2026 Interim Results

Power Probe PLC

14 September 2026

 

14 September 2026

Power Probe PLC

Unaudited interim results for the six months ended 30 June 2026

Gross margin expansion and strategic progress

Power Probe ("Power Probe", or the "Group"), a leading producer of automotive electrical diagnostic tools for professional service technicians, today reports its interim results for the six months ended 30 June 2026 ("H1 2026").

Strong strategic and operational progress

·   Continued execution of the Group's revenue mix strategy, transitioning away from lower-margin legacy private brands business while developing more specialised products for the automotive aftermarket.

·   Continued momentum in the automotive manufacturer dealership channel, with further products approved for inclusion in dealership programmes.

·    Encouraging progress in new territories, with participation at key customer and industry trade shows in the UK and Europe generating new business opportunities and delivering positive year-on-year sales performance and customer engagement.

·   Significant progress on the development of the Group's US manufacturing capability in Charlotte, N.C., including the establishment of a new US manufacturing entity and continued progression of facility design and infrastructure works.

H1 2026 Financial Highlights

·    $17.7 million revenue (H1 2025: $21.2 million), reflects timing of new product launches - FY26 revenue weighted towards H2, consistent with previous guidance.

·    Gross margin of 50.4% (H1 2025: 40.8%) driven by increased mix of Power Probe branded products and higher-margin private brands business, alongside current year pricing initiatives.

·    Adjusted EBITDA¹ of $3.8 million (H1 2025: $5.5 million) and adjusted EBITDA¹ margin of 21.7% (H1 2025: 26.1%).

·   Adjusted EBITDA¹ includes c.$0.6m of additional costs incurred during the year in relation to ongoing public company expenses that were not incurred in the prior year. Excluding these additional costs, the adjusted EBITDA¹ margin would have been 24.8%.

Dividend

·      Interim dividend of 2.16 cents (1.60 pence²) per ordinary share.

·     This interim dividend will carry an ex dividend date of 24 September 2026, with payment no later than 16 October 2026.

Outlook underpinned by new product launches

The Group remains on track with the execution of its strategic priorities. Significant products launched towards the end of H1 2026 are expected to contribute materially to revenue in the second half of the year, while providing further opportunities for growth into FY27.

Demand for the Group's existing Power Probe branded products remains robust, alongside encouraging commercial progress in new territories and within the automotive manufacturer dealership channel. The Group also continues to benefit from the improved margin profile resulting from its product and customer mix strategy and pricing initiatives implemented during 2026.

Longer term, the Board continues to see significant opportunities to deliver multi-year, sustainable revenue growth and margin expansion through continued product innovation, international expansion and the development of manufacturing capability at the Group's Charlotte, N.C. facility.

Chema Garcia, Chief Executive Officer, commented:

"We continued to make good strategic progress during the first half and the significant improvement in gross margin demonstrates the benefits of our focus on Power Probe branded products, the transition towards higher-quality private brands business and the pricing initiatives implemented during the year.

"We enter the second half with a number of significant new products now launched, encouraging momentum in new territories and continued progress within the automotive manufacturer dealership channel. Alongside this, we are advancing our investment in US manufacturing capability in Charlotte and the systems and infrastructure needed to support the Group's longer-term growth.

"We remain confident in our strategy and believe the investments and initiatives underway provide a strong platform for growth through the second half of 2026, into FY27 and beyond."

1 Adjusted EBITDA is a non-GAAP measure defined as EBITDA (operating profit before depreciation and amortisation) adjusted to exclude non-underlying, non-recurring items, specifically IPO related expenses, one-off litigation costs and IFRS 2 share-based payment charges

2. Based on USD / GBP exchange rate of 1.35 as of Friday 11 September 2026

ENDS

CONTACT DETAILS

Power Probe Chema Garcia, Chief Executive Officer Fabio Medina, Chief Financial Officer Tom Marsh, EMEA Regional Director	https://powerprobe.com/en/ c/o Sodali & Co
Shore Capital (Nominated Adviser & Broker) Toby Gibbs / Harry Davies-Ball	[phone]
Sodali & Co James White / Tilly Abraham / James Whitaker	[phone] [e-mail]

About Power Probe

Power Probe is a leading producer of automotive electrical diagnostic tools for professional service technicians.

