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Light Science Technologies CEO on 2024 revenue growth, H2 profitability and strong outlook
Light Science Technologies Holdings PLC (AIM:LST) CEO Simon Deacon takes Proactive's Stephen Gunnion through the company’s strong financial results for 2024 and its strategic plans for the future.
The company reported a 29.5% increase in revenue, reaching £12 million, up from £9.3 million the previous year. Deacon highlighted an improvement in gross margin from 23.4% to 30.3%, which has helped drive the company closer to profitability.
Light Science has also expanded through acquisitions, integrating new businesses to strengthen its Agtech and Passive Fire Protection divisions. The Agtech division saw significant growth, with revenue increasing by 250%. The company now offers a broad range of solutions, including lighting, sensors, irrigation, and control systems, with a £40 million quoted pipeline.
Deacon also discussed the company’s £50 million revenue target and its ambition for 20% of Agtech revenue to be recurring through software and live data services. He emphasised the company’s global strategy, forming partnerships like the recent Agrolux collaboration to expand internationally.
With increasing focus on food security, climate change, and sustainability, Light Science sees strong demand for its technologies in controlled environment agriculture and broader environmental monitoring.
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