Linlithgow-based Calnex Solutions plc, a provider of test and measurement solutions for telecoms, cloud computing and defence markets, said on Wednesday its “continued diversification across digital infrastructure and government & defence is driving growth.”
Calnex said a recently secured digital infrastructure business win with a major US financial institution reinforced the benefits of the diversification strategy.
The Linlithgow form has offices in Belfast, Stevenage and California, supported by sales teams in China and India.
Calnex is one of the 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. However, its shares currently trade around 59p, giving it a stock market value on AIM of about £52 million.
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.
In an AGM trading statement, the firm said: “Calnex has made an encouraging start to FY27, with its increasingly diversified product portfolio continuing to drive growth and broaden the Group’s opportunities, exemplified by a recently secured digital infrastructure win with a major US financial institution, reinforcing the benefits of the diversification strategy.
“As previously outlined, FY27 represents a year of targeted investment into key product launches and development of the market and customer relationships which are expected to underpin future growth.
“The Group’s key product development programmes are progressing well. The discovery work to identify new applications and growth opportunities in the digital infrastructure market is gaining momentum, with proof-of-concept evaluations underway with key customers.
“The opportunity funnel for the SNE network emulation product continues to grow, supported by positive early customer engagement as Calnex focuses on the areas of greatest commercial potential.
“Customer engagement around the next-generation Sentry data centre assurance offering continues to develop positively. Development of the Group’s 1.6Tb/s synchronisation testing product is also progressing towards its planned launch in FY28, building on the success of Paragon Neo-S 800 Gb/s.
“The partnership with Viavi continues to gain traction and has been expanded, providing access to a broader installed base and strengthening Calnex’s go-to-market reach. Together with the Group’s wider partner network and enhanced go-to-market capabilities, this is strengthening market access across end markets.”