The Group was founded in 1992 in California, USA, and has grown to become an internationally renowned brand, designing and distributing over 140 products. It is driven by a relentless focus on product quality, continuous innovation and customer care, as captured in its mission statement: "Simplifying Automotive Diagnostics".

POWER PROBE PLC

INTERIM REPORT

FOR THE PERIOD 1 JANUARY 2026 TO 30 JUNE 2026

INTERIM REVIEW

Introduction

The Group continued to make strong progress against its strategic objectives during the first half of 2026. Revenue was $17.7 million (H1 2025: $21.2 million), reflecting the timing of new product launches, with FY26 revenue weighted towards the second half of the year, consistent with previous guidance. A number of significant new products were launched towards the end of the period and are expected to contribute materially to revenue in H2 2026, while providing further opportunities for growth into FY27.

Gross margin increased significantly to 50.4% (H1 2025: 40.8%), reflecting the Group's increased focus on Power Probe branded products, the transition towards higher-margin private brands business and the successful implementation of pricing initiatives during 2026, which have been well absorbed by the market.

Adjusted EBITDA¹ was $3.8 million (H1 2025: $5.5 million), representing an adjusted EBITDA¹ margin of 21.7% (H1 2025: 26.1%). Adjusted EBITDA¹ includes approximately $0.6 million of additional ongoing public company costs which were not incurred in the comparative period. Excluding these additional costs, the adjusted EBITDA¹ margin would have been 24.8%.

$'000s	H1 2026	H1 2025	Change
Revenue	17,689	21,201	-16.6%
Gross profit	8,923	8,650	+3.2%
Gross margin	50.4%	40.8%	+9.6% pts
Adjusted EBITDA1	3,839	5,535	-30.6%
Adjusted EBITDA1 margin	21.7%	26.1%	-4.4% pts
Revenue by geography:
US	16,434	20,149	-18.4%
Rest of World	1,255	1,053	+19.2%

Trading and financial performance

Power Probe branded products generated revenue of $16.2 million during the period (H1 2025: $17.9 million). The Group continues to see robust underlying demand across its existing branded portfolio and remains confident in the commercial opportunity presented by its expanding pipeline of new products.

$'000s	H1 2026	H1 2025	Change
Revenue by business unit:
Power Probe branded products	16,198	17,855	-9.3%
Private brands	1,491	3,346	-55.5%

Private brands revenue reduced to $1.5 million (H1 2025: $3.3 million), reflecting the deliberate execution of the Group's strategy to move away from lower-margin legacy private brands accounts. In parallel, the Group is developing new, more specialised products for the automotive aftermarket, offering stronger strategic alignment and greater long-term growth potential. While this transition is expected to reduce overall private brands revenue, it is also expected to improve the quality and profitability of this part of the business.

Together with pricing initiatives implemented during 2026, this shift in revenue mix contributed to the 9.6 percentage point increase in Group gross margin to 50.4%.

$'000s	H1 2026	H1 2025	Change
Revenue	17,689	21,201	-16.6%
Cost of sales	(8,766)	(12,552)	-30.2%
Gross profit	8,923	8,650	+3.2%
Gross profit margin	50.4%	40.8%	+9.6% pts
Selling and marketing expenses	(1,656)	(2,069)	-20.0%
General and administrative expenses	(3,892)	(1,855)	+109.8%
Research and development expenses	(483)	(87)	+454.1%
Operating profit	2,891	4,638	-37.7%
Finance income	1	2	-52.8%
Finance costs	(98)	(82)	19.6%
Profit before tax	2,795	4,559	-38.7%
Tax	(781)	(1,161)	-32.7%
Profit after tax	2,013	3,398	-40.8%

General and administrative expenses increased to $3.9 million (H1 2025: $1.9 million), reflecting the additional ongoing costs associated with operating as a publicly listed company together with continued investment in headcount and senior hires to provide the capabilities and infrastructure required to support the Group's growth strategy. The Group also continued to invest in product development during the period, with research and development expenditure increasing as the Group progresses its pipeline of new products.

