Linlithgow-based Calnex Solutions plc, a provider of test and measurement solutions for telecoms, cloud computing and defence markets, said its revenue rose 19% to £21.9 million, with profit before tax rising 73% to to £1.2 million, in the year ended March 31, 2026 — the firm’s 20th year in operation.
Total dividend will be 0.99p per share, up from 0.95p.
Calnex says it “designs, produces and markets innovative test and measurement instrumentation that enables customers to validate the performance of critical network technologies and applications.”
The firm reported: “Diversification strategy gaining traction, with increased contribution from newer growth markets, reducing reliance on traditional telecoms markets.”
Calnex said highlights included “a significant repeat order from a leading hyperscaler in H2, demonstrating scalability and relevance of Calnex’s solutions in data centre environments and digital infrastructure.”
It reported “growing momentum in government and defence, with increased opportunities within US federal programmes.”
Calnex is headquartered in Linlithgow, with additional locations in Belfast, Stevenage and California, supported by sales teams in China and India. Calnex has a global network of partners.
To date, Calnex has secured and delivered orders in 68 countries across the world. Customers include BT, China Mobile, NTT, Ericsson, Nokia, Intel, Qualcomm, IBM, Nvidia and Meta.
Calnex is one of the very few Scottish firms to go public via the London Stock Exchange in the last 10 years. The Linlithgow firm went public at around 48p per share in October 2020 and its shares soared as high as £1.95 in January 2023. Its shares currently trade around round 74p, giving it a stock market value on AIM of about £75 million.
Calnex CEO Tommy Cook said: “This has been a strong year for Calnex, delivering double-digit revenue growth, improved profitability and material progress against our diversification strategy, with increasing traction across a broader set of infrastructure and assurance markets.
“Our focus now is firmly on execution, advancing key development programmes and converting early engagement into commercial wins, supported by improved market access.
“As this year marked our 20th year of operations, the milestone is an opportunity to reflect on how far the business has come in the last two decades; years defined by innovation, customer-focus and resilience.
“From this foundation we enter FY27 with confidence, supported by a robust product roadmap, strong balance sheet, and a more diversified market footprint.
“In a period of rapid technological and geopolitical change, the importance of high-performance network testing continues to grow, and as we move into the next decade of Calnex’s journey, we are excited by the opportunities ahead.”