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M transense technologies plc Year End Trading Update Released : 05 Jul 2021 07:00 RNS Number : 0633E Transense Technologies PLC 05 July 2021 Transense Technologies plc ( " Transense " , or " the Company " ) Year End Trading Update Transense Technologies plc , the provider of specialist sensor systems , is pleased to provide a trading update for the financial year ended 30 June 2021 . iTrack Royalties Trading for the full year has closed in line with market expectations ( as upgraded in February 2021 ) based on the unaudited accounts , with revenues of approximately £ 1.8m and a profit at both EBITDA * and profit after tax levels . Net cash balances at 30 June 2021 were £ 1.04m ( FY20 : £ 1.19m ) . The operating cash flow for the full financial year is expected to be positive before movements in working capital . Royalties for the final quarter of the financial year are not reflected in the year end cash balance as they are not payable until July 2021 , thereby further demonstrating the Company's increasingly strong financial position . The rate of increase in the installed base of iTrack gathered significant additional momentum in the second half of the financial year , and especially in North America during the final quarter . As a consequence , the royalty run rate has increased by around 80 % since the licence was granted . iTrack system capabilities continue to be enhanced under Bridgestone ownership as it becomes further embedded into their mining solutions business and , as referenced in their mid - term update in May 2021 ** , a number of global long term contracts have been committed and are in the roll out stage . This process is expected to accelerate following completion of Bridgestone's proposed acquisition of Otraco International PTY Limited , a leader in tyre management solutions with an extensive service network in key markets such as Australia , Chile and South Africa .