Thruvision Group plc (THRU) AI Stock Analysis

• Market Cap: £4.58M
• Dividend Yield: N/A
• Average Volume (3M): 2.99M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.29
• Revenue Growth: -21.55%
• EPS Growth: 10.59%
• Country: UK
• Employees: 43
• Sector: Industrials
• Sector Strength: 72
• Industry: Security & Protection Services
• EPS (TTM): >-0.01
• Shares Outstanding: 448,559,020
• 10 Day Avg. Volume: 1,617,556
• 30 Day Avg. Volume: 2,993,701
• PEG Ratio: -0.01
• Price to Book (P/B): 0.43
• Price to Sales (P/S): 0.58
• P/FCF Ratio: -0.49
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -0.01
• Revenue Forecast (FY): £5.11M

• Rating: 42 Neutral
• Price Target: 0.98p ▲(3.58% Upside)
• Action: Reiterated Date: 12/11/25
• Date: Action: Reiterated 12/11/25

The overall stock score is primarily impacted by the company's poor financial performance, characterized by declining revenues and persistent losses. Technical analysis provides some neutral signals, but the negative valuation metrics further weigh down the score. The absence of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Conservative leverage / healthy equity base

Conservative leverage and a relatively healthy equity ratio provide durable financial flexibility. Low debt-to-equity reduces refinancing and interest burden, allowing the company to fund product development, pursue contracts and withstand revenue volatility without forced deleveraging.

Stable product-level margins

Maintained gross profit margins indicate durable product-level economics and potential pricing power in its niche. Stable gross margins mean that when volumes recover, improvements flow to operating earnings more directly, supporting a sustainable margin recovery once fixed costs are absorbed.

Recurring revenue streams and government contracts

A diversified model of sales, leasing and long-term service contracts plus government partnerships creates recurring revenue and customer stickiness. Installed-base service income and public-sector contracts smooth volatility and strengthen competitive positioning over multi-month sales cycles.

Negative Factors

Declining revenues

Sharp top-line decline (32.9% Y/Y; RevenueGrowth negative) signals weakening market traction or adverse contract timing. Sustained revenue shrinkage undermines scale economics, pressures gross and operating leverage, and lengthens the timeline to recover profitability absent structural sales or market improvements.

Negative operating and free cash flow

Persistent negative operating and free cash flows constrain the company’s ability to fund operations, R&D and service obligations internally. Continued cash burn increases reliance on external financing, elevates refinancing and dilution risk, and limits capacity to invest in growth or backlog fulfilment.

Persistent losses and weak returns

Ongoing losses, negative net profit margin and negative ROE show failure to convert sales into shareholder returns. Continued unprofitability erodes equity buffers, hampers access to capital, and constrains long-term investments in product development and commercial expansion needed to regain market share.

Thruvision Group plc Business Overview & Revenue Model

Company Description

Thruvision Group plc engages in development, manufacture, and sale of passive people-screening technology in the United Kingdom, rest of Europe, the Americas, the Asia-Pacific, the Middle East, and Africa. The company offers surface transportation security cameras for protecting the traveling public from terrorist attack; customs and border security cameras to check travelers for concealed contraband; entrance and public venue security cameras for screening visitors to detect weapons and explosives; loss prevention security cameras to detect and deter theft; and deployment accessories to provide operational flexibility. Its products are used in aviation security, retail supply chain loss prevention, customs and border control, and public area security. The company was formerly known as Digital Barriers plc and changed its name to Thruvision Group plc in November 2017. Thruvision Group plc was incorporated in 2010 and is headquartered in Abingdon, the United Kingdom.

How the Company Makes Money

Thruvision generates revenue through the sale and leasing of its security screening systems, which are deployed in high-security environments such as airports, train stations, and public events. The company earns money from direct product sales, long-term service contracts, and maintenance agreements. Additionally, Thruvision may generate revenue from software solutions that accompany their hardware products. Significant partnerships with government agencies and security organizations contribute to its earnings, along with ongoing contracts that ensure a steady stream of revenue from installed systems. The company also benefits from market demand for enhanced security measures, particularly in response to increasing global security concerns.

Thruvision Group plc Financial Statement Overview

Summary

Thruvision Group plc is experiencing financial difficulties, with declining revenues, persistent losses, and cash flow challenges. The company's low leverage is a positive aspect, but the inability to generate profits and positive cash flows poses significant risks. Strategic improvements are needed to enhance financial performance and stability.

