Thruvision Group plc (THRU) AI Stock Analysis

• Market Cap: £4.92M
• Dividend Yield: N/A
• Average Volume (3M): 2.99M
• Price to Earnings (P/E): ―
• Beta (1Y): -0.44
• 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: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: 1.00p ▲(5.26% Upside)

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

Proprietary passive imaging technology

Thruvision's passive imaging tech is a durable competitive asset: non-contact, privacy-preserving threat detection tailored to airports and critical infrastructure. This differentiated capability supports long-term contracts, higher switching costs for customers, and barriers to entry versus commodity screening.

Conservative leverage profile

A low debt-to-equity ratio gives Thruvision financial flexibility over the medium term, reducing insolvency risk and preserving capacity to fund R&D or win long-term public-sector contracts without immediate refinancing pressure. This helps survive cyclical downturns.

Stable gross profit margin

Consistent gross margins imply resilient unit economics in Thruvision's hardware/software mix. If revenue growth resumes, stable margins provide upside through operating leverage to materially improve operating profit, making future scaling more value accretive.

Negative Factors

Material revenue decline

A steep, persistent revenue decline undermines scale economies and the ability to fund fixed R&D and service operations. Over several quarters this erodes market position, reduces bargaining power with large institutional customers, and limits reinvestment capacity.

Negative operating and free cash flow

Sustained negative operating and free cash flows indicate structural cash burn. This forces reliance on external financing for capex, service contracts, or working capital, which can dilute shareholders or constrain long-term product investment and commercial expansion.

Inability to generate shareholder returns

Negative ROE and ongoing losses signal failure to convert invested capital into profit. Over the medium term this limits organic growth funding, increases pressure for dilutive funding or cost cuts, and weakens the company's ability to sustain long-term strategic initiatives.

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	Dec 2025	Dec 2023	Dec 2022	Dec 2021	Dec 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: Negative
• 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 above the 20-day moving average (MA) of 0.94, above the 50-day MA of 0.87, and below the 200-day MA of 1.28, indicating a neutral trend. The MACD of 0.04 indicates Negative momentum. The RSI at 59.86 is Neutral, neither overbought nor oversold. The STOCH value of 52.22 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	£34.79M	8.00	10.49%	2.09%	21.43%	44.70%
CSSG	70 Neutral	£10.40M	13.20	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	£6.37M	-12.50	-8.06%	―	63.81%	71.62%
QQ	58 Neutral	£2.66B	-13.19	―	2.00%	-4.59%	-256.51%
IGE	48 Neutral	£2.81M	-9.76	-18.29%	―	-43.45%	-240.00%
THRU	42 Neutral	£4.92M	-0.49	-71.37%	―	-21.55%	10.59%

Thruvision Group plc Corporate Events

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.

Thruvision Reports Revenue Growth Amid Market Challenges

Thruvision Group plc reported a 36% increase in revenue to £2.6 million for the first half of 2026, driven by smaller orders from US Retail Distribution and a significant order from a new government customer in South-East Asia. Despite this growth, the company faces challenges in the UK Retail Distribution market, leading to a revised full-year revenue forecast of £5 million to £7 million. The company is implementing strategic initiatives, including product re-engineering and subscription-based contracts, to address pricing pressures and enhance market competitiveness.

Thruvision Group plc Successfully Passes All AGM Resolutions

Thruvision Group plc announced the successful passing of all resolutions at their recent Annual General Meeting. The resolutions included the receipt of directors and auditors’ reports, approval of the remuneration report, re-election of key directors, and re-appointment of auditors. The approval of these resolutions indicates strong shareholder support and is expected to bolster the company’s governance and operational strategies, potentially enhancing its market position and stakeholder confidence.

Thruvision Group Reports Strong Revenue Growth and Strategic Expansions

Thruvision Group plc reported a 36% increase in revenue for the first half of 2026, reaching £2.6 million, driven by significant sales in the Entrance market, including a major contract from a new government customer in Asia. Despite a slowdown in sales closures in the second quarter, the company remains optimistic due to high sales activity and potential opportunities in Customs and Aviation markets. The company has expanded its reseller network and completed testing under the UK Government’s Threat Detection Systems Test Method, with cash reserves increasing to £2.1 million by the end of September 2025.