CyanConnode Holdings (LSE:CYAN) reported a 24% revenue decline for the fiscal year ending March 2025, largely due to election-related uncertainty and consumer hesitation in India, its largest market. Nevertheless, the company’s order book surged to £180 million—tripling year-on-year—with a landmark £70 million contract awarded by the Government of Goa, highlighting strong demand for its technology solutions.
To improve transparency, CyanConnode will start providing quarterly updates and has taken a cautious stance on future forecasts. Financially, the firm reduced its operating losses and improved gross margins thanks to cost-efficient product launches. Expansion efforts included establishing a UAE subsidiary and winning smart metering contracts in India, reinforcing its regional footprint.
While CyanConnode shows promise through significant order growth and strategic expansions, ongoing profitability challenges and cash flow issues remain concerns. Technical signals point to a potential recovery, but valuation pressures persist due to the company’s continued losses.
More about CyanConnode Holdings
CyanConnode Holdings plc is a specialist provider of narrowband RF smart mesh network technology, serving smart metering and IoT markets globally. With a strong focus on India, the company has also broadened its reach into the Middle East and North Africa regions.
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