Operating profit was $2.9 million (H1 2025: $4.6 million) and profit before tax was $2.8 million (H1 2025: $4.6 million). Adjusted profit before tax was $3.5 million (H1 2025: $5.3 million), with adjusted profit after tax of $2.6 million (H1 2025: $4.0 million).

Adjusted EBITDA¹ bridge

$'000s	H1 2026	H1 2025	Change
Operating profit	2,891	4,638	-37.7%
Depreciation	254	177	+44.0%
Amortisation	5	0	-
EBITDA	3,151	4,815	-34.6%
IPO related expenses	82	604	-86.4%
One-off litigation	364	116	+213.9%
Share based payments	241	-	-
Adjusted EBITDA1	3,839	5,535	-30.6%
Adjusted EBITDA1 margin	21.7%	26.1%	-4.4% pts

Adjusted profit after tax bridge

Adjusted EBITDA1	3,839	5,535	-30.6%
Depreciation	(254)	(177)	+44.0%
Amortisation	(5)	-	-
Adjusted EBIT	3,579	5,358	-33.2%
Finance income	1	2	-52.8%
Finance costs	(98)	(82)	19.6%
Adjusted profit before tax	3,482	5,278	-34.0%
Tax	(871)	(1,320)	-34.0%
Adjusted profit after tax2	2,612	3,959	-34.0%

Balance sheet and cash flow

The Group maintained a strong balance sheet as at 30 June 2026, with cash and cash equivalents of $13.0 million (31 December 2025: $15.3 million) and minimal borrowings. Net cash generated from operating activities was $0.1 million, reflecting movements in working capital during the period, including a $2.3 million reduction in trade and other payables, partly offset by a reduction in inventory. The Group invested $0.4 million in intangible assets and property, plant and equipment during the period and paid dividends of $1.6 million. Total shareholders' equity increased to $20.7 million (31 December 2025: $20.2 million).

Operational and strategic progress

The Group has continued to make strong progress in its investment in manufacturing capability at its Charlotte, N.C. facility. Architectural and engineering partners have been engaged, facility design has progressed and infrastructure works are underway to support future manufacturing operations. A new US manufacturing entity has also been established and funded using IPO proceeds to support the development of the Charlotte operation.

Establishing manufacturing capability in Charlotte is expected to provide greater operational flexibility, strengthen the Group's product innovation pipeline and expand production capacity closer to its largest end market, providing opportunities for both revenue growth and margin expansion over time.

The Group also continues to make encouraging progress in new territories, in particular the UK and Europe. Rest of World revenue increased by 19.2% to $1.3 million during the period. Participation at key customer and industry trade shows has generated new business opportunities, with sales performance and customer engagement at these events showing encouraging year-on-year progress.

Momentum also continues within the automotive manufacturer dealership channel and the Group has made further progress in securing approved products within manufacturer dealership programmes. The Board continues to view this channel as an attractive longer-term opportunity as the Group broadens the routes through which its products reach professional technicians.

The Group remains committed to investing in its systems and operational infrastructure. The implementation of SAP is progressing, with go-live expected at the beginning of Q4 2026, providing an enhanced platform to support the Group as it grows in scale and complexity.

Outlook

The Group remains on track and continues to execute against its strategic priorities. Significant new product launches completed towards the end of H1 2026 are expected to make a meaningful contribution during the second half of the year and support further growth into FY27.

