Transense Technologies (LON: TRT) has moved into profit in the six months to December 2021 thanks to growing royalty income from iTrack tyre pressure monitoring system sales. This means that there is no longer cash flowing out of the business.
Interim revenues improved from £895,000 to £1.2m with a loss of £53,000 turned into a pre-tax profit of £82,000. That is before any tax credits.
The iTrack royalties increased from £374,000 to £660,000 and annualised recurring revenues are running at more than £1.5m, which is what broker Allenby expected to be the run-rate in June.
There was al...
