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Tantalus Systems Holding Inc
TSX:GRID

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Tantalus Systems Holding Inc
TSX:GRID
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Price: 4.64 CAD 1.53% Market Closed
Market Cap: 238.7m CAD

Tantalus Systems Holding Inc
Investor Relations

Tantalus Systems Holding, Inc. provides mission-critical smart grid solutions that include a market edge computing platform, robust software applications and an advanced IoT communications network. The company is headquartered in Burnaby, British Columbia. The company went IPO on 2018-11-21. The firm transforms aging one-way grids into multi-directional grids, which improves the efficiency, reliability and sustainability of public power and electric cooperative utilities and the communities they serve. The company operates through two segments: Connected Devices and Infrastructure, and Utility Software Applications and Services. The Connected Devices and Infrastructure segment is engaged in edge computing modules, which are integrated into multiple devices deployed across a utility’s distribution grid including meters, sensors, street lighting fixtures and distribution automation equipment. The Utility Software Applications and Services segment is engaged in mission-critical software applications and a suite of professional services to support utilities. The segment sales software licenses, hosting services and professional services. The Company’s business operations are in Canada and in the United States.

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Last Earnings Call
Fiscal Period
Q3 2025
Call Date
Nov 13, 2025
AI Summary
Q3 2025

Record Revenue: Tantalus reported record Q3 revenue of $14.2 million, marking 22.5% year-over-year growth and setting new high watermarks for both quarterly and trailing 12-month revenue.

Strong Recurring Revenue: Recurring revenue for Q3 rose to $3.4 million and annual recurring revenue for the trailing 12 months reached $13.5 million, up over 11% year-over-year.

Profitability Achieved: The company posted net income of $384,000 for the quarter, reversing a loss in the prior year, and delivered positive adjusted EBITDA of $1.2 million.

Robust Margins: Gross profit margin remained strong at 55% for Q3, supported by software and services, and reached 54% over the trailing 12 months.

Commercial Momentum: Orders converted from the sales pipeline hit a record $54 million for the first nine months of 2025, up almost 35% year-over-year, with a strong book-to-bill ratio of 1.37x.

TRUSense Gateway Adoption: The number of utilities placing orders for the TRUSense Gateway rose to 52 as of September 30, exceeding internal targets and showing strong interest from both existing and new customers.

Positive Outlook: Management remains optimistic about continued growth, citing urgent utility demand to modernize distribution grids and highlighting a healthy balance sheet with $18.3 million in liquidity.

Key Financials
Revenue
$14.2 million
Revenue (Trailing 12 Months)
$52 million
Recurring Revenue (Quarter)
$3.4 million
Annual Recurring Revenue
$13.5 million
Recurring Revenue (Trailing 12 Months)
$12.7 million
Gross Profit Margin (Q3)
55%
Gross Profit Margin (Trailing 12 Months)
54%
Net Income
$384,000
Diluted Income Per Share
$0.01
Adjusted EBITDA (Q3)
$1.2 million
Adjusted EBITDA (Trailing 12 Months)
$3.5 million
Adjusted EBITDA Margin (Trailing 12 Months)
6.7%
Cash and Cash Equivalents
$9.8 million
Total Liquidity
$18.3 million
Order Conversions (First 9 Months)
$54 million
Book-to-Bill Ratio
1.37x
Utilities Ordering TRUSense Gateway
52
Earnings Call Recording
Other Earnings Calls

Management

Mr. Peter A. Londa J.D., MBA
CEO, President & Director
No Bio Available
Mr. George W. Reznik
Chief Financial Officer
No Bio Available
Mr. Michael Grandis J.D.
General Counsel, Chief Legal & Administrative Officer and Corporate Secretary
No Bio Available
Mr. Michael J. Julian M.B.A., MBA
Chief Revenue Officer
No Bio Available
Ms. Leena Al-Hajjar
Vice President of People & Culture
No Bio Available
Mr. Douglass Campbell
Chief Solution Officer
No Bio Available
Mr. Tereus Scott
Chief System Architect
No Bio Available

Contacts

Address
BRITISH COLUMBIA
Burnaby
3555 Gilmore Way, Suite 200
Contacts
+17783816322.0