T42 IoT Solutions Achieves 18% Revenue Growth in H1 2024: Advancing Global Supply Chain Security

The global IoT in logistics market is projected to grow rapidly from $53 billion in 2024 to $120 billion by 2030, with a CAGR of 14.4%. This rapid expansion reflects the increasing demand for innovative solutions that enhance transparency, security, and efficiency in supply chain management. As global supply chains face unprecedented challenges—ranging from operational delays to security breaches—companies offering real-time tracking and monitoring solutions are becoming indispensable.

T42 IoT Tracking Solutions plc TRAC, a leader in real-time tracking and security solutions for the global supply chain, reported interim solid results for the six months ending June 30, 2024. The Company achieved an 18% increase in revenue to $2.0 million, alongside a marked improvement in Adjusted EBITDA, with losses narrowing to $25,000 from $248,000 in H1 2023. The growth was driven by the increasing success of T42's flagship product, the Lokies smart lock, which is on track to achieve 100% year-over-year revenue growth.

A Game-Changer in Supply Chain Security

The Lokies smart lock is more than just a security device; it is an advanced solution designed to provide full transparency and control over assets in transit. Unlike traditional locks, Lokies integrates real-time GPS tracking, tamper detection, and environmental monitoring, allowing supply chain managers to track shipments in real time from anywhere in the world. This makes it an ideal solution for high-value cargo, sensitive goods, and industries where security and traceability are critical.

Lokies is equipped with features like:

• Real-time GPS Tracking: Provides accurate location updates throughout the cargo journey.
• Tamper Alerts: Detects unauthorized attempts to access the cargo, sending instant alerts to fleet managers.
• Environmental Monitoring: Tracks temperature, humidity, and other factors that can impact the condition of goods, ensuring the integrity of sensitive shipments like pharmaceuticals or food.
• Remote Lock/Unlock Functionality: This feature offers supply chain managers control over locking and unlocking the device remotely, adding another layer of security and operational flexibility.

With its integrated approach to physical security and real-time data, Lokies addresses the global supply chain's increasing need for both visibility and safety. This product is particularly timely, given that 75% of supply chain managers (DHL report) identify lack of visibility as a major cause of delays and disruptions.

Avi Hartmann, CEO of T42, remarked: "Our H1 2024 results demonstrate the rising demand for our cutting-edge solutions. As we expand our product portfolio and improve energy efficiency, T42 is strategically positioned to address the critical challenges reshaping global supply chains. The market's rapid growth aligns perfectly with our strategic vision."

Key partnerships, including a recent contract with a North American asset tracking provider, have further supported T42's market expansion. This move strengthens T42's presence in a region projected to dominate the IoT logistics market, driven by the increasing adoption of advanced technologies in supply chain management.

With a solid financial foundation, innovative products like Lokies, and strategic partnerships, T42 is well-positioned to capture the opportunities presented by the fast-growing IoT logistics market, making it an attractive investment opportunity for those looking to participate in the future of global supply chain security.