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Concurrent Technologies plc H1 2026 Results Record first half performance, underpinning confidence in exceeding full year market expectations 7 September 2026
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Concurrent Agenda and presentation team Half year results for the six months ended 30 June 2026 2 Welcome 02 Business and H1 2026 overview 03 Financial review 07 Strategic priorities 13 Outlook 19 Q&A 20 Miles Adcock, CEO Kim Garrod, CFO
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Concurrent A proven UK tech company with global reach Embedded computing that drives performance and resilience +200 employees across UK and US design and manufacturing sites 4 decades of embedded computing expertise 52% of revenue generated in the US 5 years of double-digit revenue and PBT growth What we deliver Boards: embedded boards for advanced machines Systems: complete, reliable computing units Design solutions: custom products for clients Why Concurrent Defence-led demand c.90% of revenue from defence customers. Trusted by major OEMs Designs and manufactures for some of the world’s largest OEMs. Proven specialist platform Four decades of expertise across boards, systems and design solutions. US and global reach UK and US sites, with a global network of sales partners Runway across defence, aerospace, communications and industrial markets. Half year results for the six months ended 30 June 2026 3
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Concurrent Concurrent – An agile commercial company selling into very large global defence markets 4 $552bn¹ $191bn² £145m⁴ FY25 design-win lifetime value Core Markets UNITED STATES $1.03tn¹ 2026e EUROPE (Excl. Russia and Ukraine) c.$590bn⁴ 2025 UNITED KINGDOM £81bn¹ 2026e ASIA-PACIFIC c.$630bn³ Half year results for the six months ended 30 June 2026 2026e $.1.81tn¹ NATO defence expenditure 2026 estimate • c.45% higher in real terms than 2014 Major equipment & associated R&D 2026 estimate • c.31% of NATO expenditure Global defence electronics market 2026 estimate • forecast to reach $324bn by 2035 Sources: ¹ NATO, Defence Investment of NATO Countries (2014–2026), July 2026, Tables 1, 2 and 8a, pp.5, 6 and 12; ² Global Market Insights, Defense Electronics Market Size & Share 2026–2035, May 2026; ³ IISS, Asian Defence Spending in 2026: Growth Under Fiscal Constraints, May 2026; ⁴ SIPRI, Trends in World Military Expenditure, 2025, April 2026. Notes: NATO figures are 2026 estimates at current prices; c.45% real growth uses constant 2021 prices. The c.$552bn equipment/R&D figure and c.31% share are calculated from underlying NATO data. The IISS Asia-Pacific aggregate includes Australia. Europe excluding Russia and Ukraine is calculated as $864bn less $190bn and $84.1bn, respectively. UK expenditure is included within Europe. Regional figures are not additive. The Asia- Pacific aggregate includes China.
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Concurrent Profitable growth Revenue +10% £23.2m PBT +19% £3.2m Continued investment while maintaining a strong balance sheet Demand accelerating Order intake +110% £46.9m LTV of H1 2026 design wins £129m Continued conversion of design wins into production Scaling the business Manufacturing expansion complete, doubling capacity Systems business delivered a profitable H1 Supply chain secured to support future growth Well positioned for the future Entered H2 with record backlog and strong pipeline Greater revenue visibility from growing production programmes Confident in long-term growth strategy A record H1 performance with improving visibility 5Half year results for the six months ended 30 June 2026
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Concurrent NOW Customer programme case study One journey, three stages — from first-to-market capability to a 600-system opportunity 2021 – 2025 Building capability / $10k's 2021/22 First-to-market Computer Boards... 2022 ...Which excited our APAC Distributer 2023 Acquired Phillips Aerospace for Systems capability 2024 Concurrent held a distributer event in UK to engage and educate with respect to Systems 2025 APAC distributer worked hard to help us win $3.7m+ (Design & Delivery) system order with a Tier 1 prime - Potential 100-vehicle fleet 2025 – 2026 Proving in the field / $m's Successfully designed the complex system Delivering 15 field-deployable systems for trial Refining the final production variant with the partner and Tier 1 prime Unit selling price at these low volumes is $150 - $200k This success opened door for us to work with our Distributer to pursue 3 new opportunities with 3 Tier 1 primes 2 0 2 7 O N WA R D S Scaling the future / $10m's A total of four in country Tier 1 customers with a variety of applications both airborne and ground based 2028 – 29 Production orders expected - grown to potential 300 vehicles 10 yrs estimated unit volumes of 600 systems 6Half year results for the six months ended 30 June 2026
