Linlithgow-based Calnex Solutions plc, a provider of test and measurement solutions for telecoms, cloud computing and defence markets, reported revenue growth of 9% to £8 million and a reduced loss before tax of £900,00 (H1 FY25: £1.3m) for the six months ended September 30, 2025.

In its outlook, Calnex said it is “well positioned to convert the telecoms sales pipeline once the trading environment improves, but not reliant on this for a return to growth.”

It said expansion “into the new market of US defence is a strategic focus, where we see significant opportunity for growth in the long-term.”

The Linlithgow firm also reported “ongoing momentum from hyperscalers investing in datacentre operations.”

Calnex shares fell almost 4% to around 54p — they are down 20% year to date — to give the company a current stock exchange value of about £48 million.

Calnex went public at about 48p per share in October 2020 and its shares soared as high as around £1.95 in January 2023.

Calnex CEO Tommy Cook said: “Calnex is making solid progress as we continue to evolve in line with the shifting market dynamics across our markets.

“Our heritage in telecoms standards puts us at the forefront of innovation that is increasingly relevant across diverse end markets, with traction building in defence & government and cloud computing & datacentre markets as we look to understand the market dynamics and discover new opportunities.

“We enter the second half with encouraging momentum and a clear strategy to drive growth.

“Our strong balance sheet enables us to continue investing in our products, team and routes to market to capture the growing demand for network infrastructure testing solutions, and we remain confident in delivering a full year performance in line with market expectations.”