Buy Or Sell Opportunity • Apr 28
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 52% to €0.006. The fair value is estimated to be €0.0076, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Apr 09
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 32% to €0.0065. The fair value is estimated to be €0.0086, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Mar 26
Now 34% undervalued after recent price drop Over the last 90 days, the stock has fallen 91% to €0.0015. The fair value is estimated to be €0.0023, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Mar 09
Now 28% undervalued after recent price drop Over the last 90 days, the stock has fallen 76% to €0.004. The fair value is estimated to be €0.0055, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Meanwhile, the company became loss making. 공시 • Feb 26
Image Scan Holdings plc Provides Earnings Guidance for the First Half Year of Fiscal Year 2026 Image Scan Holdings Plc provided earnings guidance for the first half year of fiscal year 2026. For the period, trading in the early part of fiscal year 26 has been significantly ahead of the same period last year, supported by several notable contract wins already announced. As a result, the Company now expects to record a small loss at the half-year, reflecting stronger demand and an increased volume of activity across multiple markets compared with H1 last year. Buy Or Sell Opportunity • Feb 18
Now 29% undervalued after recent price drop Over the last 90 days, the stock has fallen 75% to €0.005. The fair value is estimated to be €0.007, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Feb 02
Now 28% undervalued The stock has been flat over the last 90 days, currently trading at €0.006. The fair value is estimated to be €0.0083, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.0% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jan 22
Full year 2025 earnings released: UK£0.002 loss per share (vs UK£0.002 profit in FY 2024) Full year 2025 results: UK£0.002 loss per share (down from UK£0.002 profit in FY 2024). Revenue: UK£1.62m (down 44% from FY 2024). Net loss: UK£288.0k (down 239% from profit in FY 2024). 공시 • Jan 22
Image Scan Holdings Plc, Annual General Meeting, Feb 25, 2026 Image Scan Holdings Plc, Annual General Meeting, Feb 25, 2026. Location: 16 18 hayhill industrial estate, sileby road, leicestershire, le12 8ld, barrow upon soar United Kingdom New Risk • Dec 02
New major risk - Revenue and earnings growth Earnings have declined by 14% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Earnings have declined by 14% per year over the past 5 years. Market cap is less than US$10m (€2.88m market cap, or US$3.35m). Minor Risk Revenue is less than US$5m (UK£1.6m revenue, or US$2.1m). Board Change • Nov 15
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Chairman Tim Jackson was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Jan 15
Image Scan Holdings Plc, Annual General Meeting, Feb 26, 2025 Image Scan Holdings Plc, Annual General Meeting, Feb 26, 2025. Location: the registered offices, 16 18 hayhill industrial estate, sileby road, leicestershire, le12 8ld, barrow upon soar United Kingdom 공시 • Mar 12
Image Scan Holdings Plc Launches AXIS-CXi Cabinet with AI Software Image Scan Holdings Plc announced the official launch of advanced AI software integrated into AXIS-CXi cabinet X-ray system. The unveiling will take place at the prestigious 2024 Security and Policing event in Farnborough, a closed government organisation gathering, showcasing the latest advancements in security solutions. Designed to revolutionise mail screening and building entrance security, the newly integrated AI software adds an intelligent layer to the AXIS-CXi cabinet X-ray system, providing increased accuracy and efficiency in threat detection. Key Features of the AXIS-CXi Cabinet X-ray system with AI Software: Enhanced Threat Recognition: The AI software employs algorithms to identify and analyse potential threats with an enhanced level of precision and confidence. Efficient Mail Screening: The system streamlines mail screening processes, ensuring a rapid yet thorough examination of incoming mail for any suspicious items. Building Entrance Security: With real-time threat assessment, the AXIS-CXi system contributes to bolstering security at building entrances, safeguarding against unauthorised or potentially harmful items, including firearms, ammunition, sharp objects, and drones. User-Friendly Interface: The intuitive user interface ensures ease of operation, allowing security personnel to make informed decisions swiftly. 공시 • Jan 10
Image Scan Holdings Plc, Annual General Meeting, Feb 28, 2024 Image Scan Holdings Plc, Annual General Meeting, Feb 28, 2024, at 13:30 Coordinated Universal Time. Location: registered offices of 16 -18 Hayhill Industrial Estate, Sileby Road, Barrow-upon-Soar Leicestershire United Kingdom Reported Earnings • Dec 13
Full year 2023 earnings released: EPS: UK£0.001 (vs UK£0.002 loss in FY 2022) Full year 2023 results: EPS: UK£0.001 (up from UK£0.002 loss in FY 2022). Revenue: UK£2.96m (up 48% from FY 2022). Net income: UK£123.9k (up UK£395.5k from FY 2022). Profit margin: 4.2% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. New Risk • Nov 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Shares are highly illiquid. Market cap is less than US$10m (€2.90m market cap, or US$3.11m). Minor Risks Latest financial reports are more than 6 months old (reported March 2023 fiscal period end). Revenue is less than US$5m (UK£2.7m revenue, or US$3.3m). Board Change • Nov 14
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Chairman Tim Jackson was the last independent director to join the board, commencing their role in 2014. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. 공시 • Oct 10
Image Scan Holdings plc Provides Revenue Guidance for Fy23 Image Scan Holdings Plc provided revenue guidance for FY23. For the period, the company expects to report strong sales and profit growth for the year. Unaudited revenue is expected to be £3 million for FY23 (FY22: £2 million) an increase of 50%. 공시 • Jan 19