The Group continues to see robust demand for its existing Power Probe branded products. Encouraging progress in the UK and Europe and the automotive manufacturer dealership channel provides additional avenues for growth, while the Group's product and customer mix strategy and 2026 pricing initiatives are supporting an improved margin profile.

Looking beyond FY26, the Board continues to see significant, multi-year opportunities to deliver sustainable revenue growth and margin expansion through continued product innovation, international expansion and the development of the Group's US manufacturing capability. The Board remains confident in the Group's strategy and the long-term growth opportunity ahead.

Dividend

The Board is pleased to declare an interim dividend of 2.16 cents (1.60 pence³) per ordinary share.

The interim dividend will have an ex-dividend date of 24 September 2026, with payment to shareholders no later than 16 October 2026.

Chema Garcia Riera

Chief Executive Officer

1.Adjusted EBITDA is a non-GAAP measure defined as EBITDA (operating profit before depreciation and amortisation) adjusted to exclude non-underlying, non-recurring items, specifically IPO related expenses, one-off litigation costs and IFRS 2 share-based payment charges

2.Adjusted profit after tax is calculated using a group effective tax rate of 25%

3. Based on USD / GBP exchange rate of 1.35 as of Friday 11 September 2026

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

FOR THE PERIOD ENDED 30 JUNE 2026

		Period to		Period to		Year ended
		30 June		30 June		31 December
		2026		2025		2025
		(Unaudited)		(Unaudited)		(Audited)
		$		$		$
Revenue		17,688,560		21,201,349		39,353,959
Cost of sales		(8,766,008)		(12,551,630)		(23,607,551)
Gross profit		8,922,552		8,649,719		15,746,408
Selling and marketing expenses		(1,656,100)		(2,069,117)		(3,921,941)
General and administrative expenses		(3,892,443)		(1,251,465)		(3,423,559)
Exceptional costs in connection with IPO		-		(603,549)		(3,272,307)
Research and development expenses		(482,552)		(87,084)		(466,786)
Operating profit		2,891,457		4,638,504		4,661,815
Finance income		993		2,106		4,467
Finance costs		(97,933)		(81,860)		(123,210)
Profit before tax		2,794,517		4,558,750		4,543,072
Income tax		(781,452)		(1,160,804)		(1,487,133)
Profit for the period		2,013,065		3,397,946		3,055,939
Other comprehensive (loss)/income		(198,621)		179		352,637
Total comprehensive income		1,814,444		3,398,125		3,408,576
Basic earnings per share (cents)		2.73		5.66		5.03
Diluted earnings per share (cents)		2.66		5.66		5.02

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

AS AT 30 JUNE 2026

		30 June		30 June		31 December
		2026		2025		2025
		(Unaudited)		(Unaudited)		(Audited)
		$		$		$
Assets
Non-current assets
Intangible assets		385,483		168,000		162,892
Property, plant and equipment		3,708,466		584,998		3,774,725
Deferred tax assets		734,497		796,414		777,624
		4,828,446		1,549,412		4,715,241
Current assets
Inventories		5,686,806		11,362,598		6,120,378
Trade receivables		6,235,011		7,736,804		5,850,562
Other receivables and prepayments		645,341		166,289		361,087
Cash and cash equivalents		12,966,563		42,168		15,255,062
		25,533,721		19,307,859		27,587,089
Total assets		30,362,167		20,857,271		32,302,330
Equity and liabilities
Equity
Ordinary share capital		93,675		4,043,128		93,675
Deferred share capital		3,702,306		-		3,702,306
Share premium		13,004,716		-		13,004,716
Share-based payment reserve		281,087		-		39,774
Other reserve		(2,880,852)		(2,995,128)		(2,880,852)
Foreign currency reserve		111,359		(42,478)		309,980
Retained earnings		6,344,638		6,265,552		5,923,545
Total equity		20,656,929		7,271,074		20,193,144
Non-current liabilities
Lease liabilities		3,293,725		230,954		3,477,902
		3,293,725		230,954		3,477,902
Current liabilities
Trade and other payables		4,843,437		9,086,023		7,156,459
Borrowings		39,952		2,676,542		-
Lease liabilities		311,538		376,092		258,239
Provisions		1,216,586		1,216,586		1,216,586
		6,411,513		13,355,243		8,631,284
Total liabilities		9,705,238		13,586,197		12,109,186
Total equity and liabilities		30,362,167		20,857,271		32,302,330