Income Statement

Thruvision Group plc has faced significant challenges in its income statement, with declining revenues and negative profit margins. The revenue has decreased by 32.9% in the most recent year, indicating a downward trend. The net profit margin is negative, reflecting ongoing losses. Despite these challenges, the company has maintained a consistent gross profit margin over the years, which is a positive aspect.

Balance Sheet

The balance sheet shows a moderate level of stability with a low debt-to-equity ratio, indicating conservative leverage. However, the return on equity is negative, reflecting the company's inability to generate profits from its equity base. The equity ratio is relatively healthy, suggesting a solid equity base compared to total assets.

Cash Flow

Cash flow analysis reveals significant challenges, with negative operating and free cash flows. Although there was a notable improvement in free cash flow growth in the latest year, the operating cash flow to net income ratio remains negative, indicating cash flow issues. The free cash flow to net income ratio suggests that cash flow generation is not aligned with net income.

Breakdown	TTM	Mar 2025	Mar 2023	Sep 2022	Mar 2021	Mar 2020
Income Statement
Total Revenue	4.87M	4.16M	7.81M	12.42M	8.36M	6.70M
Gross Profit	791.00K	1.29M	3.52M	5.20M	3.34M	2.70M
EBITDA	-3.70M	-4.13M	-2.37M	-325.00K	-1.31M	-2.22M
Net Income	-4.42M	-4.60M	-2.85M	-805.00K	-1.66M	-2.49M
Balance Sheet
Total Assets	8.14M	8.46M	11.60M	12.45M	12.76M	14.66M
Cash, Cash Equivalents and Short-Term Investments	2.11M	374.00K	4.12M	2.81M	5.44M	7.27M
Total Debt	418.00K	544.00K	643.00K	725.00K	653.00K	325.00K
Total Liabilities	2.14M	2.90M	2.84M	3.63M	3.31M	3.35M
Stockholders Equity	6.00M	5.56M	8.76M	8.82M	9.45M	11.31M
Cash Flow
Free Cash Flow	-3.41M	-4.90M	-1.45M	-2.63M	-2.31M	-1.06M
Operating Cash Flow	-2.84M	-4.36M	-826.00K	-2.51M	-1.58M	-571.00K
Investing Cash Flow	-571.00K	-450.00K	-532.00K	-112.00K	-735.00K	-408.00K
Financing Cash Flow	3.71M	1.05M	2.65M	-50.00K	491.00K	-136.00K

Thruvision Group plc Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 0.95
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:THRU, the sentiment is Positive. The current price of 0.95 is below the 20-day moving average (MA) of 0.98, below the 50-day MA of 0.97, and below the 200-day MA of 1.18, indicating a neutral trend. The MACD of 0.02 indicates Negative momentum. The RSI at 55.17 is Neutral, neither overbought nor oversold. The STOCH value of 56.67 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:THRU.

Thruvision Group plc Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SNX	79 Outperform	£37.31M	8.68	10.49%	2.09%	21.43%	44.70%
CSSG	70 Neutral	£9.98M	15.25	5.08%	3.20%	10.26%	45.18%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
PEG	61 Neutral	£6.83M	-13.39	-8.06%	―	63.81%	71.62%
QQ	58 Neutral	£2.69B	-13.47	―	2.00%	-4.59%	-256.51%
IGE	44 Neutral	£2.26M	-7.86	-18.29%	―	-43.45%	-240.00%
THRU	42 Neutral	£4.58M	-0.49	-71.37%	―	-21.55%	10.59%

Thruvision Group plc Corporate Events

Thruvision Wins Multiple UK Custodial Contracts for Contactless Screening Tech

Thruvision Group has secured multiple new contracts worth about £0.5 million to deploy its 8108 SpotCHECK walk-through people-screening technology across UK custodial facilities by 31 March 2026. Each installation includes a five-year support and maintenance package, bolstering recurring revenue and deepening long-term relationships with public-sector customers.

The contactless systems are intended to improve contraband detection, reduce physical contact during searches and enhance safety for staff and detainees in tightly regulated custodial environments. Awards made independently by individual institutions highlight growing demand and reinforce Thruvision’s positioning as a trusted provider in justice, detention and broader public safety markets.

The most recent analyst rating on (GB:THRU) stock is a Sell with a £1.00 price target. To see the full list of analyst forecasts on Thruvision Group plc stock, see the GB:THRU Stock Forecast page.

