UK's Windar Photonics H1 revenue drops 85% on contract delays

Overview

• UK LiDAR wind tech firm's H1 2026 revenue fell sharply due to delayed contracts

• Company posted significantly wider EBITDA loss and basic loss per share

• Windar raised £5.1 mln post-period to strengthen balance sheet and fund recovery plan

Outlook

• Company says trading in H2 2026 remains in line with management expectations for the full year

• Windar sees potential demand expanding with additional enquiries from leading IPPs

• Company says wind energy market is benefiting from increased government focus on energy security

Result Drivers

• CONTRACT DELAYS - Revenue fell due to longer lead times to convert pipeline opportunities and two major contracts not progressing as expected

• ACCOUNTING IRREGULARITIES - Discovery of accounting issues relating to revenue recognition with Chinese distributors disrupted operations and delayed accounts

• QUALITY CONTROL ISSUE - Company identified a quality control issue affecting some units in the field, requiring remediation and additional costs

Company press release:

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)