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Concurrent H1 2026 performance summary 8 £11.8m £23.2m Revenue +10% 2026 2025 2024 £23.2m £21.1m £16.8m £4.8m EBITDA +20% £4.8m £4.0m 2026 2025 2024 £3.3m £9.7m Closing cash +24% 2026 2025 2024 £9.7m £7.8m £8.9m £3.2m Profit Before Tax +19% 2026 2025 2024 £3.2m £2.7m £2.3m Gross profit +10% 2026 2025 2024 £11.8m £10.7m £8.5m 2.93p EPS +5% 2026 2025 2024 2.93p 2.78p 2.68p 20% EBITDA margin % +11% 2026 2025 2024 21% 19% 20% £46.9m Order intake +110% 2026 2025 2024 £46.9m £22.3m £17.8m Half year results for the six months ended 30 June 2026
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Concurrent 9 Revenue split £11.7m US 51% (FY25 H1: £11.9m / 57%) £1.5m UK 6% (FY25 H1: £1.5m / 7%) £6.1m Europe 26% (FY25 H1: £5.9m / 28%) £3.8m (FY25 H1: £1.7m / 8%) Asia & ROW 17% Defence and aerospace 93.1% Industrial and scientific 4.3% Comms and other 2.6% Market segments Largest customer 10% Rest of top 10 45% Other customers 45% Customer concentration Top 10 customers Half year results for the six months ended 30 June 2026
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Concurrent Business units 10 Systems Products $4.6m Revenue +9% $0.5m Op Profit +100% *Systems revenue of $4.6 million is equivalent to approximately £3.4 million and profit of $0.5m equivalent to £0.4m at the reporting exchange rate. • Mix of revenue key to performance (Design v Production) • Gross margin increased from 13.3% to 26.3% • Headcount now at c25 (investment growth slowed) • Revenue slower in H1 due to late order conversion • Orders of c$8M H1 FY26; set up strong for H2 • Pipeline opportunity continues to strengthen as we delight customers Revenue +11% £2.9m Op Profit –9% £19.8m • Continued strong output from factory • Order conversion later in H1; supporting H2 • Colchester expansion nearly complete • Costs & level of revenue driving small profit reduction in H1 • Gross margin remains strong at 55% • Strong backlog, including FY27 and beyond Strong and growing pipeline with projects dependent on timing for both business units FY25 H1: $4.2m FY25 H1: £17.9m FY25 H1: £3.2mFY25 H1: -$0.6m Half year results for the six months ended 30 June 2026
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Concurrent Template 2026 11 £5.6m £8.8m £0.0m £0.1m £0.0m (£0.9m) (£11.7m) (£3.0m) (£3.3m) (£0.3m) £1.8m (£6.2m) £14.4m £9.7m Opening cash (1 January 2026) Profit (adjusted for non-cash items) Increase in trade payables Increase in inventories Increase in receivables Tax paid Net cash from operating activities Capitalised R&D Purchase of PPE Other Net cash used in investing activities Net cash used in financing activities FX impact Closing cash (30 June 2026) Cash 11 • Net cash from operating activities includes increase in inventory levels (£0.9m) to be utilised in second half of year • Net cash used in investing activities includes product development (c£3.0m) & costs associated with new SMT line and office move (£2.9m) • Strong closing position at £9.7m; No debt, with Debt facility (RCF) remaining undrawn Concurrent Half year results for the six months ended 30 June 2026 Increase Decrease Subtotal Total
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Concurrent Consistent financial delivery 2022 H1 2023 H1 2024 H1 2025 H1 2026 H1 Revenue £7.4m £12.1m £16.8m £21.1m £23.2m Order intake £14.2m £14.5m £17.8m £22.3m £46.9m EBITDA £0.8m £2.1m £3.3m £4.0m £4.8m EBITDA % 11% 17% 19% 19% 21% Profit before tax £0.03m £1.0m £2.3m £2.7m £3.2m Profit margin 0.4% 8.3% 13.7% 12.8% 13.8% Delivering Growth In September 2021 we committed to: ✓ Invest in product development, launch more products earlier to market ✓ On board more and larger customers to minimise dependency on any one customer ✓ Move up the value chain by selling complete systems alongside PICs business ✓ Develop real partnerships for differentiated content within Systems Robust financial discipline and market adaptability across cycles Delivering both top and bottom-line growth Operational improvements translating into profit growth 1212Half year results for the six months ended 30 June 2026
