CyanConnode Expects £20M Revenue, Up 41% Year-on-Year

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Trading Statement

CYANCONNODE HOLDINGS PLC Released 07:00:04 24 April 2026 RNS Number : 7445B CyanConnode Holdings PLC 24 April 2026

24 April 2026

CyanConnode Holdings plc

("CyanConnode", the "Company" or the "Group")

Trading Update for FY2026

CyanConnode Holdings plc (AIM: CYAN), a global provider of IoT communication and smart metering solutions, is pleased to announce a trading update for the 12 months ended 31 March 2026 ("FY2026").

The Company expects to report revenues of in excess of £20 million (subject to audit) (FY2025: £14.2 million) for the period. A significant proportion of this revenue relates to the Company's Goa project, for which installation has now commenced. The first meters, along with an integrated software platform and related services, were successfully implemented during H2 FY2026. This project represents CyanConnode's first contract as an Advanced Metering Infrastructure Service Provider ("AMISP").

During the second half of FY2026, the Company moved toward completion of its new product suite, including the FG28 module, cellular modules and In-Meter Gateways, which have significantly lower costs to the Company. In anticipation of the new product launch, certain hardware shipments were deferred by the Company, leading to a lower proportion of the revenue for the year relating to the part of the Group's business where it acts as a subcontractor, supplying only its communication technology. Hardware shipments are expected to increase following the new product launch, targeted for H1 FY2027.

A total of £10.8m cash was collected from customers (£11.6m at constant currencies) during the period (compared to £14.2m for FY 2025). Approximately £2.3m of the £10.8m collected related to trade receivables from FY 2025 and £8.6m related to FY 2026 trade receivables. The Company wishes to clarify that at the time of the FY2026 interim results, cash collection since 30 September 2025 was £1.6m, as stated, of which £0.3m related to trade receivables from FY2025, and £1.3m related to trade receivables from FY2026.

The Company continues to make steady progress with several long-term prospective projects in the APAC region and the Middle East. These opportunities are moving closer to order stage and, if secured, would represent good growth potential for the Group. In addition, CyanConnode has been active in participating in a number of tenders, both as an AMISP and as a sub-contractor in India.

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Enquiries:

CyanConnode Holdings plc                                                                      Tel: +44 (0) 1223 865 750

John Cronin, Group CEO                                                                             www.cyanconnode.com

Strand Hanson Limited (Nominated and Financial Adviser) Tel: +44 (0) 20 7409 3494

James Harris, Richard Johnson

Zeus Capital Limited (Joint Broker) Tel: +44 (0) 20 3829 5000

Simon Johnson, Louisa Waddell

Panmure Liberum (Joint Broker)                                                              Tel: +44 (0) 20 7886 2500

Rupert Dearden / James Sinclair-Ford

Novella (Financial PR)                                                                                 Tel: +44 (0) 20 3151 7008

Tim Robertson / Aeliya Bilgrami

About CyanConnode

CyanConnode (AIM:CYAN.L), is a global provider of IoT communication and smart metering solutions. Its comprehensive technology portfolio includes narrowband RF mesh, advanced cellular modules, and hybrid communication platforms, delivering scalable and cost-effective connectivity for smart energy and infrastructure applications.

The Company's flagship Omnimesh platform offers highly reliable, self-forming and self-healing networks, optimised for deployment across diverse geographic and environmental conditions. Complemented by innovations such as long-range RF, in-meter gateways, and AI-enhanced cellular connectivity, CyanConnode provides flexible solutions tailored to evolving utility needs.

CyanConnode's Universal Head-End System (UHES) enables seamless integration across multiple communication technologies, enhancing interoperability and simplifying network management at scale.

As a trusted AMISP and OEM partner, CyanConnode works with utilities, system integrators, and meter manufacturers through a global, vendor-agnostic ecosystem. The Company is playing a central role in the digital transformation of the energy sector, with projects spanning India, Southeast Asia, the Middle East, and Europe.

For more information, please visit www.cyanconnode.com

The information contained within this announcement is deemed to constitute inside information for the purposes of Article 7 of EU Regulation 596/2014 (Market Abuse Regulations) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain.

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