Linlithgow-based Calnex Solutions plc, a provider of test and measurement solutions for telecoms and cloud markets, said its revenue for the year ended March 31, 2025, grew 13% to £18.4 million.
The firm also returned to profitability, delivering profit of £700,000 compared to a loss before tax of £384,000 in the prior year. Total dividend is maintained at 0.93p per share.
“Financial performance improved notably in H2, driven by a higher proportion of high-value sales and increasing demand across cloud computing, defence and satellite markets,” said the Linlithgow firm.
In its outlook, Calnex said it entered FY26 “with an increased order backlog and growing engagement across key sectors.”
Calnex’s customers include BT, China Mobile, NTT, Ericsson, Nokia, Intel, Qualcomm, IBM, Nvidia and Meta.
Calnex went public at 48p per share in October 2020 and its shares soared as high as £1.95 in January 2023. However, the Linlithgow firm’s shares have since fallen to around 53p, reducing its stock market value to about £47 million.
Calnex Solutions CEO Tommy Cook said: “We have made strong progress this year across key sectors, despite the ongoing challenging telecoms market.
“Both the implementation of our sales network and our product expansion strategy have progressed materially this year, with healthy uptake of the 800Gb/s synchronisation testing solutions and increased demand for our NAA products driving the return to growth.
“We enter FY26 with a healthy order backlog, strong cash balance and increasing customer engagement. Momentum from product development is building into FY26, which, with stabilised trading in the telecoms market, longstanding customer relationships across all territories and a widening footprint in a variety of end markets, leaves us well-positioned to convert our sales pipeline and deliver another year of growth and FY26 performance in line with market expectations.
“While macro uncertainty remains, particularly with geopolitical developments, the telecoms industry’s continued innovation around 1.6Tb/s and high-speed application testing presents further long-term growth opportunity for Calnex.
“Our strategy remains focused on scaling in cloud and defence markets, maximising momentum behind Paragon-neo, and continuing to enhance our NAA platform capabilities. With strong foundations and an experienced team in place, we are confident in our ability to deliver sustained long-term growth.”