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Concurrent Managing Enterprise Risk Supply chain Data Centres + conflict = impacted supply • Delays • Availability • Allocation • Especially RAM Cybersecurity A data breach or denied access resulting in reputation, operational, and financial impacts. Focus = Protection. Detection. Response. Physical security Higher profile = risk to facilities & people Customer requirements ✓ 2026 & 2027 RAM secured ✓ Advanced procurement ✓ Regular CNC pricing reviews ✓ Recruiting into Supply Chain team. ✓ Assess + prioritise risk ✓ Implement tools and audit against standards ✓ Response plans in place for 19 scenarios ✓ Ex-Co "grab packs" for control and comms ✓ Factory: new doors, windows, bars, and bollards ✓ Security designed in e.g. "anti drone" HVAC, room access controls, sound proofing ✓ Employee screening and CRB checks Supply Chain Concurrent Half year results for the six months ended 30 June 2026 14
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Concurrent Our Solutions Embedded computing delivered to some of the world's largest companies for some of the most critical products and deployments Systems Boards TR MDxPR A11 TR MS8 Magni II Hermes II Bragi Iris Helios Vulcan Hermod II ApolloKratos Hornet Rhea Fulla Eir Huey Caelus 15Half year results for the six months ended 30 June 2026
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Concurrent 16Half year results for the six months ended 30 June 2026 Expanded Colchester factory – a £5.4m investment The “Gilbard Court” site is now 19,000 sq ft of space dedicated to production New rooms New machines Oven Room Test Room Pick and Place Soldering Visual inspection Oven room and test room, replacing former office space Pick and place, soldering and visual inspection – increasing capacity
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Concurrent New office – The Crescent Half year results for the six months ended 30 June 2026 17 North Wing - It is “HQ” for Group functions. West Wing – in progress Located next door The Crescent is a total of 14000 sq ft across 2 wings. Week 6 of 12-week programme 40 Desks 4 Meeting Rooms 1 Boardrooms 1 Media Room The North Wing of The Crescent provides a World Class office Space that provides accommodation for: The West Wing of The Crescent will provide a clean, bespoke lab space for our engineers to provide a next level service for our customers with: 70 Desks 1 1 Demo Room 1 Innovation Room Noise Proof Room
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Concurrent Our strategic priorities Half year results for the six months ended 30 June 2026 18 To deliver technology at pace: Achieving £100m per annum revenue will be a meaningful waypoint for Concurrent – CEO, 2021 Organically introduce new capability e.g. security features Through excellence in culture and operationswe strive to be first to market with latest technology Acquire businessesto add building blocks of capability and IP 2022 Product-led specialist embedded computing boards 2023 Phillips Aerospace 2024–25 Capability scaled systems development and technology roadmap 2026 Production expansion Future Integrated solutions mission-critical computing platform Building a larger, more resilient embedded computing business - The strategy has broadened Concurrent from a product-led board specialist into a higher-scale, mission-critical computing platform.
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Concurrent Outlook 19Half year results for the six months ended 30 June 2026 ✓ Multi-year contractsprovide increased visibility of future revenues ✓ Strong order book and growing backlog underpin continued momentum into H2. YTD Orders >£68m (as at 31st August 2026) ✓ Design wins converting into production programmes ✓ Proactive supply-chain management securing critical components and supporting customer demand ✓ Expanded manufacturing capacitywill be utilised in H2 and supports on-going growth ✓ A very large multiyear order is delivering additional in year revenue with profit phased to deliver in later years. The Board is confident that revenue and profit will exceed market expectations for FY26, with revenue materially ahead. *In so far as the Board is aware, as at [6] September 2026, consensus market expectations for FY26 are revenues of £52m and profit before tax of £8m.
