we write, the shares are up 23% on the day to trade at 2.15p, a near 18-month high.
At the end of August, Thruvision announced yet another contract win, the latest in a long line of recent deals. The latest announced contract has been won in Canada with the firm’s first Canadian Government customer who signed up through the firm’s local Value-Added Reseller. It is also Thruvision’s first deployment in Canada's entrance market. This expands the company’s existing presence in the country, where previous orders have predominantly served retail distribution customers.
While no value was put on the contract, Thruvision announced that it is for its 8108 WalkTHRU solution, which will be deployed at a municipal building to provide secure, efficient and respectful screening of visitors to the Council Chambers. The deployment incorporates the firm’s SmartSCREEN and DynamicDETECT software, and uses a battery-powered configuration, providing flexibility of deployment. The firm added that this order further demonstrates the value in its strategy of working with established regional partners which bring strong local market knowledge and customer support capabilities.
Alongside this news, Thruvision announced that a number of orders have been received recently from new and existing Retail Distribution customers, across the UK, Europe and the US, as well as from a new Government customer in Europe. These orders are for the WalkTHRU and SpotCHECK solutions, including software options.
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, 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.
Many deals
Prior to the Canadian win, at the start of August the firm announced a contract win in South-East Asia for high-throughput people-screening systems in an airport setting, which is expected to generate more than £3 million of revenue for the company. This was a significant deal, representing 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.
This was also 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 Group 5-year share price chart
After the share price rise today Thruvision is now capitalised at £9.6 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. Thruvision 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. The company has been loss making for many years but the directors believe that the net proceeds will enable it 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 getting back into the black will be critical.
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Disclosures
Thruvision Group is not a corporate client of Optimo Research Ltd.
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