The financial statements were approved and authorised for issue by the board on 13 September 2026 and were signed on its behalf by:

F P Medina

Director

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 30 JUNE 2026

								Share-based
		Ordinary		Deferred				based				Foreign
		share		share		Share		payment		Other		currency		Retained		Total
		capital		capital		premium		reserve		reserve		reserve		earnings		equity
		$		$		$		$		$		$		$		$
At 1 January 2026		93,675		3,702,306		13,004,716		39,774		(2,880,852)		309,980		5,923,545		20,193,144
Comprehensive income for the period
Profit for the year		-		-		-		-		-		-		2,013,065		2,013,065
Other comprehensive loss for the period		-		-		-		-		-		(198,621)		-		(198,621)
Total comprehensive income for the period		-		-		-		-		-		(198,621)		2,013,065		1,814,444
Transactions with owners
Dividends paid		-		-		-		-		-		-		(1,591,972)		(1,591,972)
Share-based payments		-		-		-		241,313		-		-		-		241,313
Total transactions with owners		-		-		-		241,313		-		-		(1,591,972)		(1,350,659)
At 30 June 2026		93,675		3,702,306		13,004,716		281,087		(2,880,852)		111,359		6,344,638		20,656,929

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 30 JUNE 2025

								Share-based
		Ordinary		Deferred				based				Foreign
		share		share		Share		payment		Other		currency		Retained		Total
		capital		capital		premium		reserve		reserve		reserve		earnings		equity
		$		$		$		$		$		$		$		$
At 1 January 2025		4,043,128		-		-		-		(1,580,973)		(42,657)		6,867,606		9,287,104
Comprehensive income for the period
Profit for the period		-		-		-		-		-		-		3,397,946		3,397,946
Other comprehensive income for the period		-		-		-		-		-		179		-		179
Total comprehensive income for the period		-		-		-		-		-		179		3,397,946		3,398,125
Transactions with owners
Dividends paid prior to capital reconstruction		-		-		-		-		-		-		(4,000,000)		(4,000,000)
Movement on other reserve		-		-		-		-		(1,414,155)		-		-		(1,414,155)
Total transactions with owners		-		-		-		-		(1,414,155)		-		(4,000,000)		(5,414,155)
At 30 June 2025		4,043,128		-		-		-		(2,995,128)		(42,478)		6,265,552		7,271,074

CONDENSED CONSOLIDATED STATEMENT CHANGES IN EQUITY

FOR THE YEAR ENDED 31 DECEMBER 2025

								Share-based
		Ordinary		Deferred				based				Foreign
		share		share		Share		payment		Other		currency		Retained		Total
		capital		capital		premium		reserve		reserve		reserve		earnings		equity
		$		$		$		$		$		$		$		$
At 1 January 2025		4,043,128		-		-		-		(1,580,973)		(42,657)		6,867,606		9,287,104
Comprehensive income for the year
Profit for the year		-		-		-		-		-		-		3,055,939		3,055,939
Other comprehensive income for the year		-		-		-		-		-		352,637		-		352,637
Total comprehensive income for the year		-		-		-		-		-		352,637		3,055,939		3,408,576
Transactions with owners
Removal of old capital structure		(4,043,128)		-		-		-		4,043,128		-		-		-
Issue of shares on share-for-share exchange		3,777,863		-		-		-		(3,777,863)		-		-		-
Subdivision of shares		(3,702,306)		3,702,306		-		-		-		-		-		-
Issue of shares for cash		18,118		-		13,004,716		-		-		-		-		13,022,834
Dividends paid prior to group reconstruction		-		-		-		-		-		-		(4,000,000)		(4,000,000)
Movement on other reserve		-		-		-		-		(1,565,144)		-		-		(1,565,144)
Share-based payments		-		-		-		39,774		-		-		-		39,774
Total transactions with owners		(3,949,453)		3,702,306		13,004,716		39,774		(1,299,879)		-		(4,000,000)		7,497,464
At 31 December 2025		93,675		3,702,306		13,004,716		39,774		(2,880,852)		309,980		5,923,545		20,193,144