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Concurrent Miles Adcock Chief Executive Officer Miles joined Concurrent as CEO in June 2021 and brings a wealth of technical and senior business management experience to the Board. Before this, he served as President of Space Imaging at Teledyne Technologies, Inc. His earlier career includes leadership roles at QinetiQ, where he was Managing Director and a member of the Group Executive Committee after serving as Group Engineering Director. He also held senior positions at BAE Systems and GECMarconi. Board of Directors 21 Kim Garrod Chief Financial Officer Kim was appointed as a Director and CFO of Concurrent in May 2022. Kim brings extensive strategic planning and financial management and oversight experience from various senior financial roles at QinetiQ Group plc and its predecessor organisations, including five years as Finance Director for the international business. Kim brings strong commercial insight and a proven track record in driving financial performance. Brent Salgat Chief Revenue Officer Brent joined the Company as President of Concurrent Technologies Inc. in 2008 and was appointed Director of the Company in May 2020, before being promoted to Chief Revenue Officer in 2024. He previously held sales management roles at SBS Technologies and GE Intelligent Platforms, giving him extensive insight into the markets in which Concurrent sells its products. Mark Cubitt Chairman Mark has been the Chairman of Concurrent since March 2020. He has experience leading AIM-listed companies, serving as Chairman of IQE plc from November 2024 and as a Non-Executive Director of Beeks Financial Group, where he was Chairman from 2016 to 2024. A chartered accountant until 2023, he held senior roles including CFO of Wolfson Microelectronics, Non-Executive Chairman of Superglass Holdings, VP of Finance at Jacobs Engineering, and Finance Director of Babtie Group. Nat Edington Non-Executive Director Nat joined Concurrent in September 2021 and provides the Board with a strong technical and business transformation skillset. Nat is the CEO of Filtronic plc, and the former CEO of Dukosi, where he led the company’s transformation into a technology leader in battery systems. Before Dukosi, he was CEO at Cambridge CMOS Sensors, playing a key role in the company’s sale to AMS AG and held senior positions at Wolfson Microelectronics plc Issy Urquhart Non-Executive Director Issy joined Concurrent in February 2024. She is a seasoned international business leader, including of AIM-listed companies, with over 30 years of strategic and operational global HR experience. Issy is the Chief People Officer and a Director at Craneware plc, a global AIM-listed SaaS company. Issy has held senior roles at CommScope, Wolfson Microelectronics plc, and Convergys. Her expertise spans a wide range of sectors, including technology, business process outsourcing, financial services, and fastmoving consumer goods. Half year results for the six months ended 30 June 2026
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Concurrent A proven UK tech company with global reach Dedicated to making end-users’ lives safer, easier, and more productive ✓ 183 employees across UK and US design and manufacturing sites ✓ Global network of sales partners ✓ c.90% of revenue from defence customers ✓ 52% of revenue generated in the US ✓ Four decades of embedded computing expertise Where you’ll find us A Support Centre - Woburn, Massachusetts, USA Systems Operational Centre - Los Angeles, California, USA Computer Board Centre - Colchester, Essex, Uk A Design Centre - Theale, Berkshire, UK 22Half year results for the six months ended 30 June 2026
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Concurrent 23 Embedded computing that drives performance and resilience For some of t he world's largest OEM's, we design and manufacture: Systems: complete computing units designed for high- performance, reliability, and long lifecycle operation Embedded processing boards: powerful circuit boards that serve as the brains inside advanced machines and equipment Design solutions: end-to-end design services - we design custom products for clients to manufacture based on Concurrent’s design For our end markets Defence: Our products enable military operations to run smoothly and ensure teams stay connected and mission- ready, including: • Mid-life upgrades: Modernising existing equipment with backwards compatibility to boost performance and extend service life • New platforms: From early development to production • Applications across domains: Deployed across a variety of platforms, including command, control, cyber defence, intelligence, surveillance and reconnaissance, radar and signals. Applications include: 5G base station equipment, satellite communications, control and storage devices AerospaceCommunication IndustrialScientific Transport Half year results for the six months ended 30 June 2026
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Concurrent Cashflow 24Half year results for the six months ended 30 June 2026
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Concurrent P&L 25Half year results for the six months ended 30 June 2026
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Concurrent Balance Sheet 26 Intangibles o £16.1m Products o £2.5m related to acquisition of Phillips o £0.5m ERP Inventories o Increasing from year end for growth o End of life c.£2m o Provision for slow moving c.£1m Trade Receivables & Payables o Phasing of revenue & invoicing o Receivables include £6.7m of deferred income Cash o Remains strong, providing flexibility for growth initiatives and intra-year working capital fluctuations Tax o c.£0.7m deferred income from new merged RDEC scheme to offset future amortisation Half year results for the six months ended 30 June 2026