Turnium loses $11.28-million in fiscal 2025

Executive Summary

• Turnium Technology Group Inc. reported audited financial results for the fiscal year ended September 30, 2025, showing significant revenue growth driven by the inclusion of Claratti and modest growth in TNSI.
• The company announced an extension of the exclusivity period for its proposed acquisition of Insentra Holdings assets through January 31, 2026, while continuing its strategic transformation toward a solutions-driven business model.
• Key operational highlights include the deployment of the Version 7.x RAC1 platform to 75% of its partner ecosystem, new strategic partnerships, and the classification of Tenacious Networks (TNET) assets as held for sale/discontinued operations.

Key Details

• FY2025 Financial Performance:
  • Total Revenue: $8.79 million (up 58.2% year-over-year).
  • Revenue from Continuing Operations: $6.72 million (up 90.1% year-over-year).
  • Growth Drivers: Modest growth in TNSI and a full year of results from Claratti.
• Q4 2025 Financial Performance (including discontinued operations):
  • Revenue: $2.29 million (up 47.7% from Q4 2024).
  • Gross Margin: $687,000 (down 25.8% from Q4 2024).
  • Total Expenses: $1.68 million (down 16% from Q4 2024).
• Share Count:
  • Weighted average common shares outstanding (basic) at year-end: 170,187,417 (down from 184,757,145).
• M&A / Strategic Transactions:
  • Insentra Acquisition: Parties signed an amendment to the non-binding LOI (dated Nov 9, 2025) to extend the term for entering into a definitive asset purchase agreement through January 31, 2026. The transaction involves acquiring substantially all assets of Insentra Holdings and affiliated entities in the US and UK.
  • Tenacious Networks (TNET): Assets classified as held for sale and discontinued operations as of year-end due to an active plan to sell.
• Operational & Partnership Updates:
  • Platform Deployment: Successful deployment of Version 7.x RAC1 platform to 46 OEM partner environments (75% of partner ecosystem).
  • Product Launch: Official launch of "Turnium Insight" on Sept 10, 2025; 750+ instances deployed worldwide by Aug 14, 2025.
  • New Partnerships:
    • Global commercialization partnership with Syntheia Corp (SYAI) for conversational AI solutions (Dec 18, 2025).
    • Marketing agreement with Winning Media LLC (Nov 11, 2025).
    • Global strategic partnership with Styx Intelligence for digital risk protection (Sept 4, 2025).
    • Global strategic alliance with 01 Quantum for quantum-safe email encryption (Sept 2, 2025).
  • Contract Wins:
    • Claratti secured a fourth order from Seafarer Connect valued at $185,487 TCV over 24 months (July 21, 2025).
    • Comms365 renewed a $1.16 million three-year partnership for SD-WAN solutions and launched Turnium Insight in the UK (July 2, 2025).
• Subsequent Events:
  • Jan 5, 2026: Appointment of Aldo G. Gallone as Vice-President of Global Strategy and Partnerships.
  • Dec 29, 2025: Extension of Insentra LOI exclusivity.
  • Dec 22, 2025: Offering of secured debentures and warrants.
  • Dec 9, 2025: Extension of promissory notes totaling $1,073,000 and TSX Venture conditional approval.

Notable Quotes

• Doug Childress, CEO: "For the year ended Sept. 30, 2025, the company generated total revenue of $8.79-million, representing an increase of 58.2-per-cent year-over-year... We continue to move forward in transforming Turnium from a product-based business to a solutions-driven company. Our mission of driving sales, expanding our global network and actively pursuing accretive M&A opportunities are helping us reach our stated goal of achieving $100-million in revenue and $20-million in EBITDA by 2027."