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE PERIOD ENDED 30 JUNE 2026

		Period to		Period to		Year to
		30 June		30 June		31 December
		2026		2025		2025
		(Unaudited)		(Unaudited)		(Audited)
		$		$		$
Cash flows from operating activities
Profit before tax for period		2,794,517		4,558,750		4,543,072
Adjustments to reconcile profit before tax to net
cash flows:
Amortisation of intangible fixed assets		5,107		-		5,108
Depreciation of property, plant and equipment		254,415		176,707		376,699
Share-based payments		241,313		-		39,774
Finance income		(993)		(2,106)		(4,467)
Finance costs		97,933		81,860		123,210
Foreign exchange differences		27,304		179		(39,913)
Decrease/(increase) in inventories		433,572		(1,895,466)		3,346,754
Increase in trade receivables		(384,449)		(2,431,588)		(545,346)
(Increase)/decrease in other receivables
and prepayments		(284,254)		32,514		(162,284)
(Decrease)/increase in trade and other payables		(2,265,689)		168,839		(1,387,217)
Tax paid		(785,658)		(541,054)		(1,222,542)
Net cash generated from operating activities		133,118		148,635		5,072,848
Cash flows from investing activities
Purchase of intangible fixed assets		(227,698)		(168,000)		(168,000)
Purchase of property, plant and equipment		(192,634)		(26,258)		(77,191)
Interest received		993		2,106		4,467
Net cash used in investing activities		(419,339)		(192,152)		(240,724)
Cash flows from financing activities
Issue of shares, net of issuance costs		-		-		13,022,834
Cash flows relating to spin out		-		(463,769)		(475,183)
Net proceeds from revolving credit facility		39,952		2,676,542		-
Lease payments		(131,462)		(179,759)		(383,840)
Interest paid		(97,933)		(81,860)		(123,210)
Dividends paid		(1,591,972)		-		-
Dividends paid prior to capital reorganisation		-		(4,000,000)		(4,000,000)
Net cash used in financing activities		(1,781,415)		(2,048,846)		8,040,601
Net increase in cash		(2,067,636)		(2,092,363)		12,872,725
Cash at beginning of year		15,255,062		2,134,531		2,134,531
Exchange differences on cash		(220,863)		-		247,806
Cash at the end of period		12,966,563		42,168		15,255,062
Comprising:
Cash and cash equivalents		12,966,253		42,168		15,255,062

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE PERIOD ENDED 30 JUNE 2026

1.	Corporate information

Power Probe Plc ("the Company") is a public limited company incorporated and domiciled in England and Wales. The registered office address is 15 Whitehall, London, United Kingdom, SW1A 2DD.The Company was incorporated on 16 January 2025. On 17 November 2025, the Company re-registered as a public limited company. The Company's shares were listed on the London Stock Exchange's AIM on 11 December 2025. Power Probe Plc together with its subsidiaries form the Power Probe Group ('the Group'). The Group's principal activity is the marketing and sale of diagnostic equipment for the automotive industry. The Group was formerly part of the MGL Group and was created through a spin-out of the Power Probe business from the MGL Group. On 24 December 2024, Power Probe Group Limited, the former parent company of the Power Probe Group, was legally separated from the MGL Group through a distribution of its shares to MGL members. The Company was subsequently incorporated on 16 January 2025 and, on 26 February 2025, issued shares to the shareholders of Power Probe Group Limited via a share-for-share exchange. This constitutes a capital reorganisation of the Group.