Thruvision wins first UK sales for new security screening subscription model

Thruvision Group has secured its first UK subscription sales under its recently launched “Screening as a Service” model, which offers customers access to its walk-through security technology, support and training for a fixed monthly fee. The subscription approach is designed to remove large upfront capital costs, allowing organisations to deploy Thruvision’s screening systems more quickly and cost-effectively.

These initial UK orders mark a key milestone in rolling out the new commercial model and indicate rising demand for flexible procurement options in the security screening market. By broadening access to its technology through subscriptions, Thruvision aims to strengthen its market position and extend its reach to a wider range of organisations seeking to upgrade their security infrastructure.

The most recent analyst rating on (GB:THRU) stock is a Sell with a £1.00 price target. To see the full list of analyst forecasts on Thruvision Group plc stock, see the GB:THRU Stock Forecast page.

Thruvision Wins Repeat UK Retail Distribution Contract from Global Logistics Client

Thruvision Group plc has secured a further UK order for its WalkTHRU high-performance security cameras from an existing multinational client, a German-headquartered global logistics company operating in the retail distribution sector. The repeat contract, which follows six previous deployments across the UK, Europe and the Americas, underscores Thruvision’s strengthening foothold in the retail distribution market as its technology is used to reduce losses, improve safety and maintain staff throughput at distribution centres without operational disruption, highlighting growing customer confidence in its solutions and reinforcing its competitive position in large-scale logistics and security screening applications.

The most recent analyst rating on (GB:THRU) stock is a Sell with a £1.00 price target. To see the full list of analyst forecasts on Thruvision Group plc stock, see the GB:THRU Stock Forecast page.

Thruvision Wins £1m South-East Asian Mass Transit Security Contract

Thruvision Group plc has secured a significant South-East Asian mass transit deployment through a regional integration partner, with the contract expected to generate more than £1 million in revenue from supplying 20 high-throughput people-screening systems for a major international rail link. The systems, to be delivered this quarter with additional support service awards anticipated next financial year, mark a notable expansion of Thruvision’s presence in the Asian mass transit market and reinforce the effectiveness of its strategy of working with trusted regional partners to capture large-scale security screening opportunities.

The most recent analyst rating on (GB:THRU) stock is a Sell with a £0.97 price target. To see the full list of analyst forecasts on Thruvision Group plc stock, see the GB:THRU Stock Forecast page.

Thruvision Grants 26.6 Million Share Options to Align Staff with Long-Term Goals

Thruvision Group plc has granted 26.6 million share options under its Long Term Incentive Plan to a director and 26 other employees, in a move designed to retain and incentivise key staff as it pursues strategic and financial objectives. The bulk of the award, 10 million options, has been granted to Chief Executive Officer Victoria Balchin at an exercise price of £0.01 per share, with all options subject to three-year vesting, continued service and performance conditions, signalling management’s effort to align leadership and employee incentives with long-term company performance.

The most recent analyst rating on (GB:THRU) stock is a Hold with a £0.86 price target. To see the full list of analyst forecasts on Thruvision Group plc stock, see the GB:THRU Stock Forecast page.

Thruvision Expands US Retail Security Deployment and Confirms Seattle-Tacoma Airport Order

Thruvision Group plc has expanded its footprint in the US retail distribution sector with an additional deployment of its WalkTHRU people-screening lanes for a German-headquartered global athletic apparel and footwear brand, bringing the customer’s total US WalkTHRU lanes to four and underlining the scalability and operational value of its technology in high-volume logistics operations. The company has also confirmed a previously flagged aviation order from Seattle-Tacoma International Airport for two latest-generation 8116 cameras using its SpotCHECK solution to screen aviation workers, reinforcing its position in the airport security segment and demonstrating growing demand for its screening technology across both retail and aviation markets.

The most recent analyst rating on (GB:THRU) stock is a Hold with a £0.86 price target. To see the full list of analyst forecasts on Thruvision Group plc stock, see the GB:THRU Stock Forecast page.

Thruvision Secures New Contract for Aviation Worker Screening

Thruvision Group plc has announced a Notice of Intent to Award for its SpotCHECK people-screening solution to support aviation worker screening at a large Pacific Northwest airport in the US. This contract, expected to be finalized by December 13, highlights Thruvision’s compliance with TSA mandates and its ongoing efforts to promote its solutions at industry events, reinforcing its position in the security technology market.