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Tantalus Systems has released its third annual Utility of the Future Survey, revealing key insights from 103 North American utilities. The survey, conducted between January and April 2025, shows that 74% of utilities prioritize grid modernization, yet only 1 in 11 feel prepared for future challenges.
Key findings highlight that grid data management and cybersecurity remain top challenges, with only 3% of utilities feeling completely prepared for data management and 5% for cybersecurity. The survey also identifies extreme weather events, staffing challenges, and grid reliability as major concerns.
Economic volatility emerged as a significant issue, with 37% of utilities citing it as a top or extreme concern, though only 3% feel fully prepared to address it. The survey noted decreased urgency in innovation needs and regulatory pressures compared to 2024. Tantalus aims to support utilities in bridging the grid modernization readiness gap through data-driven solutions.
Tantalus Systems (TSX: GRID) (OTCQX: TGMPF), a technology company focused on utility grid modernization through data solutions, has announced it will release its Q1 2025 financial results on May 7, 2025, after market close.
The company will host a conference call and webcast to discuss the results on May 8, 2025, at 12:00 pm Eastern Time. A replay of the conference call will be available until May 15, 2025.
Tantalus provides utilities with a grid modernization platform that includes intelligent connected devices, communications networks, data management, enterprise applications, and analytics solutions, enabling utilities to optimize their existing infrastructure investments while planning for future requirements.
Tantalus Systems (TSX: GRID) (OTCQX: TGMPF) has announced a strategic partnership with Reading Municipal Light Department (RMLD), a Massachusetts municipal electric utility, to modernize their distribution grid. The implementation centers on the Tantalus Grid Modernization Platform (TGMP), which will transform RMLD's infrastructure into a multi-directional grid.
The partnership will integrate connected devices, communications networks, grid data management, applications, and analytics. Key components include the TRUSync Grid Data Management System for automated data integration and the TRUSense Cellular Gateway for supporting distributed energy resources (DERs) and electric vehicles.
This modernization initiative aims to enhance reliability, lower costs, and increase non-carbon energy usage. The system will provide improved visibility, command, and control across the grid while ensuring seamless integration of Information Technology (IT) and Operational Technology (OT) systems.
Tantalus Systems (TGMPF) reported strong Q4 2024 and full-year financial results, achieving record revenue and positive Adjusted EBITDA. Q4 revenue increased 21% year-over-year to $12.6 million, with Software revenue up 36% and Connected Devices revenue up 14%. The company maintained a 24% recurring revenue ratio and improved gross profit margin to 52.4%.
For full-year 2024, Tantalus delivered $44.3 million in revenue, representing 5.1% growth. Annual Recurring Revenue grew over 10% to $12.7 million, while gross profit margin increased 200 basis points to 54%. The company added a record 31 new utility customers and converted $51.2 million in sales orders, up 46% year-over-year.
Notable developments include completing a $7.3 million bought deal financing, certifying three TRUSense Gateway variants, and expanding available liquidity to $18.0 million by year-end 2024, compared to $5.2 million in 2023.
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