Trading Update
Summary by AI BETAClose X
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
4 November 2026
IMAGE SCAN HOLDINGS PLC
(“Image Scan” or the “Company”)
Trading Update
Strong profit, sustained growth and a platform for further value creation
Image Scan, a specialist provider of advanced X-ray screening and inspection systems, today announces a post year-end trading update for the year ended 30 September 2026 ("FY26"), which has been a year of renewed momentum and strategic progress.
The Group delivered a strong performance in FY26. Subject to audit, revenue is expected to be approximately £3.4m (FY25: £1.6m), while profit before tax will be approximately £0.3m (FY25: loss of £0.3m). This represents a significant year-on-year improvement and is one of the Group’s strongest profit outcomes in recent years.
This performance validates the Group’s product strategy and the investment made in building a broader, more relevant portfolio. Newer products brought to market in recent years have made an important contribution to revenue, alongside strong execution, continued cost control and successful contract delivery across portable X-ray, industrial inspection and aftersales. The result demonstrates that the current product platform can support materially higher levels of turnover and profit.
Key highlights
• Product strategy delivering growth: Revenue increased significantly compared with FY25, with newer products brought to market contributing materially alongside improved activity, contract conversion and deliveries.
• Strong profit expected: Subject to audit, the Group expects FY26 profit before tax to be approximately £0.3m, representing a significant improvement on FY25.
• Healthy order book: The closing order book is approximately £1.4m, providing good visibility and a solid foundation for FY27.
• Robust financial position: The Group will report year-end cash of approximately £1.4m, which will support continued investment and allow strategic flexibility.
• Strategic expansion: The acquisition of ClanTect broadened the Group’s security technology portfolio and created new opportunities through its international partner network. It represents an early step in a wider acquisition strategy intended to add complementary capabilities, accelerate growth and build scale over time.
• Growing market recognition: Strong financial delivery, progress across the product portfolio, contract announcements and the ClanTect acquisition were accompanied by an increased recognition of the Group’s strategic offering.
Trading performance
Trading during FY26 was significantly stronger than in FY25, with the Group’s enhanced product range translating into higher revenue and a strong profit outcome. The expanded product line-up, including the newer solutions introduced in recent years, enabled the business to address a broader range of customer requirements and contributed materially to the revenue of approximately £3.4m. Combined with disciplined cost management and a lean operating structure, this demonstrates the scalability of the business and the value of a focused, market-led approach to product development.
Progress was broad-based across portable X-ray, industrial inspection and aftersales.
The contribution from newer products is particularly encouraging, providing clear evidence that the strategic choices made to broaden and modernise the portfolio are delivering commercial results.
The Group continued to win business from governments, defence and security contractors, and industrial customers internationally, reinforcing both the relevance of its technology and the reach of its partner-led model.
ClanTect, which has a proprietary human presence detection technology which we acquired in August 2026, adds an established, complementary technology to the Group and broadens the solutions available to existing and prospective customers. Initial engagement through the Group’s international partner network has been very positive.
Importantly, the transaction marks the beginning of the acquisition strategy. The Board will continue to assess selective opportunities that can strengthen the portfolio, extend market access and enhance long-term shareholder value, while maintaining financial discipline.
Order book
The closing order book of approximately £1.4m provides good visibility as the Group enters FY27. Alongside this, the Group has a strong pipeline across its core security and industrial inspection markets. While the timing and delivery of larger contracts can vary, the quality and breadth of current opportunities support confidence in the direction of travel and the Group’s ability to build sustainable momentum.
Cash position
The Group closed FY26 with cash of approximately £1.4m. This reflects profitable trading, disciplined working-capital management and the performance-related structure of the ClanTect transaction. The resulting financial flexibility enables the Group to support organic growth, advance product development and evaluate further strategic opportunities without losing sight of returns and capital discipline.
Looking ahead
FY26 represents an important step forward for Image Scan. Expected strong profit, supported by a significantly broader and more productive product portfolio, demonstrates tangible progress against the Group’s ambitions. Image Scan enters FY27 with greater confidence, a clear strategic direction and a platform from which to build compound organic growth, develop ClanTect and pursue further complementary acquisitions. The Board remains focused on consistent execution, continued product innovation, broader engagement with investors and the creation of enduring value for shareholders.
Vince Deery, Chief Executive Officer of Image Scan, commented:
“FY26 has been a defining year for Image Scan. Subject to audit, we will deliver a strong profit before tax of approximately £0.3m, supported by revenue of approximately £3.4m, a robust cash position and a healthy closing order book. This represents a significant improvement on FY25 and one of our strongest profit outcomes in recent years.
“These results are a strong endorsement of the product strategy we have pursued. We have deliberately broadened and strengthened our portfolio, bringing new products to market that address clear customer needs and expand the opportunities available to our international partners. Those products are now contributing materially to revenue and demonstrating the scale that can be achieved from the platform we have built.
“ClanTect is another important addition to that platform. It expands our technology offering and shows how carefully selected acquisitions can complement organic growth. Our acquisition strategy remains at an early stage, and we will continue to evaluate opportunities where there is a compelling strategic fit, a clear route to value creation and an appropriate balance of risk and reward.
“Our ambition is to build a larger, more valuable and increasingly visible specialist technology group. With a proven product strategy, stronger financial foundations and an expanding pipeline, we are well positioned to deepen customer relationships, broaden our investor base and deliver sustainable long-term value for shareholders.”
For further information on the Company, please visit: www.ish.co.uk and for further information on its products, please visit: www.3dx-ray.com
-ENDS-
Image Scan Holdings plc
Vincent Deery, Chief Executive Officer
Sarah Atwell-King, CFO & Company Secretary
Tel: +44 (0) 1509 817400
Zeus - Nominated Adviser and Corporate Broker
Mike Coe (Investment Banking)
Tel: +44 (0)203 829 5000
ABOUT IMAGE SCAN HOLDINGS PLC
Image Scan Holdings plc is a UK-based technology group specialising in security, defence and industrial X-ray imaging and sensing solutions. Through its 3DX-Ray brand, the Group designs, manufactures and supplies X-ray inspection systems used worldwide by military, law enforcement, bomb disposal and security organisations to detect threats and support counter-terrorism operations.
Following the acquisition of ClanTect Ltd, the Group has expanded its technology portfolio to include human presence detection systems. ClanTect's products are deployed at secure facilities, critical infrastructure sites and border crossings to detect concealed individuals within vehicles and enhance perimeter security.
All these products are taken to market across the world through a strong network of international partners.
In addition, Image Scan manufactures industrial X-ray inspection systems. The primary market for these systems is in automotive emissions control where they are used for quality control inspection of catalytic converters and diesel particulate filters.
For further information on the Company, please visit: www.ish.co.uk - and for further information on its products, please visit: www.3dx-ray.com
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