t42 IoT Tracking Solutions PLC - Jersey-based real-time tracking, security, and monitoring solutions provider - Expects to report revenue of about $4.0 million for 2022, including about $2.0 million of [software-as-a-service] income representing about 50% of the total, compared with 51% in 2021. In 2021, revenue was $4.2 million. Says the result was achieved amid global supply chain issues and continued recovery from the Covid pandemic. Looking ahead, t42 loT says initial orders from clients in the US, South America and Israel have been received, which indicate a positive outlook for 2023.

Chief Executive Officer Avi Hartmann says: ‘We move forward with the new potential customers while implementing the lessons learned from the completed pilots and existing business. Our new strategy focusing on shipping container businesses has proven itself, with increasing demand for our products and services. With the new offering of lease-based contracts, the t42 board is looking forward to the coming year with confidence.’

Back in September, t42 IoT reported revenue of $2.2 million in the six months ended June 30, down 4.1% from $2.3 million a year prior. Operating loss widened to $525,000 from $473,000.

Current stock price: 5.50 pence each

12-month change: down 73%

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