2.	Basis of preparation

The unaudited condensed consolidated financial statements for the period ended 30 June 2026 have been prepared in accordance with IAS 34 "Interim Financial Reporting" and the AIM Rules for Companies. The financial statements have been prepared on a historical cost basis. These condensed consolidated financial statements do not include all of the information required for a complete set of IFRS financial statements. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group's financial position and performance since the audited financial statements for the year ended 31 December 2025. As explained in note 1, the Group did not exist in its current form throughout the comparative period. The comparative information is presented as if the Group existed in its current legal structure throughout the comparative period, which is consistent with the presentation of the comparative information in the audited financial statements for the year ended 31 December 2025. The financial statements are presented in US dollars ($). The condensed consolidated financial statements are unaudited and were approved by the Board of Directors on 11 September 2026. Statutory accounts for the year ended 31 December 2025 have been filed with the Registrar of Companies and the auditor's report was unqualified and did not contain any statement under Section 498(2) or 498(3) of the Companies Act 2006.

3.	Accounting policies

The accounting policies applied by the Group in the preparation of these condensed consolidated financial statements are the same as those set out in the Group's audited financial statements for the year ended 31 December 2025.

4.	New standards, interpretations and amendments adopted by the Group

The Group has applied the amendments to IFRS 9 and IFRS 7 regarding the classification and measurement of financial instruments, amendments to IFRS 9 and IFRS 7 regarding power purchase arrangements and the Annual Improvements to IFRS Accounting Standards - Volume 11 from 1 January 2026. The amendments did not have a material impact on the Group's financial statements. The Group has not early adopted any standard, interpretation or amendment that has been issued but is not yet effective.

5.	Revenue from contracts with customers

The whole of the revenue is attributable to the principal activity of the Group, the marketing and sale of diagnostic equipment for the automotive industry.

	Analysis of revenue by geography				30 June		30 June		31 December
					2026		2025		2025
					$		$		$
	US				16,433,546		20,148,643		37,528,883
	Rest of world				1,255,014		1,052,706		1,825,076
					17,688,560		21,201,349		39,353,959

The Directors consider the Group to have only one operating segment. Details of the sole operating segment are shown in the condensed consolidated statement of comprehensive income, condensed consolidated statement of financial position and condensed consolidated statement of cash flows.

The following customers made up over 10% of revenue in the relevant reporting period:

				30 June		30 June		31 December
				2026		2025		2025
				$		$		$
	Customer 1			2,992,677		3,640,957		6,282,878
	Customer 2			2,398,476		2,611,477		-
	Customer 3			2,110,361		-		-
	Customer 4			1,867,073		-		-
	Customer 5			-		2,337,881		-
	Customer 6			-		2,320,089		5,597,011

Where revenue from any of the customers shown above was less than 10% of total revenue in the period, the amount of revenue has been shown as $nil.

6.	Income tax

Income tax for the period includes withholding tax of $104,906 (30 June 2025: $215,882) in respect of dividends issued in the period. Excluding this, income tax has been calculated by reference to the expected weighted average rate applicable for the full year.

7.	Other reserve and cash flows relating to spin out

The other reserve represents the net investment attributable to the non-Power Probe business. Prior to the spin out described in note 1, the previous group maintained a central cash function and thus the cash flows relating to the non-Power Probe business have been presented within financing activities are "cash flows relating to spin out". These cash flows represent those cash movements that were not attributed to the Power Probe business.

8.	Dividends paid

A dividend of 2.16 cents per share, totalling $1,591,972, was declared on 29 April 2026 and paid on 29 May 2026. In the comparative period to 30 June 2025, a dividend of 1.33 cents per share, totalling $4,000,000, was declared and paid. The prior year dividend was paid prior to the capital reorganisation described in note 1.

9.	Events after the reporting period

There were no significant events after the reporting period that occurred up to the date of approval of these interim accounts.

 

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