Image Scan Holdings Plc, Annual General Meeting, Feb 28, 2023 Image Scan Holdings Plc, Annual General Meeting, Feb 28, 2023, at 13:30 Coordinated Universal Time. Location: at the registered offices of 16 -18 Hayhill Industrial Estate Sileby Road, Barrow-upon-Soar Leicestershire United Kingdom 공시 • Dec 15
Image Scan Holdings plc Appoints Sunil Vadgama to the Board Image Scan Holdings Plc announces that Sunil Vadgama has been appointed to the Board with immediate effect, having been introduced by Rise Step International Development Limited who hold 22.56% of the issued share capital. Sunil Vadgama, is the founder and sole director of SK Electronic Solutions Ltd. formed in 2008. Prior to this date Sunil completed a successful 20 year career with a leading publicly quoted security x-ray company, Sunil was part of the senior engineering team responsible for developing a range of x-ray generators and associated equipment, for deployment in the defence and security market. Sunil's experience in x-ray technology, will be an asset to the Image Scan board. 공시 • Oct 06
Image Scan Holdings Plc Provides Earnings Guidance for the Year Ended 30 September 2022 Further to revised guidance issued on 22 February 2022, Image Scan Holdings Plc confirmed that revenues and profit for the year ended 30 September 2022 will be below market expectations principally due to the slippage of contracts into next year that had been expected to complete before the year end. The second half has been challenging due to government contract delays and component supply issues which have had an impact across product range and will continue to do so for the foreseeable future. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Tim Jackson was the last independent director to join the board, commencing their role in 2014. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Jan 25
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: UK£0.002 (up from UK£0.001 in FY 2020). Revenue: UK£2.87m (down 18% from FY 2020). Net income: UK£239.9k (up 74% from FY 2020). Profit margin: 8.3% (up from 4.0% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 15%, compared to a 25% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 39% per year, which means it is significantly lagging earnings growth. 공시 • Jan 12
Image Scan Holdings plc Announces the Launch of New Portable X-Ray System Image Scan Holdings Plc announced the market launch of the ThreatScan-AS1 integrated portable X-Ray system for bomb squads and security professionals worldwide. Private demonstrations have already been carried out, and the system will be shown to the wider security community for the first time at the upcoming Intersec exhibition in Dubai. The new system is the first to use an amorphous silicon detector panel, the same technology used in medical X-ray. Additionally, the system is highly integrated, with the primary display, computer, communications and power supplies fully integrated into a single, rugged case. With the addition of secondary tablet display, ThreatScan-AS1 offers high flexibility in deployment to meet a wide variety of threat scenarios. The system also incorporates a new, higher energy, version of the Company's I-Gen portable X-ray generator. The combination of technologies used in ThreatScan®-AS1offers exceptional X-ray imaging performance, advanced material discrimination, and Image Scan's sophisticated image processing software. Reported Earnings • Dec 08
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: UK£0.002 (up from UK£0.001 in FY 2020). Revenue: UK£2.87m (down 18% from FY 2020). Net income: UK£239.9k (up 74% from FY 2020). Profit margin: 8.3% (up from 4.0% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 15%, compared to a 25% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 79% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. 공시 • Sep 13
Image Scan Holdings plc Provides Sales Guidance for the Year Ending 30 September 2021 Image Scan Holdings Plc provides sales guidance for the year ending 30 September 2021. For the period, the company expects of sales of approximately £2.9 million and a trading profit performance close to breakeven. 공시 • Jan 22
Image Scan Holdings Plc Wins Contract to Supply Three Portable X-Ray Scanning Systems to the Royal Air Force Image Scan Holdings Plc announced the award of a contract to supply three portable X-ray scanning systems to the Royal Air Force. The systems to be supplied are the ThreatScan®-LSC, a combination package including a large format ThreatScan®-LS1 panel, a compact ThreatScan®-LS3 panel with back-pack, a tablet PC imaging station and the I-Gen generator. This combination system provides great deployment flexibility for different threat scenarios. 공시 • Jan 06
Image Scan Holdings plc, Annual General Meeting, Feb 23, 2021 Image Scan Holdings plc, Annual General Meeting, Feb 23, 2021, at 11:00 Coordinated Universal Time. Location: registered offices of 16 -18 Hayhill Industrial Estate Sileby Road Barrow-upon-Soar Leicestershire United Kingdom Analyst Estimate Surprise Post Earnings • Dec 05
Revenue beats expectations Revenue exceeded analyst estimates by 2.5%. 공시 • Oct 14
Image Scan Announces Launch of Innovative New Security System Image Scan announced the market launch of the AXIS-CXi, an innovative cabinet X-ray system for use in mailrooms and a wide range of other security screening environments. The AXIS-CXi uses the dual energy X-ray technology deployed in airport security and in Image Scan's own portable X-ray systems to separate different classes of material, the first time this technology has been offered in a cabinet X-ray format. In addition, the system will offer a large chamber and improved X-ray performance, making it suitable for use beyond mailrooms, the environment where most cabinet X-ray systems have traditionally been deployed. Potential additional opportunities include government and commercial buildings, prisons, and customs. AXIS-CXi will be shown to potential customers for the first time at the Total Security Summit, a security technology event to be held online on 12th October. This is an example of how the Company has successfully adapted its marketing strategy to reflect the travel restrictions imposed during the COVID-19 pandemic. 
