Solid State Secures $5.2M IoT Contract with US Customer

The latest update is out from Solid State ( (GB:SOLI) ).

Solid State plc has secured a follow-on $5.2 million contract from a US customer for its IoT technology product, initially supplied in May 2024. This order, to be delivered by the Components division, Solsta, involves smart vending machine solutions that integrate industrial routers with cloud-based services for intelligent inventory management. The contract underscores Solid State’s combined hardware and software capabilities and its international reach, reinforcing its market position and stakeholder confidence.

Spark’s Take on GB:SOLI Stock

According to Spark, TipRanks’ AI Analyst, GB:SOLI is a Outperform.

Solid State demonstrates strong financial fundamentals with consistent revenue growth, profitability, and efficient cash flow generation, underpinned by a stable balance sheet. Technical indicators suggest cautious optimism with positive momentum, while fair valuation and strategic corporate events, including securing significant orders and expanding production capabilities, enhance its long-term growth potential. These factors position Solid State as a moderately attractive investment in the Hardware, Equipment & Parts industry.

To see Spark’s full report on GB:SOLI stock, click here.

More about Solid State

Solid State plc is a leading value-added electronics group that supplies durable components, assemblies, and manufactured systems for industrial and defense markets, particularly in harsh operational environments. The company focuses on industrial and ruggedized computing, battery power solutions, antennas, secure radio systems, imaging technologies, and electronic components & displays. Operating through its Systems and Components divisions, Solid State serves various industries, including defense, energy production, aerospace, and transportation, under brands like Steatite, Solsta, and Custom Power. Headquartered in Redditch, UK, Solid State employs over 400 people and operates 14 sites globally.

Average Trading Volume: 77,980

Technical Sentiment Signal: Hold

Current Market Cap: £106.2M

For an in-depth examination of SOLI stock, go to TipRanks’ Stock Analysis page.