LIGHT SCIENCE TECHNOLOGIES HOLDINGS PLC - Results and Company Update

Light Science Technologies Holdings PLC (LST) reported H1 2026 revenue of £3.7 million, compared with £5.1 million in H1 2025, reflecting Building Safety Regulator delays within Passive Fire Protection (PFP) and reduced demand from a major Contract Electronics Manufacturing (CEM) customer. Group gross margin was 30.5%, while adjusted loss before tax was £0.8 million. Management highlighted a significant improvement in H2 trading momentum, with more than £2.1 million of revenue generated in June and July, a committed forward order book exceeding £3 million and a quoted sales pipeline of approximately £50 million. The £6.6 million fundraising and three strategic acquisitions have strengthened the balance sheet and expanded the Group’s growth platform, particularly through Injectaclad and the PFP division. Cash and undrawn working capital facilities increased to £2.9 million by the end of July, supporting expectations for stronger cash generation. CEM is targeting higher-margin defence, medical and healthcare markets, with four new clients expected to contribute up to £1 million in annual revenue, while AgTech delivered 54% year-on-year revenue growth and secured new university and commercial projects. With improving margins, tighter cost control, growing PFP activity and increased revenue visibility, management expects a more profitable and cash-generative second half, supporting its longer-term growth strategy and ambition to scale Group revenue towards £50 million.