Calnex Solutions plc AIM:CLX
- Incorporated
- United Kingdom
- Chief executive
- Tommy Cook
- Employees
- 169
- Reports in
- GBP
- Companies House
- SC299625
Read straight from the annual reports
54.0p at close on 5 Oct 2026 · 9 reported years, 2018–2026
| Line | FY201803/18 | FY201903/19 | FY202003/20 | FY202103/21 | FY202203/22 | FY202303/23 | FY202403/24 | FY202503/25 | FY202603/26 | FY2027unreported |
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| Adjusted operating profit | — | — | — | — | — | — | — | |||
| Exceptional items | — | — | — | — | — | — | — | |||
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| Adjusted profit before tax | — | — | — | — | — | — | — | |||
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| Adjusted minus statutory PBT | — | — | — | — | — | — | — | |||
| Basic EPS | — | — | ||||||||
| Diluted EPS | — | — | ||||||||
| Adjusted EPS | — | — | — | — | — | — | — | |||
| Dividend per share | — | — | — | — |
GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
9 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Digital infrastructure (cloud/data centres) – repeat Sentry order from a hyperscaler
A significant repeat Sentry order from a leading hyperscaler in H2 drove Network Sync growth and ROW revenue growth of 48%. One customer was 22% of FY26 revenue (FY25 17%) and 25% of orders. Digital infrastructure was 49% of FY26 orders.
page 23Government and defence, especially US federal
Government and defence rose to 21% of orders by value (FY25 15%). Growth came from NAA/SNE and Sync products, helped by FY25 targeted hires for the US federal customer base.
page 18Gross margin
Gross margin rose to 76% (FY25 75%). It is net of channel partner commissions and can fluctuate by 1-2% with the mix and timing of hardware/software bundles.
page 26Operating gearing on revenue growth
Underlying EBITDA margin rose to 8% from 6%. The chair cites the 'operational leverage inherent in the business model'.
page 26£2.9m charge: Write-off (disposal) of aged capitalised development costs, gross £2,889k, with amortisation eliminated and no net book value impact
page 93'Targeted investment in FY27 in key product launches and continued development of market and customer relationships will position the Group for further growth in FY28 as new products are commercialised.'
page 4No formal post-balance-sheet events note is included. Management states that cash rose to £11.2m at 22 May 2026 (from £9.3m at year end) as year-end receivables were collected.
page 4No formal payout policy is stated. Interim dividend 0.31p (paid 19 December 2025). Proposed final dividend 0.68p, giving 0.99p for FY26 (FY25 0.95p). The final would cost £598,343 and is payable on 8 September 2026 to holders on the register at 14 August 2026, with ex-dividend on 13 August. Dividends paid in the year totalled £818k. The directors' report says the AGM is in August 2026; the CFO statement and note 30 say September 2026.
page 28Going concern basis adopted: the Board approved forecasts to 31 March 2028 and there is no debt. RSM UK Audit LLP (Rachel Fleming, Senior Statutory Auditor; auditor since September 2020) gave an unqualified opinion dated 22 May 2026, with no material uncertainty on going concern. The sole key audit matter is valuation of intangible assets and goodwill: capitalised development costs of £13,420k and goodwill of £2,000k. Group materiality was £448k, based on 7% of EBITDA. Audit scope covered 100% of revenue and 99.8% of PBT.
page 71- Reliance on a single contract manufacturer (Kelvinside Electronics), which also procures components; an outage would affect orders (unchanged)p.30
- Customer concentration: one customer at about 22% of revenue and 25% of orders (increasing)p.30
- Distribution channel transition: Spirent agreement terminated in 2024 and new partner network and Viavi partnership still bedding in (decreasing)p.31
- Economic and capex cycle: customer spend on engineering projects can be delayed (unchanged)p.32
Read from C000240-AR-2026-ch.
8 annual reports read, FY2019 to FY2026
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (8)
FY2027Next report expected 29 May 2027