t42 IoT Tracking Solutions PLC (GB:TRAC) has released an update.
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t42 IoT Tracking Solutions PLC reports a stable financial year with a slight decrease in revenue to $4.01m, but a notable rise in gross margin to 53% and a significant drop in net loss to $0.42m. The company has secured four major long-term commercial agreements potentially worth $20m over three years, reflecting a strategic pivot towards supply chain solutions. With a strong focus on R&D, the tracking solutions provider anticipates further revenue growth in 2024 and continued market penetration through its advanced IoT products.
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