Calnex Solutions PLC, a provider of test and measurement solutions for telecommunications, digital infrastructure, and government & defense markets, announced its final results for the year ended March 31, 2026. The company reported strong financial and operational performance, with highlights including
**Revenue growth**19% increase to ยฃ21.9 million, driven by strong operational execution and growing momentum across adjacent markets.
**Improved profitability**Underlying EBITDA rose 53% to ยฃ1.76 million, and profit before tax increased 73% to ยฃ1.24 million.
**Diversification strategy**Gaining traction with increased contribution from newer growth markets, reducing reliance on traditional telecoms markets.
**Product innovation**Continued development of products like SNE network emulation, Sentry for data center assurance, and 1.6Tb/s synchronisation technology.
**Strong balance sheet**Cash position of ยฃ9.3 million at year-end, providing flexibility for investment in product innovation, people, and routes to market.
**Proposed final dividend**0.68p per share, with a total dividend of 0.99p per share for FY26.
The companys diversification strategy is paying off, with significant repeat orders from hyperscalers and growing momentum in government and defense markets. Calnex is well-positioned to benefit from global investment in digital infrastructure, supported by its strong balance sheet, robust product roadmap, and diversified market footprint. The companys focus on execution and advancing key development programs is expected to drive further growth in FY28.
**Year-on-Year Financial and Debt Comparison:** - **Revenue Growth:** Increased by 19% from ยฃ18,386 in FY25 to ยฃ21,875 in FY26, driven by strong operational execution and diversification into new markets.
- **Gross Profit:** Rose by 20% from ยฃ13,763 to ยฃ16,584, with a slight improvement in gross margin from 75% to 76%.
- **Underlying EBITDA:** Surged by 53% from ยฃ1,151 to ยฃ1,756, reflecting improved profitability and cost control.
- **Profit Before Tax:** Increased by 73% from ยฃ720 to ยฃ1,244, highlighting significant operational leverage.
- **Closing Cash:** Decreased by 15% from ยฃ10,912 to ยฃ9,306, but post-year-end cash increased to ยฃ11.2m due to phasing of shipments in Q4.
- **Debt:** No debt is reported on the balance sheet, indicating a strong financial position.